A broader mix of styling for all ages will strengthen and ready the denim industry for future growth. Millennials (ages 18-34), who represent the largest dollar segment of jeans sales at 28%, are showing renewed interest in the U.S. denim market according to global information company, The NPD Group.
According to a new report by Mintel, more than three in 10 American adults say they own between four and six pairs of jeans. Analysts expect the category to continue growing due to market triggers such as more casual work environments, the obesity epidemic demanding plus size jean options and the growing Hispanic population and their purchasing power. 16% of consumers are willing to pay $100 or more for jeans with a great fit.