Key Insights
Essential data points from our research
The global apparel market is valued at approximately $1.5 trillion in 2024
The average American household spends $1,754 annually on apparel and related services
Online fashion sales account for 29% of total fashion retail in the U.S.
Fast fashion accounts for 10% of global clothing sales
Millennials spend an average of $2,000 per year on fashion
Gen Z consumers spend approximately $1,920 each year on fashion
The luxury fashion market is expected to reach $383 billion by 2030
Consumers in China spend over $305 billion annually on fashion
In 2024, e-commerce will account for 22% of global fashion sales
64% of U.S. consumers would pay more for sustainable fashion products
The average UK consumer spends £980 annually on clothing
Americans spend around $460 billion per year on fashion products
France's fashion spending accounts for over €36 billion yearly
Consumer Spending and Behavior
- The average American household spends $1,754 annually on apparel and related services
- Millennials spend an average of $2,000 per year on fashion
- Gen Z consumers spend approximately $1,920 each year on fashion
- Consumers in China spend over $305 billion annually on fashion
- The average UK consumer spends £980 annually on clothing
- Americans spend around $460 billion per year on fashion products
- France's fashion spending accounts for over €36 billion yearly
- In India, consumers spend approximately $110 billion annually on fashion
- The average fashion expenditure per person in Germany is €1,300 per year
- Women's fashion accounts for over 60% of total fashion spending globally
- Children's clothing represents 12% of global fashion expenditure
- 70% of consumers say price is the most important factor in fashion purchases
- 73% of shoppers are influenced by social media in fashion spending
- Personalized fashion recommendations increase consumer spending by 28%
- Digital fashion could account for 10% of consumer fashion spending by 2035
- Apparel and footwear combined make up 80% of total fashion spending
- Fashion spending in Japan totals around ¥15 trillion annually
- Rent-the-Runway members spend less on traditional apparel by 38%
- In Brazil, fashion accounts for 8.6% of total retail spending
- Fashion-related impulse purchases account for 52% of total apparel spending
- Men are 20% more likely to impulse buy fashion online than women
- 39% of fashion shoppers subscribe to at least one apparel box service
- The average fashion product return rate is 30%
- Europe accounts for 30% of global luxury fashion spending
- The average fashion e-commerce spending per user is $758 annually
- In the UAE, consumers spend $12.5 billion yearly on fashion
- Fashion shoppers spend 16% more when offered free shipping
- In Canada, households spend about CA$3,400 a year on fashion and footwear
- France is the world’s second-largest spender on luxury fashion per capita
- U.S. teenagers spend around $2,500 per year on fashion
- 80% of fashion shoppers say influencer marketing affects their purchases
- AI fashion stylists increase consumer spending by 17% on average
- Online reviews influence 84% of fashion purchasing decisions
- 7 in 10 Americans plan to spend less on fashion due to economic concerns
- Influencer-led fashion brands command 64% higher loyalty rates
- Virtual fashion try-ons increase likelihood to purchase by 22%
- Fashion returns cost US retailers over $100 billion annually
- Fashion spending via BNPL (Buy Now Pay Later) increased by 30% in 2023
- Middle-income consumers account for 50% of global fashion spending
- The average woman owns 103 pieces of clothing but only wears 30%
- In 2023, 44% of all fashion purchases were made during promotions
- Fashion spending via live shopping events accounts for over $10B annually in China
- Japan’s average fashion spend per capita is $989 annually
- 58% of global consumers are willing to spend more on fashion brands that advocate for social justice
- The average fashion buyer makes 67 purchases per year globally
Interpretation
In a world where Millennials outspend their parents on pants they'll soon return, teens treat fashion like an investment portfolio, and social media dictates more closet choices than personal taste, the $1.7 trillion global fashion industry proves that impulse, influence, and identity walk the runway hand-in-hand—even if most of the wardrobe stays in the closet.
E-commerce and Digital Trends
- Online fashion sales account for 29% of total fashion retail in the U.S.
- In 2024, e-commerce will account for 22% of global fashion sales
- In 2023, 41% of online fashion buyers made purchases via mobile apps
- TikTok Shop is responsible for 12% of all online fashion sales in the US
- 49% of fashion spending in Germany goes toward e-commerce
- Fashion ads see a 3x higher engagement rate on Instagram than on Facebook
- Fashion brands spend 20% of revenue on digital marketing
- 61% of fashion consumers prefer digital over physical shopping channels
Interpretation
In a world where style meets scroll, fashion is no longer just worn—it’s tapped, swiped, and algorithm-approved, as digital dominance reshapes closets and commerce alike.
Market Size and Growth
- The global apparel market is valued at approximately $1.5 trillion in 2024
- The luxury fashion market is expected to reach $383 billion by 2030
- As of 2023, fashion is the second-largest e-commerce sector globally
- Men’s fashion spending is growing at a 5.5% CAGR globally
- Secondhand fashion market will reach $350 billion globally by 2027
- Subscription-based fashion spending has grown by 25% year-over-year
- NFT fashion spending is projected to hit $4.5 billion by 2030
- Global footwear sales represent $410 billion of fashion spending
- Resale fashion channels grew by 32% in 2023
- Spain’s fashion industry makes up 2.8% of its GDP
- South Korea’s fashion market approaches ₩43 trillion annually
- The resale market in the UK will double in size by 2030
- Global fashion spending is expected to exceed $2 trillion by 2030
- African fashion retail shows a yearly growth of 15%
- Italy’s fashion industry generated over €91 billion in 2023
- Latin America's fashion e-commerce market is worth $31 billion
- South East Asia’s online fashion market grew 25% YoY in 2023
- The global fashion accessories market is expected to reach $321 billion in 2025
Interpretation
Fashion may be a fleeting trend, but with global spending strutting toward $2 trillion and even digital wardrobes fetching billions, it’s clear the world’s appetite for style is stitched into both our cultures and our economies.
Sustainability and Ethical Considerations
- 64% of U.S. consumers would pay more for sustainable fashion products
- 82% of fashion shoppers say sustainability influences their purchases
- 26% of fashion shoppers consider brand ethics before purchasing
- 69% of global Gen Z consumers say sustainability affects their fashion choices
Interpretation
While shoppers talk a big green game with 82% swayed by sustainability, only 26% check brand ethics, suggesting many prefer eco-chic vibes over eco-conscious vetting.
Trends and Industry Dynamics
- Fast fashion accounts for 10% of global clothing sales
- Fashion product average discounts in the U.S. were 30% in 2023
Interpretation
Fast fashion may only claim 10% of global clothing sales, but with U.S. discounts averaging 30% in 2023, it's clear the real price we’re paying is stitched into the planet, not the price tag.
