Men are officially outspending women when it comes to clothing, according to a new study. Previous research has found that men spend a lot less than you'd expect on apparel and shoes, but it's actually $10 dollars more per month than their female counterparts.
The Boutique @ Ogilvy recently determined that men spend $85 on apparel and accessories to women's $75. Thanks to their willingness to spend the extra cash and the fact that men have limited options when it comes to clothing, the report states that the market for menswear will grow by 8.3 percent to $110.3 billion in the next year, compared to 4.2 percent for womenswear. The fact that men have recently been taken a greater interest in their personal appearance and also have a larger expandable income than the ladies doesn't hurt either.
According to WWD, the study surveyed 1,232 American men, age 18 and older to determine their shopping habits. 94 percent of the men said they have a “defined” look, with most of them (53 percent) describing their style as casual or relaxed. Unsurprisingly, millennials were the most likely to associate with the growing athleisure trend.
The study also researched how men were getting their style inspiration. Forty percent of men reported that they rely on sartorial inspiration, while 27 percent said they are “dressed” by their spouse or significant other. For the millennial group, 35 percent ask their friends for advice and only 18 percent turn to Instagram.
Related: The Best Men's Style Brands of 2016