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Consumers are shopping differently now. About 60 per cent of the survey respondents in the US are buying less of the things they want; 52 per cent are taking better advantage of sales, discounts and promotions; 42 per cent are buying generic or store brands; and 40 per cent are shopping from lower prices retailers. About 56 per cent have said that they expect to buy clothes before the end of the year, according to the Cotton Incorporated survey.
As inflation and supply chain challenges continue to impact global markets, consumers in the US and Mexico are concerned about the economy, according to the Inflation & Supply Chain Survey – Wave 2 by Cotton Incorporated. As a result, about 63 per cent (US) and 53 per cent (Mexico) of consumers have decreased or put off clothing purchases.
As for the consumers in Mexico, close to 77 per cent of the survey respondents expect to buy clothes before the end of the year. Additionally, in Mexico, 52 per cent of consumers are taking better advantage of sales and discounts, 40 per cent are buying less of things they want and 37 per cent are spending more time researching what they plan to buy.
The top concerns for the consumers in the US are prices of everyday goods (62 per cent), cost of gas (51 per cent), wages and salary keeping up with the cost of living (46 per cent), and availability of items (33 per cent).
About 84 per cent of the respondents in the US said they have been impacted by shortages in the supply chain, and the number stands at 64 per cent in Mexico.
Fibre2Fashion News Desk (KD)
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