Just a couple of years ago, Adam Conn might have come to work in khakis and a sports jacket. But today, in these uncertain economic times, he's taking no chances.
The commerce graduate, who recently landed his first full-time job as an account executive at Maple Leaf Sports and Entertainment, promptly shelled out $1,500 for three suits, two shirts and two ties.
?With the economy, my job doesn't feel as safe as it probably would have a couple of years ago,? said Mr. Conn, 22, who began his job selling corporate ticket packages for the Raptors in mid-December. ?I want to step up my game in every aspect, whether it's working harder, putting in the extra hours, being more productive ? but also looking as good as I can ? ?Image is extremely important. If I am spending money on clothes, I am spending it on suits or ties. I do need to look my best.?
Retailers are moving to cash in on the recessionary trend: Men, particularly younger ones, who want to look employable or ensure they hang on to a job are donning suits and ties.
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Last year, as the economy began to dive, sales of men's apparel over all dropped 2 per cent while sales of men's career wear rose 2 per cent, according to NPD. What's more, sales of suits rose 10 per cent, while dress pants were up 8 per cent.
The growth was driven by younger men, such as Mr. Conn. Among men 35 and under, career wear sales rose 12 per cent to $361-million in 2008; those sales slipped 3 per cent to $526-million among men 35 to 54.
