Monocolumn: Forecast 2011: Menswear’s E-Commerce Success Story

Monocolumn is Monocle’s daily bulletin of news and opinion. Catch up with previous editions here.

Despite companies from Slowear to Hermès expanding their global retail presence during the upcoming year, bricks-and-mortar boutiques will face steep competition in 2011 from the e-commerce industry. With sales having increased by 11.4 per cent over the first two weeks of November 2010 alone, e-commerce is one of the fastest growing sectors in retail. And, this year it’s the men’s market that will see the greatest change.

Later this month, net-a-porter.com is set to launch its much-heralded menswear-only site, Mr Porter. Natalie Massenet’s London-based company, which was bought last April by Richemont in a deal worth almost €60m, already has more than 3 million (predominantly female) unique users across the globe. Although valued at more than €1bn in the UK alone, there are few shopping sites targeted directly at men. “Most men’s online retail is an afterthought,” says Tyler Thoreson, editorial director of Gilt Man, the menswear arm of Gilt Groupe. Launched in 2007, New York-based Gilt specialises in 36-hour “flash sales” of designer pieces to around one million visitors each month.

With a men’s business valued at over €75m in sales, the company is focusing new efforts on a customer that currently comprises only one third of its user base. Following 10 successful full-price men’s sales, Gilt will launch its full-price menswear site in July, just in time to capture the pre-autumn market. “Rather than an experience designed to reflect the way women shop, we see an opportunity to build something from the ground up with men’s distinct needs in mind,” says Thoreson.

Understanding the male consumer online will be a challenge. While men typically buy less frequently than the female consumer, they tend to spend more on each purchase.

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image by Michael Tunney