In recent years, the average unit price of suits has been rising. The main factors behind this are higher raw material costs, the impact of the weaker yen, and increased production costs. However, at the same time, the overall suit market is shrinking, prompting companies to devise strategies to survive in this competitive landscape.
A critical keyword here is “polarization.” The market is dividing into two segments: high-priced suits featuring premium quality and custom tailoring, and low-priced suits emphasizing functionality, such as stretch fabrics and machine washability. This trend is also evident across the broader apparel industry.
In this lesson, we will delve into why the suit market is becoming polarized and how the apparel industry can apply these insights.