like random dragon said. At early levels I am just looking to get items with the most coverage I can while getting my encumbrance down as best I can. And storage up.
Its a difficult balancing act to get all those the way you want, especially early game. Often you will just have to say "well I can sacrifice ____ stat(storage space, encumbrance/speed, heat/cold) for now till I can get some better stuff.
Overall here is a basic outlook at your "armour"
encumberance - look at what effects it is having by using @ key. Tabbing over (>) once so you are looking at your clothing effects. scroll up/down with arrow keys. Encumbrance in different places effects you differently. Your playstyle can go various directions but keeping in mind what bonuses/problems your playstyle has is important.
speed - naturally if you start wearing LOTS of bulky clothing you can’t run/swing weapons/do other stuff as effectively. The trade-off being often more armor, more heat, and more storage space. Keeping an eye on your base speed/movement cost is always a good idea (can be seen in the hud on the side or in the @) your base is normally 100/100 meaning actions take a normal amount of time.
storage - more pockets = better, no one wants to have to run halfway across town 20 times to get the items they want.
coverage - effects how likely an attack is to be blocked by your armor, making it take damage instead or negating it all together. iirc 100% coverage is not 100% chance that attack here will be stopped by armour, especially if the armor is pierced in the attack
cut/bash/acid/etc… protection - how strong the protection is against that type of damage. Note this doesn’t help you if damage doesn’t hit the armor (such as it might with lower coverage)
environmental protection - this pertains mostly to eyes/mouth and will protect you from damage/effects/illness that might otherwise become problematic. Helps protect from everything from colds/flus to toxic gas and smoke.