GfK Consumer Panel Fashion

Households cut fashion spending significantly in October

In October, consumers held back on fashion shopping. This is shown by the results of the GfK Consumer Panel Fashion, which records the fashion spending of around 14,500 people in 7,000 households.

This text was originally published in German and machine-translated into English.

Consumers indicate which garments they have bought in which shops (online and stationary) and at what price. According to the study, household spending on clothing and footwear fell by 6.4% last month compared with the previous year. With a plus of 3.7%, the submission from the previous year was quite high, but expenditure is still below the level of 2017. Stationary and online retailers have lost out.

While the accrued twelve-month revenue at the end of September had still been plus 11.1%, it was at 9.6% at the end of October - a decline of 1.5 percentage points.

The strong decline in October also marks the end of the fast-growing phase of recent months. Since May, fashion spending has been higher month after month than in the previous year, and rolling annual sales for the past twelve months have also developed so positively. Accumulated by the end of October, expenditure for the past twelve months is now only 0.6% up on the same period last year. At the end of September it had been 1.6%.

Fewer shopping trips

One reason for the sharp fall in spending in October was certainly the change in consumer purchasing behaviour. As a result, consumers made significantly fewer purchases than in the previous year. The number of fashion shopping trips fell by 11.8% compared to the previous year. Although consumers also spent more per shopping trip in October than in the previous year (plus 6%), this could not compensate for the negative development of shopping trips.