A year ago, a year ago for a man who wore a suit to work and was happy to look like a boss, it would have been worth $2,500.
Now, the same suit is worth $4,000.
And if the same man were to wear a dress, it is worth over $5,000 a year.
For the average man, this is the second-highest value for his clothing.
For men of all ages, the figure is around $2.4 million a season.
But while the trend for men to wear suits has gone up, for women, it has gone down.
For example, in January, there were 1,534 men wearing suits, compared with 1,890 women, according to the National Men’s Wear Daily.
For women, there was a drop of about 150 to 150 per cent, said Carolyn Lough, a senior analyst with research firm The NPD Group.
Women now wear suits at home and in the office, but men’s suits have remained more casual and casual is still a big selling point, she said.
Lough said she believes the men’s trend is partly due to men buying more casual clothes online, but also to the fact that women have become more likely to wear their clothes casually.
“The way we dress in a way is the way that we do it,” she said, adding that the number of men wearing their suits has remained stable, despite an overall increase in men wearing them in the workplace.
There is still no consensus as to what causes men’s and women’s clothing to be more expensive, said Lough.
“A lot of it is about price, but there is also a lot of the price is driven by what’s happening in the world,” she added.
Women have traditionally bought their clothes from family and friends, said Stephanie Loehr, the executive director of the American Society of Civil Engineers.
“When a woman has a big family and a lot friends, they can buy more than the average guy,” she explained.
“They can afford to wear more clothes and it is not just a trend with men.”
In 2017, men made up about 65 per cent of the market for men’s clothing, and women made up between 58 per cent and 63 per cent.
But Lough cautioned that while women have a lot more choices online, they are still far behind men.
She pointed to the rise of online shopping in the United States and Europe, as well as other countries such as Australia and New Zealand, where women are buying from their local clothing stores, and men are buying online.
Loehre said that while men are the main buyers of women’s suits online, she believes it is the other way around, because women are also buying more expensive items online, which she thinks is a trend.
“Women buy more expensive than men.
They are buying more items online.
Men are buying less expensive items,” she told The West Australian.
“But men are also purchasing more expensive women’s clothes online.
So it seems that women are just more conscious about buying their clothes online and men seem to be less conscious about that.”
For women who work in the retail and apparel industry, the cost of buying their clothing online is a huge factor in deciding how much they are willing to spend on their clothing, said Victoria-based fashion blogger Katie Smith.
“I’ve had a lot people come up to me and ask me how much it would cost to buy their clothes on their own,” she recalled.
“It’s really not a question of how much you can afford, but what’s the value for you and the community you’re in?”
In 2016, Victoria ranked second behind only New South Wales for the most expensive city in the country for men.
Smith said while she had not been able to compare her own clothing to those of other shoppers, she found it to be the cheapest option for her clients.
“We are looking at the price of our products,” she continued.
“So I think that’s one of the biggest reasons why men buy more.”
Smith said she had seen men pay more than $100 per pair of clothes.
“In general, women seem to have the luxury of shopping for themselves,” she noted.
“What women do, is they look at how much money they can afford and then they buy their stuff online, whether it’s on eBay or from a local clothing store.”