Fashion Retail Industry Statistics

87% of fashion executives expect the industry’s profits to be challenged in 2024 [1]

The fashion industry’s economic profit totaled $27 billion in 2022 [1]

The top 20 fashion companies generated 144% of industry economic profit in 2022 [1]

Zara owner Inditex reported revenue of €35.9 billion in FY2023 [2]

Inditex gross profit reached €20.8 billion in FY2023 [2]

H&M Group net sales were SEK 236.0 billion in 2023 [3]

H&M Group operating profit was SEK 14.5 billion in 2023 [3]

Nike reported revenue of $51.2 billion in fiscal 2024 [4]

Nike direct revenues were $21.5 billion in fiscal 2024 [4]

Lululemon net revenue rose to $9.6 billion in 2023 [5]

Lululemon comparable sales increased 13% in 2023 [5]

Ralph Lauren revenue was $6.6 billion in fiscal 2024 [6]

Ralph Lauren gross margin expanded 180 basis points in fiscal 2024 [6]

PVH Corp. revenue was $9.2 billion in 2023 [7]

PVH’s direct-to-consumer revenue grew 2% in 2023 [7]

Levi Strauss & Co. net revenues were $6.2 billion in fiscal 2023 [8]

Levi’s direct-to-consumer business represented 42% of net revenues in fiscal 2023 [8]

Fast Retailing revenue totaled ¥2.77 trillion in fiscal 2023 [9]

UNIQLO International revenue reached ¥1.44 trillion in fiscal 2023 [9]

Gap Inc. net sales were $15.6 billion in fiscal 2023 [10]

Gap Inc. gross margin was 38.8% in fiscal 2023 [10]

Abercrombie & Fitch net sales reached $4.28 billion in fiscal 2023 [11]

Abercrombie & Fitch operating margin was 12.7% in fiscal 2023 [11]

American Eagle Outfitters revenue was $5.26 billion in fiscal 2023 [12]

Aerie revenue surpassed $1.5 billion in fiscal 2023 [12]

Kontoor Brands net revenues were $2.61 billion in 2023 [13]

VF Corp. revenue was $10.5 billion in fiscal 2024 [14]

Moncler Group revenues reached €2.98 billion in 2023 [15]

Canada Goose revenue was C$1.33 billion in fiscal 2024 [16]

Shein was valued at $66 billion in its 2023 funding round [17]

Temu added 51 million U.S. monthly active users between March and November 2023 [18]

52% of apparel shoppers say free shipping is the most important factor in online checkout [19]

The average American throws away 81.5 pounds of clothes each year [20]

U.S. consumers bought 68 garments per person in 2018 [21]

Clothing utilization has decreased by around 36% compared with 15 years ago [22]

Consumers kept garments for half as long in 2019 as they did 15 years earlier [23]

60% of consumers consider sustainability an important factor when making a luxury fashion purchase [24]

71% of Gen Z consumers say they try to buy from companies they consider ethical [25]

62% of Gen Z prefer to buy from sustainable brands [25]

73% of global consumers would definitely or probably change their consumption habits to reduce environmental impact [26]

41% of consumers discover new fashion brands via social media ads [27]

32% of consumers discover new fashion brands via search engines [27]

21% of consumers discover new fashion brands via online marketplaces [27]

58% of U.S. consumers prefer buying clothing in-store rather than online [28]

42% of U.S. consumers prefer buying clothing online rather than in-store [28]

49% of U.S. shoppers have returned clothing bought online because it did not fit [29]

33% of U.S. consumers returned clothing bought online because it looked different than expected [29]

67% of consumers consider sizing inconsistency a major frustration when shopping for apparel online [30]

59% of consumers consult reviews before buying clothing online [31]

46% of consumers won’t buy a product if there are no reviews [31]

83% of shoppers say convenience while shopping is more important now than five years ago [32]

70% of consumers say inflation has changed their shopping behavior [33]

35% of consumers say they are buying fewer clothing items because of higher prices [33]

26% of consumers are trading down to cheaper brands due to inflation [34]

63% of shoppers are willing to pay more for brands that are transparent about sustainability [35]

57% of consumers are willing to change purchasing habits to help reduce negative environmental impact [35]

31% of Gen Z bought secondhand apparel in 2023 [36]

52% of younger consumers say they have shopped for apparel on a resale site [36]

21% of global fashion retail sales are expected to be online in 2024 [37]

U.S. e-commerce penetration in fashion is projected at 44.1% in 2024 [38]

The average revenue per user in worldwide online fashion is projected at $270.80 in 2024 [37]

The number of online fashion shoppers worldwide is projected to reach 2.9 billion by 2029 [37]

Mobile devices accounted for 76% of retail site traffic in Q4 2023 [39]

Mobile devices generated 66% of online orders in Q4 2023 [39]

Social commerce sales in the U.S. are projected to reach $79.6 billion in 2025 [40]

56% of Gen Z consumers bought clothing directly through social media in the prior 12 months [41]

47% of U.S. consumers have abandoned an online purchase because shipping costs were too high [42]

The average documented online shopping cart abandonment rate is 70.19% [42]

18% of U.S. online shoppers abandoned an order in the last quarter because delivery was too slow [43]

35% of consumers say they would shop online more often if they could try on clothes virtually [44]

42% of shoppers have used a retailer’s digital fitting room or virtual try-on tool [45]

71% of consumers expect companies to deliver personalized interactions [46]

Companies that grow faster drive 40% more of their revenue from personalization than slower-growing peers [46]

80% of business leaders say consumers spend 38% more when their experience is personalized [47]

62% of consumers will abandon a brand if their experience is unpersonalized [47]

73% of shoppers use multiple channels during their buying journey [48]

Retail media ad spending in the U.S. is expected to surpass $60 billion in 2024 [49]

U.S. live commerce sales are forecast to reach $68.0 billion by 2026 [50]

44% of consumers say they are interested in attending a live shopping event [50]

34% of consumers bought apparel online at least once a month in 2023 [51]

48% of U.S. holiday shoppers planned to shop online on Cyber Monday in 2023 [52]

Adobe reported U.S. online Black Friday sales of $9.8 billion in 2023 [53]

Adobe reported U.S. online Cyber Monday sales of $12.4 billion in 2023 [54]

Apparel was among the top-growing online categories on Cyber Monday with discounts peaking at 23% in 2023 [54]

U.S. retail apparel sales were $351.9 billion in 2023 [55]

Global apparel market revenue is projected to reach $1.79 trillion in 2024 [56]

The U.S. apparel market generated approximately $358.7 billion in revenue in 2024 [57]

Global luxury apparel market revenue was estimated at $84.6 billion in 2024 [58]

The global fast fashion market was valued at $106.4 billion in 2022 [59]

The global secondhand apparel market is expected to reach $350 billion by 2028 [36]

Global online fashion market revenue is forecast to hit $781.5 billion in 2024 [37]

EU apparel consumption averaged 19 kilograms per person in 2020 [60]

The U.S. online apparel and accessories market is projected to reach $186.5 billion in 2024 [38]

China’s apparel market revenue is projected at $318.8 billion in 2024 [61]

India’s apparel market revenue is projected at $101.4 billion in 2024 [62]

The UK apparel market revenue is forecast at $84.2 billion in 2024 [63]

Germany’s apparel market revenue is projected to reach $75.8 billion in 2024 [64]

Japan’s apparel market revenue is projected at $87.4 billion in 2024 [65]

France’s apparel market revenue is expected to reach $49.6 billion in 2024 [66]

Italy’s apparel market revenue is projected at $39.3 billion in 2024 [67]

Spain’s apparel market revenue is projected at $30.6 billion in 2024 [68]

Brazil’s apparel market revenue is projected at $47.7 billion in 2024 [69]

Mexico’s apparel market revenue is forecast at $28.4 billion in 2024 [70]

Canada’s apparel market revenue is projected at $27.2 billion in 2024 [71]

Australia’s apparel market revenue is projected at $25.6 billion in 2024 [72]

South Korea’s apparel market revenue is projected at $39.7 billion in 2024 [73]

Indonesia’s apparel market revenue is projected at $24.5 billion in 2024 [74]

Turkey’s apparel market revenue is projected at $24.1 billion in 2024 [75]

The global footwear market revenue is projected to reach $457.1 billion in 2024 [76]

The global bags and accessories market revenue is projected at $174.7 billion in 2024 [77]

The global watches and jewelry market revenue is projected at $410.6 billion in 2024 [78]

The global sportswear market revenue is projected to reach $419.5 billion in 2024 [79]

The global children’s apparel market revenue is projected at $279.5 billion in 2024 [80]

The global women’s apparel market revenue is projected at $930.7 billion in 2024 [81]

The fashion industry was responsible for 2.1 billion tonnes of greenhouse-gas emissions in 2018 [21]

The fashion industry accounts for 4% of global greenhouse-gas emissions [21]

The textile industry uses 93 billion cubic meters of water annually [82]

The fashion industry is responsible for 20% of global wastewater [82]

A truckload of textiles is landfilled or incinerated every second [22]

Less than 1% of material used to produce clothing is recycled into new clothing [22]

Textiles generated 16 million tons of municipal solid waste in the U.S. in 2018 [83]

The U.S. textile recycling rate was 14.7% in 2018 [83]

Clothing production doubled between 2000 and 2015 [84]

Europeans consume nearly 26 kilograms of textiles and discard about 11 kilograms each per year [84]

Synthetic textiles are the source of 35% of primary microplastics released into the environment [84]

Washing synthetic products accounts for 500,000 tons of microplastics released into the ocean annually [84]

The equivalent of 50 billion plastic bottles is released into the ocean each year from synthetic textiles [82]

Textile dyeing uses around 43 million tonnes of chemicals every year [85]

Cotton occupies 2.5% of the world’s arable land but uses 16% of all insecticides [86]

It takes about 2,700 liters of water to make one cotton shirt [87]

It takes about 7,500 liters of water to make one pair of jeans [87]

99% of brands and retailers are not on track to meet their own decarbonization targets [88]

Only 18% of fashion companies are on track to halve emissions by 2030 [88]

Scope 3 emissions account for about 96% of total emissions for apparel and footwear companies [89]

Textile production generated 270 kilograms of CO2 emissions per person in the EU in 2020 [60]

Textile consumption in the EU required 9 cubic meters of water per person in 2020 [60]

Textile consumption in the EU used 400 square meters of land per person in 2020 [60]

Textile consumption in the EU required 391 kilograms of raw materials per person in 2020 [60]

Returns create 24 million metric tons of CO2 emissions annually in the U.S. [90]

Returned goods in the U.S. send 9.5 billion pounds of waste to landfill each year [90]

30% of clothes in the average wardrobe have not been worn for at least a year [91]

Extending the active life of clothes by just 9 months can reduce carbon, water, and waste footprints by around 20-30% each [92]

Fashion accounts for 8-10% of global carbon emissions [93]

The U.S. imported $79.3 billion of apparel in 2023 [94]

The U.S. imported $23.0 billion of apparel from China in 2023 [94]

The U.S. imported $14.9 billion of apparel from Vietnam in 2023 [94]

The U.S. imported $4.7 billion of apparel from Bangladesh in 2023 [94]

The U.S. imported $4.2 billion of apparel from India in 2023 [94]

U.S. apparel store sales totaled $26.1 billion in December 2023 [95]

U.S. clothing and clothing accessories store sales totaled $301.5 billion in 2023 [96]

U.S. clothing and clothing accessories stores employed about 1.37 million people in May 2023 [97]

Median hourly wage in U.S. clothing, clothing accessories, shoe, and jewelry retailers was $15.38 in May 2023 [97]

There were 88,930 U.S. establishments in clothing, clothing accessories, shoe, and jewelry retail in Q1 2024 [98]

U.S. consumer prices for apparel increased 0.3% over the 12 months ending March 2024 [99]

U.S. import prices for apparel fell 0.4% in 2023 [100]

Producer prices for U.S. apparel manufacturing increased 1.3% in 2023 [101]

Apparel and accessories accounted for 3% of U.S. holiday spending plans in 2023 [52]

61% of consumers planned to participate in promotional events in the 2023 holiday season [52]

Average planned holiday spending on clothing and accessories was $229 in 2023 [102]

40% of consumers expected apparel prices to increase in 2024 [33]

Average U.S. tariff rate on clothing is 11.4% [103]

Average U.S. tariff rate on footwear is 11.9% [103]

Bangladesh apparel exports reached $47.39 billion in FY2022-23 [104]

Vietnam textile and garment exports reached $40.3 billion in 2023 [105]

China’s textile and apparel exports totaled $293.6 billion in 2023 [106]

The global apparel supply chain workforce employs about 75 million people [107]

Women make up around 80% of garment workers worldwide [108]

The garment industry contributed about 11% of Bangladesh’s GDP in 2023 [109]

Apparel importers faced average U.S. duties 7 times higher than on other imported goods [110]

80% of U.S. fashion executives planned to diversify sourcing in 2024 [111]

65% of U.S. fashion companies ranked inflation and recession risk among top 5 business challenges in 2024 [111]

55% of U.S. fashion companies said speed-to-market is a top sourcing challenge in 2024 [111]

41% of U.S. fashion companies expected to increase sourcing from Vietnam in 2024 [111]

34% of U.S. fashion companies expected to decrease sourcing from China in 2024 [111]