Household expenditure on clothing and footwear in Mexico experienced notable fluctuations from 2013 to 2023. The expenditure value reached 425.23 billion MXN in 2023. Over the recent two-year period, 2021 saw a significant year-on-year recovery by 26.78% post-pandemic, followed by a strong growth of 21.88% in 2022. However, 2023 showed a slight decline of 0.48% year-on-year. The compound annual growth rate (CAGR) over the past five years (2018-2023) stands at 2.31%.

Forecast data indicates a gradual increase, projecting household expenditure to rise to 483.11 billion MXN by 2028, driven by a forecasted five-year CAGR of 2.02% from 2024 onwards. This forecast suggests a cumulative growth rate of 10.54% over the next five years.

Future trends to watch for:

Impact of economic recovery post-COVID-19 and potential inflation rates
Changes in consumer behavior towards sustainable and ethical fashion
Influence of e-commerce and digital payments on expenditure patterns
Government policies and trade agreements affecting the clothing and footwear market