A research report released by the French Fashion Institute shows that the financial crisis will affect the overall decline in European clothing sales in 2009.
The report predicts that affected by the financial crisis, Europeans’ clothing spending will continue to decline in 2009, and European clothing sales will overall decline by 2.5 percentage points from August 2008 to August 2009.
According to the report, Germany will be the country most severely affected, with garment consumption declining significantly by 4.9%; followed by Spain, France, and Italy, with declines of 2.8%, 2.5%, and 1.9% respectively.
Gilda Manvière, head of the Economic Observation Office of the French Fashion Institute, pointed out that the continuous spread of the financial crisis, coupled with the uncertainty of global economic development, has caused people’s purchasing power to drop significantly, and their requirements for clothing’s cost-effectiveness will become increasingly high. strict.
