According to GlobalData ‘The clothing market in France until 2028’ According to the report, apparel will be the weakest category among accessories, shoes and apparel, with an expected CAGR of 1.9% between 2023 and 2028, and its market share will decline by 0.6 percentage points to 68.8%.
This decline is attributed to many consumers’ reduced interest in keeping up with rapidly changing fashion trends due to financial and environmental concerns.
In contrast, accessories are expected to see the strongest growth at a CAGR of 2.8%, reaching €6.1 billion ($6.73 billion) in 2028, driven by the resilience of the luxury market, where ultra-wealthy shoppers are less affected by the inflation.
Similarly, the footwear market is expected to grow at a CAGR of 2.4% between 2023 and 2028, with market share expected to increase by 0.3 percentage points to 20.4%.
GlobalData explained that this growth is driven by the continued popularity of athletic footwear, which offers superior comfort and versatility, in line with consumers’ priority on value for money.
The women’s clothing category will grow the slowest
The report also highlighted that women’s clothing will experience much slower growth between now and 2028, with an expected CAGR of just 1.4%, as French women increasingly prioritize the quality and versatility of their purchases over buying in bulk.
Menswear is expected to lead the apparel market with a CAGR of 2.8%, fueled by growing interest in fashion, especially within sportswear and streetwear.
This will be followed by children’s clothing, which is expected to grow by 2.1%, supported by its essential nature as items require regular replacement due to growth spurts and wear and tear.
Recently, Prices in non-food stores in Britain experienced deeper deflation in September with significant reductions in categories such as clothing and furniture, pushing overall retail prices to their lowest level since August 2021.
“In data: French clothing market shrinks due to financial problems, environmental concerns” was originally created and published by Simply stylea brand owned by GlobalData.
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