Sales of clothing and accessories dropped 0.8 percent in February compared to the month prior, according to US Census data.
In the face of an overall slowdown in spending, some retailers are faring better than others; On running sales grew by 92 percent year-over-year in its most recent quarter, while Olaplex revenue dropped by 21.5 percent.
Analysts say the top performers have one thing in common: They are able to convey value to the consumer.
A new study from Trove and Worldly found that if luxury and outdoor apparel brands can grow their resale offering to account for a quarter of total revenue, then they can substantially reduce carbon emissions. Fast fashion, not so much.
The US Federal Trade Commission filed a long-awaited antitrust lawsuit against Amazon on Tuesday, charging the online retailer with harming consumers through higher prices in the latest US government legal action aimed at breaking Big Tech’s dominance of the internet.