In 2023, the turnover of clothing, shoes, hats, and textiles in China stood at approximately 18.74 hundred billion Yuan Renminbi. From 2024, the turnover shows a forecasted upward trend, growing from 18.98 in 2024 to 19.91 in 2028. The year-on-year growth rates demonstrate moderate increases, with annual increments slightly above 1.1%. Over the five-year period, the compound annual growth rate (CAGR) is projected to be around 1.3%.
Future trends to watch for:
- Rising consumer spending power and urbanization impacting clothing turnover.
- Influence of e-commerce growth and evolving fashion trends.
- Potential risks from economic slowdown or trade tensions affecting the market.
