The nominal expenditure for Clothing and Footwear in Turkey has seen significant fluctuations over the past decade. The period from 2013 to 2023 recorded multiple peaks and troughs. After a substantial increase of 48.79% in 2014, the growth rate began to moderate until 2016 when a sharp decline of 30.21% was observed. The expenditure saw some recovery around 2017 but dropped significantly again in 2018 and 2020. An upward trend resumed in 2021 with a 21.09% increase, peaking in 2022 at 30.12%. However, by 2023, there was a slight decline of 5.65%, landing at 34.63 Thousand Euros.
Between 2024 and 2028, the forecast suggests a moderately stable increase, with a 5-year CAGR of 0.95% and an overall growth rate of 4.83%. The expenditure is projected to reach 36.76 Thousand Euros by 2028.
Future trends to watch include:
- Economic recovery and its impact on consumer spending power.
- Inflation rates and their effects on nominal versus real expenditure values.
- Changes in consumer behavior towards value and premium segments in the clothing and footwear market.
- Technological advancements and e-commerce growth potentially affecting market dynamics.
