Consumer spending on apparel, gear, and footwear has declined by 3 per cent in 2024, in line with a report from Consumer Edge. This downturn has impacted fast development and splendid producers, whereas the resale market, along with thrift and consignment, continued to develop.
Whereas luxurious objects and footwear/athletic apparel was below expectations by means of the yr, the resale market continued to attain momentum and purchases elevated by 1 per cent.
No matter these whole declines, spending in some underperforming apparel subsectors confirmed indicators of enchancment throughout the fourth quarter of 2024. This constructive sample throughout the final quarter could level out a further promising outlook for the apparel commerce in 2025, the report added.