Denim is an attitude, not a pair of pants’. Denim jeans, which have historically been considered a universal symbol of freedom, rebellion, and expression of individualism, are slowly becoming a standing symbol. Nowa-days, fit, style and luxury are getting increasingly important for consumers.
Kellogg Views About Denim
He Said “Wearing premium denim jeans may be a very emotional proposition and it’s an indulgence; it’s like why would you purchase a BMW versus a Volkswagen or why would you treat yourself to Häagen-Dazs® versus Dryer’s ice cream? A 200 USD pair of jeans may be a splurge. Compared to a 50K BMW, it’s a reasonable splurge. Compared to a 20 USD Chanel lipstick it’s not. I feel that the psychology behind it’s that premium denim jeans are an indulgence. Wearing your favorite denim jeans brand causes you to feel better, you think that you look better, and it gives you confidence”.
Kellogg (2013) noted that although the apparel business isn’t a line, she expected the premium denim jeans market segment to grow over the subsequent 10 years. as an example. current 7 for All Mankind sales at 415 million is anticipated to grow to 645 million USD within 5 years (Security and Exchange Commission, 2012; VF Corporation, 2013). Denim jeans are increasingly important to consumers: Women account for 50% of the market share, followed by men (27%) and youngsters (23%) (Newbery, 2009). for a few companies like Levi Strauss & Co., men account for a substantially larger market segment than women.
The Worldwide Production of Denim
During this context, it’s interesting that the worldwide production of denim jeans is over 1.7 billion jeans annually. Although it’s consumed globally, 70% of worldwide denim textile production occurs in Asian countries. Once thought of solely as workwear. Quantitative data and intrinsic consumer value are equally important when analyzing the importance of denim. The intrinsic value of denim drives their economics because it’s how of life for consumers.
Denim Pants, The jeans market consists of a full range of retail price points from 25 to over 800 USD. Jeanswear typically refers to jeans that sell in mass merchandisers and mid-tier retail stores for under 100, whereas premium denim jeans typically sell in the contemporary department and specialty stores for over 130 USD.
Globally, denim consumers differ among Europe, the US, and Asia. European consumers desire high priced fashion denim, whereas American consumers generally pay but international consumers. American men typically spend a mean of fifty to over 75 USD for denim jeans whereas Australian men are willing to pay 50–800 (USD) for jeans and European consumers typically buy premium denim jeans retailing for quite 130 USD. Asian consumers prefer mid-tier American branded jeanswear that is of top quality. Chinese consumers are cognizant of the worth of denim jeans, which makes it the foremost important purchase decision, whereas Indian consumers view fit and country of origin before considering the price.
Denim Fabric and Apparel Business
Denim fabric and finished garments are globally imported and exported. As top tier developed countries, the US and European Union (EU) are indicators of the economic importance of denim. like most apparel products, the US and EU import most of their denim3 textiles and apparel. In 2012, the US imported 30.5 million m2 of denim fabric valued at 79.7 million USD and 4.1 billion USD of men’s and women’s blue denim trousers. Mexico is the leading supplier of raw denim pants (before finishing), followed by China and Bangladesh.
These three countries account for over 66% of raw denim imported into the US. Most of the imported blue denim was considered low or mid-tier price points. The raw denim (before finishing) import price ranged from 6 to 14 USD for men’s and boys’ jeanswear and 6 to 11 USD for women’s and girls’ jeanswear (Textiles Intelligence, 2013). Imported denim jeans typically sell for mid-tier price points during which the average consumer spends 35 USD. The US may be a major exporter of textiles
The Value – Denim Pants
The importance of denim isn’t simply numeric valuation; rather, it’s valuable to consumers. Many consumers value denim jeans due to their practicality in numerous social settings.