US Businesswear Market: Working from Home Accelerates Casualization, Hitting the Formal Clothing Market

What's Inside

The rapid shift toward working from home in the wake of the coronavirus pandemic has accelerated the longstanding casualization trend in US workplace dress codes, with significant impacts for the formal businesswear market. We discuss the following key topics:

• The current US businesswear market—including the scope of different formal apparel categories and the impact of coronavirus-related shifts to working from home on brands and retailers including Ann Taylor, Brooks Brothers and Tailored Brands.
• The future of the businesswear market, including the increased popularity of work-leisure clothing and technology innovations in businesswear.
• Opportunities for growth in the declining market—such as DTC and online sales and subscription/rental business models, with examples from brands including Indochina and Rent the Runway.

For more insight into the US retail industry, read our previous deep dive report on US Home-Improvement E-Commerce here.