Where once you might have attended a wedding where everyone was wearing suits or formal dresses, today’s partygoers are going casual, according to GlobalData. A survey* by the data and analytics company notes that 50% of consumers indicated that they prefer donning casual occasionwear—a clothing category that caters outfits worn to celebratory events such as weddings, parties, christenings, and engagements—while only 25.1% said that they prefer formal attire.
Half of consumers favor casual clothing when attending parties and events
According to GlobalData’s report, ‘Occasionwear in Apparel Industry’, there has been a shift towards more casual attire when attending parties and events—especially since pandemic restrictions were removed. People are also prioritizing value for money and comfort when shopping.
Ramya Suhas Nair, Retail Analyst at GlobalData, comments: “The occasionwear market looks very different now, compared to pre-pandemic. Many consumers are eager to embrace their freedom now that COVID-19-related restrictions have been removed, and start attending parties again. Our survey reveals that 61% of consumers plan to attend more celebratory events in the coming months until June 2023 compared to 2019.
“Retailers are keen to tap into this uptick in demand, as well as a growing preference for more casual attire—with companies such as Reiss and ASOS now selling a mix of formal and casual occasionwear. Reiss now features elegant, ribbed tank tops and wide-leg elasticated trousers in its occasionwear selection, while ASOS’ occasionwear ranges from highly embellished gowns and sequined outfits to simple casual slip dresses. Coast, which specializes in women’s occasionwear, features elegant styles suitable for all occasions. In October 2021, Coast and the wedding planning website, Hitched, teamed up to provide a wedding product guide on hitched.co.uk that included beautiful outfits for brides, bridesmaids, and guests.”
Occasionwear rental market experiences significant growth due to affordability
One key factor driving the growth of more casual attire is affordability. Online fast fashion retailers such as boohoo.com, PrettyLittleThing, and Fashion Nova have been leading the affordable occasionwear market, while Shein has grown exponentially in the past two years, gaining a share in the market. However, some retailers have chosen a different approach, choosing to collaborate with other brands instead to retain relevancy among cost-conscious consumers. The occasionwear rental market has also experienced significant growth due to its affordability and sustainability.
Nair continues: “Selfridges and French Connection have collaborated with Hurr and Zoa Rentals, respectively, to launch online rental websites where consumers can rent luxury and designer occasion pieces at reasonable prices. Little Mistress and Misspap also launched their own collections on the rental platform, Hirestreet, providing a selection of occasionwear and partywear at affordable prices.”
A fifth of people plan to spend more money on events while a third go premium
While there is a trend towards affordable clothing, GlobalData’s report also reveals that 20.3% of consumers intend to buy more products for each occasion event, while 35.6% of customers plan to buy from premium brands.
Nair adds: “After living through a series of lockdowns and restrictions, consumers are understandably eager to get back to normality and make up for all the important moments they’ve had to postpone. Retailers will benefit from the surge in celebratory occasions and have an opportunity to capitalize on emerging trends such as casualization.”
* GlobalData’s UK Monthly Consumer Views – March 2022, with 2000 respondents, published in July 2022
