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Expenditures of U.S. residents for the purchase of clothing and footwear declined over the past 40 years by half, according to Bloomberg.
If in 1977 the average American household spent for these purposes 6.2 percent of the annual budget, currently the share is only 3.1 percent. Analysts connect it with the changing rules of office etiquette. If in the past most workers had to have at least two sets of clothing — formal suit to work in the office and clothes for free time, today more and more employers allow you to come to work in jeans, sweaters and other such things. According to the Society for human resources management, the world’s largest Association of specialists in HR, in 2017, nearly half of U.S. employers allow employees to wear office clothes-casual.
As pointed out by analysts, lower interest of Americans to buy clothes leads to a decrease in sales as from small and large retailers, and as a result, to the closure of shops. Another consequence of the decline in demand for business clothes is the closure of dry cleaners: by 2022, analysts predict a decrease in precipitation by 20 percent.
At the same time, experts note the increasing demand for high-tech products. Starting in 2010, U.S. residents spend on gadgets more than clothes and shoes.
Video, photo All from Russia.