In 2023, household expenditure on clothing and footwear in Germany was at 76.08 billion Euros. The forecast indicates a gradual decline in expenditure from 75.78 billion Euros in 2024 to 74.6 billion Euros in 2028. Year-on-year, this represents a reduction of approximately 0.4% annually. Over the past five years, the compound annual growth rate (CAGR) is projected at a negative value indicating a downward trend in spending.
Future trends to watch for include:
- Potential impacts of economic factors such as inflation and consumer confidence on spending behavior.
- Changes in consumer preferences towards sustainable and second-hand clothing.
- The influence of e-commerce growth on traditional retail expenditure patterns.