Consumer spending on clothing in the United Kingdom (UK) from 2005 to 2022 has continually increased year after year, with the exception of 2020, as a result of the coronavirus (COVID-19) pandemic. In 2022, spending on clothing reached an all-time high at approximately 62.2 billion British pounds.
Clothing and footwear share in total expenditure
In 2021, around five percent of British households’ total expenditure went into clothing and footwear. Generally, as total domestic expenditure has increased, so has spending on clothing and footwear. The share of 5 percent has remained fairly consistent over the past years.
UK as a clothing exporter
As of 2021, the UK is the eighth largest exporter of clothing in terms of export share. The UK has a clothing export share of approximately 1.9 percent, ahead of Indonesia by 0.2 percent. The large majority of the UK’s clothing exports go to neighboring European countries, but clothing worth approximately 796 million British pounds was exported to the Asia and Oceania areas in 2021.
FAQs
Average annual expenditures grew by 9.0 percent to $72,967 in 2022, up over $6,000 from 2021 and up almost $10,000 (15.7 percent) from 2019.
How much money was spent on clothes in 2022? ›
How apparel and services spending has changed over time
| Year | Average spending on apparel and services | Average annual expenditures |
|---|
| 2019 | $1,883 | $63,036 |
| 2020 | $1,434 | $61,334 |
| 2021 | $1,754 | $66,928 |
| 2022 | $1,945 | $72,967 |
6 more rowsJun 3, 2024
The average person spends around $161 per month on clothes – women spend nearly 76% more than men do on clothing in a year. The average family of four spends around $1800 per year on clothes, with $388 of this on shoes.
Does 36% of Gen Z buy new clothing at least monthly? ›
36% of Gen Z buys new clothing at least monthly. In an average person's closet there are about 148 individual items. At $1,460, per capita spending on clothing and footwear in the USA is the highest in the world. By comparison, in Brazil, a person spends an average of around $100 per year.
Is consumer spending up or down? ›
Nominal retail sales edged up by 0.1 percent in May following a 0.2 percent decline in April. Real retail sales (i.e., sales adjusted for inflation) also rose by 0.1 percent in May after a dramatic 0.5 percent decline in April.
What do the majority of consumers spend money on? ›
Answer. Answer: The majority of consumers spend money on everyday essentials such as groceries, utilities, and transportation.
How big is the clothing market in 2022? ›
The revenue of the apparel market in the United States was valued at approximately 312 billion U.S. dollars as of 2022, with leading retailers such as TJX and Macy's each bringing in over 20 billion U.S. dollars in sales.
Which generation spends the most on clothes? ›
46% of Gen Z spent more on fashion than anything else in 2022 (5WPR) Gen Z was the only generation to have clothing and fashion as their top spending category. 30% of Gen Z spent more on beauty and personal care than anything else, far more than any other generation.
Which age group buys the most clothes? ›
At least 82 percent of shoppers worldwide between 26 and 35 years old had purchased fashion online in the previous 12 months, according to an August 2022 survey. This was the age range showing the highest fashion e-commerce usage rate.
Are people spending less on clothes? ›
Among the hardest-hit categories by inflation-fueled spending cuts, clothing came in as the No. 1 nonessential category where consumers have cut back, with 63% reporting buying less since the beginning of 2023.
In the United States, households spend an average of about $120 per month on clothes. That comes out to $1,434 per year.
Are Americans buying more clothes? ›
Americans are buying more clothes today than ever before. On average, we buy 53 new items of clothing per year — four times as much as in the year 2000. Most people don't need more clothes today than they did two decades ago, so what's driving this rise in consumption? The answer, in short, is fast fashion.
Are Gen Z financially savvy? ›
For example, a new study by the Investment Company Institute (ICI) finds that “Gen Z households have nearly three times more assets in the [retirement] plan accounts (adjusted for inflation) that Gen X households did at the same age.” More Gen Z-ers have retirement plans set up and they've saved more in those accounts.
What do millennials value in clothing? ›
Durable, Long-Lasting Fashion
Practical, durable clothing is in vogue. And millennials are clearly the ones driving this trend. They want to shop from brands that sell clothing that is long-lasting and has a purpose.
Does Gen Z wear bras? ›
As a result, wearing a bra is no longer as natural as it was in the early 2000s: many Gen-Zers now even do without one altogether.
What is the current rate of consumer spending? ›
US Personal Consumption Expenditures is at 68.31%, compared to 68.01% last month and 68.18% last year. This is higher than the long term average of 64.31%.
What is the consumer rate for 2022? ›
The Consumer Prices Index (CPI) rose by 2.3% in the 12 months to April 2024, down from 3.2% in the 12 months to March, and well below its recent peak of 11.1% in October 2022.
What is the consumption expenditure in 2022? ›
Average estimated MPCE in 2022-23 has been Rs. 3,773 in rural India and Rs. 6,459 in urban India. The share of food and non-food items in total MPCE is shown below in Statement 1.
What is the US consumer spending year by year? ›
U.S. consumer spending for 2022 was $17,511.75B, a 9.16% increase from 2021. U.S. consumer spending for 2021 was $16,042.96B, a 12.93% increase from 2020. U.S. consumer spending for 2020 was $14,206.23B, a 1.47% decline from 2019. U.S. consumer spending for 2019 was $14,417.61B, a 3.47% increase from 2018.
