From 2013 to 2019, household expenditure on clothing and footwear in Canada saw a generally upward trend, with compound annual growth rates (CAGR) mostly hovering around 3.5%. This changed dramatically in 2020, with a significant -19.37% year-on-year drop due to the COVID-19 pandemic. Spending rebounded quickly in 2021 and 2022, but a slight decline was observed in 2023, standing at 52.93 billion CAD. The CAGR over the previous five years (2019-2023) was at 0.92%.

Looking ahead, the forecast from 2024 through 2028 suggests a modest growth rate for household expenditure on clothing and footwear. The projected 5-year CAGR is 1.01%, indicating a more stable but slow recovery. By 2028, expenditure is forecasted to reach 56.41 billion CAD, reflecting a growth rate of 5.16% from 2023.

Future trends to watch for:

Cost-of-living adjustments and the influence of inflation on household expenditure patterns.
The rise of e-commerce and its effects on how consumers spend on clothing and footwear.
Continued impact of global supply chain disruptions and sustainability trends on the apparel industry.