The forecast for UK household expenditure on clothing and footwear from 2024 to 2028 shows a steady increase starting at 87.63 billion Euros in 2024 and reaching 92.92 billion Euros by 2028. In comparison, the expenditure for 2023 was lower, indicating a positive growth trend. The year-on-year percentage increase averages around 1.5%. Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) is approximately 1.5% as well, suggesting consistent growth in consumer spending in this category.
Future trends to watch for include:
- Impact of sustainable fashion on consumer spending.
- Technological advancements in retail and e-commerce affecting purchasing behaviors.
- Economic factors such as inflation and consumer confidence potentially influencing expenditure.
