14% of Canadian apparel market is men suits and dress shirts
Career-focused men in Canada are dressing fashionably as a way to stand out in an ocean of business casual dress wear. According to The NPD Group, this trend has increased the combined sales of suits and dress shirts by 17% or $118 mln from May 2004 to May 2005. With men’s suits and dress shirts now accounting for 14% of total dollar sales, it has reached an 11-year high as a proportion of the overall men’s apparel market. This growth can be largely attributed to Canadian age demographics, particularly men age 45 and older. From May 2004 to May 2005, suits and dress shirts purchased by this age group has accounted for a 27% increase (57% to 62%) in the overall $831 mln men’s suit and dress shirt market.