The forecasted average expenditure per household on clothing and accessories in Canada shows a slight decline from 2024 to 2028. In 2023, this expenditure stood at 3.34 thousand Canadian dollars. The year-on-year variation indicates a small decrease in spending, with expenditures dropping from 3.32 thousand dollars in 2024 to 3.29 thousand dollars in 2028. The compound annual growth rate (CAGR) over the five-year period (2024-2028) is expected to be negative, reflecting a gradual downward trend.

Future trends to watch for include:

Factors influencing discretionary spending, such as economic conditions and consumer confidence.
The impact of e-commerce growth on traditional retail sales and expenditure patterns.
Sustainability trends leading to possible shifts in consumer preferences towards eco-friendly and sustainable fashion.