The household consumption of clothing and footwear in the Philippines remains stable in 2024 and 2025 at a constant value of 1.5 (2018 prices). However, starting in 2026, consumption begins a gradual decline, with values dropping to 1.4 and continuing to decrease to 1.3 by 2027 and 2028. Compared to 2023, when consumption stood at 1.6, this represents a year-on-year decrease of about 6-7% for each subsequent year after 2025. The compound annual growth rate (CAGR) from 2024 to 2028 indicates an average annual decline of approximately 3.5%.
Future trends to watch for include shifting consumer preferences towards sustainable and eco-friendly clothing, the impact of e-commerce growth on traditional retail, and potential economic factors affecting household disposable income in the Philippines.
