Shopper spending on apparel, tools, and footwear has declined by 3 per cent in 2024, in keeping with a report from Shopper Edge. This downturn has impacted fast fashion and opulent producers, whereas the resale market, along with thrift and consignment, continued to develop.
Whereas luxurious gadgets and footwear/athletic apparel was underneath expectations via the yr, the resale market continued to understand momentum and purchases elevated by 1 per cent.
No matter these common declines, spending in some underperforming apparel subsectors confirmed indicators of enchancment inside the fourth quarter of 2024. This constructive growth inside the final quarter would possibly level out a additional promising outlook for the apparel commerce in 2025, the report added.