Trading was difficult in 2020, with people staying at home as much as possible in order to avoid being infected with COVID-19. In 2021, with the virus still circulating, though society opened up, there was not as much socialising as usual, and a significant portion of the working population continued to work from home.
International brands in particular are setting up e-commerce infrastructure. For example, the Canadian shoe and accessories brand Aldo, which has two stores in Montevideo and another four in other cities, set up a local website in 2021 and offers both direct delivery and click and collect.
International brands continue to be interested in setting up in Uruguay. Recent entrants included H&M and Forever 21 and at the end of 2021, Victoria ‘s Secret also opened its first stores in Uruguay, a 300 square metre store in the prestigious Punta Carretas shopping centre in Montevideo, and with four more stores expected to open.
Apparel and footwear will register moderate constant value growth over the forecast period. With society fully opened up, consumers will again invest in clothes as they want to look good when going to work and socialising.
E-commerce received a fuel infection from the lockdowns in 2020 and while value growth was not as high in 2021, it was still substantial. This healthy growth will continue over the forecast period, as players reap the benefits from the online infrastructure they put in place during the lockdowns and consumers increasingly feel more confident about online shopping, due to improved logistics, generous return policies and secure payment options.
Apparel and footwear outlets located on the border with Argentina could potentially lose significant value share, as local consumers cross over the border to shop in Argentina, where price will potentially be significantly cheaper due to a weak Argentinian peso. Argentina’s informal rate currently has a dollar rate that is traded informally at almost double the official value, which makes retail prices very cheap for Uruguayans shopping in Argentina and at the time of writing these issues looked likely to continue.
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Understand the latest market trends and future growth opportunities for the Apparel and Footwear Specialists industry in Uruguay with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Apparel and footwear specialists are chained or independent retail outlets with a primary focus on selling one or more of the following categories: clothing, footwear, and/or fashion accessories (costume jewellery, sunglasses, belts, hats, gloves, handbags, scarves, etc.). Apparel specialists include specialty apparel like wedding dress shops. Example brands include Primark, TJ Maxx, and Zara. Sportswear retailers, such as Adidas and Nike, are excluded from this channel and are included in Sports Goods Stores; this is due to the companies considering themselves sports companies as opposed to apparel companies.
See All of Our DefinitionsThis report originates from Passport, our Apparel and Footwear Specialists research and analysis database.
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