Apparel is a valuable and voluminous market in Europe, with Germany and the United Kingdom sitting at the top. In the past ten years, market leader Germany’s textile and clothing retail generated ever-increasing revenue figures. Yet, as seen in this statistic, by 2022 apparel market in the UK is anticipated to expand, whereas Germany is forecast to slow down.
Runner-up promises growth
Together with footwear, the UK’s apparel market signals promising times ahead. Currently, the market sees fierce competition among established retailers, and e-commerce sales are worth mentioning as a game changer in this picture.
Russia’s comeback
In the European apparel market, Russia emerges as a major force with a bright outlook for 2022. The 2014 economic crisis had taken a toll on the country’s retail turnover volume, but since then the industry got back on track.