The gross income of clothing in Canada for the year 2024 is forecasted at CAD 57.0 million, down slightly by 1.75% to CAD 56.0 million in 2025. This value is projected to remain stable in 2026, but is expected to decrease by another 1.79% to CAD 55.0 million in 2027, and stay at this level until 2028. For reference, the actual gross income for 2023 was CAD 58.0 million, making the year-on-year variation from 2023 to 2024 a decrease of approximately 1.72%. Over the last two years, we've seen a subtle downward trend, with a 1.72% decline from 2023 to 2024, and another 1.75% from 2024 to 2025. The compound annual growth rate (CAGR) over the last five years suggests an average annual decrease in gross income.

Future trends to watch for:

Impact of online retail growth on traditional clothing retail revenue.
Effect of changing consumer preferences towards sustainable and ethical fashion.
Influence of economic fluctuations and inflation on consumer spending power.
Role of international trade policies and tariffs on clothing imports and exports.