Having plunged by more than a quarter during 2020, retail volume sales of designer apparel and footwear (ready-to-wear) saw no more than a modest recovery in 2021. International tourists are a major source of demand for designer apparel and footwear (ready-to-wear) in Spain, so travel restrictions due to the pandemic – in addition to a reluctance to travel due to the risk of contagion – weighed heavily on demand.
Demand for designer apparel and footwear (ready-to-wear) from local consumers also declined significantly during 2020. This was due to the economic shock of the pandemic, a reduction in socialising (particularly events like weddings, first communions and baptisms) and the fact that non-essential retail outlets were closed for an extended period.
Even before the onset of the pandemic, demand for designer apparel and footwear (ready-to-wear) was being negatively affected by a shift towards experiential consumption among local consumers. They were also increasingly favouring luxury personal accessories over designer apparel and footwear because the former tend to have a longer lifespan.
The recovery in demand for designer apparel and footwear (ready to wear) will gather pace during 2022, with its rate of retail current value sales growth set to remain robust for most of the rest of the forecast period. In constant value terms, retail value sales of designer apparel and footwear (ready to wear) are set to exceed their pre-pandemic (2019) peak by 2024.
However, demand for designer apparel and footwear (ready to wear) among local consumers is set to remain relatively weak, particularly during the early part of the forecast period. Spain’s post-pandemic economic rebound will be relatively subdued, with an elevated unemployment rate remaining a major source of weakness.
Local consumers, particularly younger ones, are becoming more interested in sustainability, and this will increasingly affect designer apparel and footwear (ready to wear) over the course of the forecast period. Luxury brands that embrace sustainability are likely to perform well in this environment.
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Designer Apparel and Footwear (Ready-to-Wear)
This is the aggregation of designer apparel and designer footwear.
See All of Our DefinitionsThis report originates from Passport, our Designer Apparel and Footwear (Ready-to-Wear) research and analysis database.
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