In 2023, the cost of goods sold for textile, clothing, and footwear merchant wholesalers in Canada was estimated at approximately 12.5 billion Canadian dollars. The forecasts indicate a rising trend from 2024 through 2028, reaching 15.045 billion Canadian dollars. Year-on-year growth rates from 2024 to 2028 show a steady increase, with a five-year compound annual growth rate (CAGR) of around 3.7%.
Future trends to watch for include:
- The impact of technology advancements on supply chain efficiency.
- Potential effects of trade policies and tariffs on the costs of imported goods.
- Consumer behavior changes, particularly toward sustainable and ethical fashion.
