Between 2013 and 2023, the value of wages and salaries in the underwear sector in Germany has displayed a downward trend, reducing from 224.1 million Euros to 148.9 million Euros. The value experienced sharp declines in certain years, such as 2017 (-17.06%) and 2020 (-18.71%), which contributed significantly to this overall decline. Although there were minor increases in years like 2016 (3.16%) and 2019 (2.8%), they were not sufficient to counteract the prevailing downward trend. From 2021 onwards, the values began to stabilize slightly but continued to show a decreasing trend. For instance, the year-on-year variation from 2022 to 2023 was -1%, and the Compound Annual Growth Rate (CAGR) over the preceding five years averaged -1.95%.
Going forward into the forecasted period from 2024 to 2028, the value is projected to continue its decline, falling from 141.6 million Euros in 2024 to 112.7 million Euros in 2028. The forecasted CAGR for the next five years suggests a further decrease at an average rate of -4.46% per year, accumulating to a total decline of -20.41% over the period.
Future trends to watch for include the impact of automation and potential cost-saving technologies on wages, shifts in consumer preferences impacting market demand, and any regulatory changes that might affect the labor costs in the underwear sector. The ongoing economic conditions and changing trade dynamics could also play a significant role in shaping future compensation trends.
