US import trends: Large garment prices dip, small garments surge

The average import price of large and expensive garments was $49.30 per unit in January-November 2023. This was lower than the average price of $52.03 per unit in 2019 before the pandemic. The unit price of imports by the US slipped to $49.85 in 2020 and further crashed to $45.53 in 2021. The pandemic not only weakened the purchasing power of the average American consumer but also diminished the need due to lockdowns and confinement. However, it jumped to $50.41 per unit in 2022. Last year’s slow demand and weak purchasing power again dented the average price, bringing it down to $49.30 per unit, according to Fibre2Fashion's market insight tool TexPro.

But the average prices of smaller and cheaper garments increased to $50.98 per dozen in January-November 2023. It was noted at $45.17 per dozen in 2019. It decreased to $38.04 per dozen in 2020. However, it recovered to $41.65 per dozen in 2021. The average prices jumped to $50.72 per dozen in 2022 and further gained to $50.98 per dozen in 2023 until November. It is interesting to note no effect on small and cheap garments in the last year.

The average import price of smaller and cheaper garments, which are sold in pairs, was $8.21 per dozen pairs in January-November 2023. It was higher than the average import price of $7.64 per dozen in 2019. The average price slipped to $7.04 per dozen pairs in 2020. But it recovered to $7.27 in 2021 and further increased to $8.73 per dozen pairs in 2022. However, the average price slipped to $8.21 per dozen pairs in 2023 until November, as per TexPro.

It is considered that the demand for large and expensive garments, mostly falling in the discretionary segment, noticed weakness. But essential smaller and cheaper garments did not see similar headwinds.

ALCHEMPro News Desk (KUL)