Fashion pulse: USA - March 2026

Consumer prices (March)

Apparel prices in the US rose 3.4 percent year-on-year in March, slightly above the overall inflation rate of 3.3 percent, according to the Bureau of Labor Statistics (BLS). Women’s and girls’ apparel led the increase at plus 4.4 percent, while men’s and boys’ apparel rose a more modest 1.3 percent. Footwear increased 2.4 percent, and jewelry and watches surged 9.4 percent, the highest rate in the fashion category. The tariff environment remains a factor: average tariffs on apparel imports stand at 14 to 15 percent, more than six times the overall US average of 2.35 percent, according to the American Apparel & Footwear Association (AAFA).

Retail sales (February and March)

Total retail and food services sales reached 738.4 billion dollars in February, up 0.6 percent from the previous month and 3.7 percent YoY, according to the Census Bureau advance estimates. The National Retail Federation (NRF) reported total retail sales up 6.59 percent YoY in March, based on transaction data from its CNBC/NRF Retail Monitor. Retail foot traffic appeared flat in March, though stronger weekday performance suggests calendar shifts drove the slowdown rather than weakening demand, according to location analytics firm Placer.ai. Bank of America’s Consumer Checkpoint reported that financial well-being neared a six-year high in February, though discretionary spending intent pulled back in March. The Office of Textiles and Apparel (OTEXA) publishes monthly apparel import data by country of origin, providing supply chain context for tariff-related price movements.

Macro context (March)

Consumer confidence diverged across the two major surveys. The Conference Board Consumer Confidence Index edged up to 91.8 from 91.0 in February, with the present situation assessment improving to 123.3. The University of Michigan Consumer Sentiment Index, however, fell to 53.3 from 56.6, its lowest reading of 2026, as rising energy prices weighed on consumer outlook. The divergence reflects different survey methodologies: the Conference Board emphasises labour market conditions, where hiring remains solid, while the Michigan survey captures household sentiment about prices, where rising gasoline costs are most visible.

The bottom line: US apparel prices are rising faster than overall inflation for the first time in months, driven by women’s apparel at plus 4.4 percent. The tariff burden on fashion imports remains the highest of any major sector, amplifying price pressures. Consumer surveys send mixed signals — the job market supports spending, but energy costs and geopolitical uncertainty are eroding household sentiment.

Note: The figures in this article are based on different reporting periods. Some indicators are already available for March, while others are reported with a time lag due to survey and publication cycles. This is common practice in official statistics and nevertheless allows for a reliable assessment of current market trends.