No need to wear a belt if no one is wearing pants
Fewer Americans will be engaging in the tradition of loosening their belt after the Thanksgiving meal is over.
The Pandemic has negatively impacted belts sales.
Global belt sales are dramatically down due to the Stay-at-Home ordinances. Everyone’s home spending budgets have been reprioritized.
With sweat pants, stretchy pants and cozy clothes in general formal clothes have been in the decline. With stretchy pants waistbands you don’t need a belt.
Some have opted to no pants at all.
Year after year there has been decline in belt sales forecast for 2020. Western Europe’s drop of $1.5 billion, USA sales decline of $2.5 billion and Pacific-Asia drop of $7.5+ billion is significant.
In recent years belt sales are deteriorating.
Latin America −24%
North America −22%
Western Europe −21%
Eastern Europe −16%
Asia Pacific −13%
Middle East and Africa −3%
After the global pandemic is over it will be time to buckle-up since belts sales should increase.