I think people certainly had more formal clothes, although fewer clothes total than we have now. People also took formal occasions seriously. When I was a kid, people would never have shown up at a holiday party in jeans etc. But, a lot of people do now.
I remember going to church with a hat or little circle of lace on my head, (with the bobby pin that would puncture my skull all during Mass) and white gloves, a dress, tights and dress shoes. At Girl Scouts, we had a full Dress Uniform, with tie, socks or matching tights, GS buttons, sash and pins and badges, hat or beanie, white gloves
, all of it. When my kids were in GS, most of the kids didn't even have a sash or vest, not to mention a full Dress Uniform.
I think people are a lot less formal now. My youngest one is in a play at school and part of her costume calls for dress shoes. I realized she doesn't even have any dress shoes. I always had "school clothes" "church clothes" and "play clothes" when I was a kid. And G*d help you if you wore the wrong kind of clothes to an event.
Although it reflects some more relaxed attitudes, I do like the way people dressed in the past (the 80s not withstanding. UG, ugly clothes back then.)