From 2013 to 2023, the per capita value of men's and boys' cotton shirts in Belgium decreased from $18.41 to $16.34, reflecting a long-term declining trend. This represents a 11.2% drop over ten years, with recent years showing smaller year-on-year decreases: 0.6% from 2021 to 2022 and 0.5% from 2022 to 2023. The five-year compound annual growth rate (CAGR) was -0.7%, indicating an average annual decrease throughout the latter half of the decade.
Key future trends to watch:
- Potential rebound driven by increased demand as fashion trends cycle back toward classic designs.
- Impact of sustainability concerns possibly spurring growth in organic cotton products.
- Changes in consumer fashion preferences influenced by global events and digital influencers.