From 2013 to 2018, household expenditure on clothing in Mexico showed consistent growth, with a peak year-on-year increase of 11.17% in 2016. The overall trend was positive until 2019 when growth slowed. The COVID-19 pandemic caused a significant dip in 2020, with a -28.44% year-on-year decrease. Recovery began in 2021 with a 27.85% increase, and values continued rising through 2022.
In 2023, the expenditure stood at 312.3 billion Mexican Pesos, a 2.38% increase from the previous year. The five-year CAGR leading up to 2023 was modest at 2.42%. Forecasts indicate a stable growth trend, with household expenditure expected to reach 358.47 billion Mexican Pesos by 2028. The forecasted five-year CAGR is 2.19%, implying 11.42% growth from 2024 to 2028.
Future trends to watch for include potential impacts of economic fluctuations, changes in consumer behavior post-pandemic, and effects of new trade policies. Advances in e-commerce and digital marketing strategies might also significantly influence expenditure patterns.
