Apparel & Beauty

Apparel is diverging in 2025 as luxury and off-price outperform traditional retailers. Visit data shows luxury gaining ground among high-income shoppers, while off-price continues to scale with broad consumer appeal. Traditional apparel lags as value and exclusivity dominate demand.

After stability in early 2025, U.S. retail and dining traffic has declined for three straight months, with weakness spreading across states. Tariffs, income bifurcation, and Gen Z holiday cutbacks signal rising risks to consumer resilience heading into late 2025.

Thrift stores are defying retail headwinds – and with higher-income and rural and suburban shoppers joining the mix, thrifting has gone mainstream. As tariffs loom, secondhand appears set to remain one of retail’s standout success stories.

Nordstrom's Anniversary Sale was longer than in previous years, but daily visits during the event were up compared to 2023 & 2024 – highlighting the brand value and positive consumer perception that the retailer has successfully cultivated in recent years.

Bath & Body Works (BBWI) leveraged its semi-annual sale to drive visit growth despite economic headwinds.

Ulta (ULTA) drives Q2 2025 growth with new stores and a clear pivot away from Target. Discover how the brand's core business and customer base are set to fuel its next chapter.

Summary: Gap Inc. showed real progress in Q2 2025, with overall visits up 3.6% year over year. Old Navy drove the gains with a 4.8% boost, while Gap posted positive traffic despite a smaller store base. A strong spring surge, partly fueled by tariff pull-forward, gave way to softer summer visits. Meanwhile, the return of middle-income shoppers signals that revitalization efforts are resonating. 

Discover how three major players in the sports and activewear space – DICK’s, lululemon, and Academy Sports – are navigating current economic headwinds through strategic adaptation.