Clothing sales in the U.S. have been continuously dropping from 2015 to 2016 and are predicted to continue to take a down spiral for the next decade.
An an analysis from Bloomberg suggests that it is due to the aging population. As women get older they tend to buy fewer things. Although younger shoppers are still buying clothes, they tend to be purchasing clothes that are cheaper due to their spending power. So they will shop at cheaper, fast fashion retailers like Forever 21 or H&M.
Watch the video below to get the inside scoop:
