2026年美国时尚消费展望报告

Executive summary This report provides a practical playbook for fashion companies lookingto serve the US consumer in 2026 and beyond. Data and interviews comefrom BoF Insights, the advisory arm ofThe Business of Fashion. 26% plan to spend on fashion as a top discretionary category in 2026,ranking it fourth behind experiential categories such as dining out,travel, and fitness. 66% of consumers say value for money is their number one prioritywhen shopping for fashion, significantly higher than trendiness at 10%. 92% plan to change their shopping behavior if fashion prices rise due to tariffs,including delaying purchases, spending less, or trading down to off-price retailers. 64% cite size and fit as their top concern when buying fashion,presenting a barrier to online and in-store conversion, but also anopportunity for brands and retailers who can improve the experience. 43% shop for fashion to meet functional needs, the leading reason for purchase.Occasion-led purchases rank second, while sales and discounts play alesser role in decisions. Key takeaways Delivering value for money does not mean discountingOur survey of 1,032 US consumers reveals that ‘value’ means multiple things toshoppers today, including product durability, quality, and brand desirability. Discountsplay a lesser role than they once did in motivating purchases and can even undermineperceptions of value. For fashion brands and retailers, this means limiting blanketpromotions and shifting towards more loyalty-driven incentives to drive repeat sales.1. Fashion brands face increased competition from otherdiscretionary categories2. Experiences continue to grow in importance as signifiers of identity and worth,intensifying competition for share of wallet with discretionary categories like fashion.Fashion players should examine how they can integrate growing market adjacencieslike wellness into their product offering and brand experience, as well as build strongeremotional bonds with customers to generate greater loyalty and lifetime value. Demand is fragile and sensitive to tariff-induced price increasesFashion prices are expected to rise further in 2026 as brands and retailers pass ontariffs to consumers. However, many mass-market consumers have limited ability toabsorb further increases. US consumers’ views of their personal finances hit a near-all-time low in November 2025, according to The University of Michigan’s ConsumerSentiment Index. High income shoppers continue to spend, but even they desiregreater value. Fashion companies must balance protecting margins with protectingvolume, selectively increasing prices and communicating openly about impacts.3. Finding the right size and fit remains a challenge for fashioncustomers, especially those shopping online4. Finding the right size and fit is the number one purchase barrier for fashion,especially online, which can drag down sales and brand perception as poorly fittingitems increase returns and customer dissatisfaction. Fashion players can investin fit technology, expand their size ranges, and optimize inventory with a betterunderstanding of their customers to improve first-time fit accuracy. The era of intentional fashion shopping is here5. Consumers are increasingly shifting from impulse-driven purchases to intentionalones. Our survey shows that shoppers’ top reasons for purchase include when theyneed something replaced or have a special event to buy something for. To adapt tothis new mindset, fashion players can focus on occasion-based campaigns, createurgency through marketing rather than discounts, and emphasize quality over trends. Methodology andresearch inputs The following insights are derived from a nationally representative survey of1,032 US consumers aged 18+ conducted in December 2025, supplementedby expert interviews with leading fashion brands and retailers, and deskresearch by BoF Insights, the advisory arm ofThe Business of Fashion. Comparisons reference a benchmark nationally representative cross-comparable survey of 1,248 US consumers conducted in December 2023 forthe 2024 edition of this report. 1) Consumer survey Nationally representative survey of US consumers age 18+ (N = 1,032) conducted inDecember 2025 2) Market data Market sizes and forecasts are triangulated from Euromonitor and BoF Insights analysis. 3) Expert interviews Greg Kerwin, Senior Vice President, Fashion by Informa Jitong Li, Consultant, US Apparel and FootwearResearch at Euromonitor Chris Worthington, International GM at Free People Marguerite Le Rolland, Global Insight Manager,Fashion at Euromonitor Jeff McAdams, Senior Vice President, Global Marketingat New Balance Steve Dool, Senior Director of Brand andMarketing at Depop Jeremy Lardeau, Senior VP of the Higg Index at Cascale How resilient is USfashion demand in2026 and beyond? “Today’s consumers are approachingfashion spending with intentionality,not impulse. They’re willing to spend,but they’re looking for high-qu