Market Sizing - Men's Suits

Looking at this question, i would break it down in the following way.

   How Many Suits in the US         /                    Replacement Period of a Suit (3 or 5years)

                                             For How many  suits in the US

                                # Men who wear suits    x          # suits per man

US Male Pop x % of people who own suits             Segment into 3, normal individual who         300m x 50% (male) x 20% men (lots of labour)          would have 1 suit, worker with 3-4 suits and                                                                              businessmen who may have around 6 (1                                                                                               for everyday)

That would be my general structure to the problem.

Hope this helps.

Hi,

A good starting point could be: segment by age * average price per suit * suits per year * correction factor for those people who never buy a suit

Clarification questions:

- Does it only include adult men's suits? 

Approach 1:

# of suits sold = # of men purchased suits * average # of suits purchsed per year per man

segment by ages:

20-40: 25% of the population, 3 suits per year;

40-60: 25% of the population, 2 suit per year;

60-80: 25% of the population, 1 suit per year

further segment could be done within each age bucket, such as income buckets, occupancies, etc.