Population decline and high prices are reducing imports of new clothing, but the market for "Gab" is growing

2023-10-02 09:10:31Biznes SHKRUAR NGA REDAKSIA VOX

Imports of clothing and textiles in quantity fell in all categories during the 8th month of 2023, reflecting lower consumer demand for these products. According to INSTAT data in January-August, shoe imports in quantity suffered an annual decrease of 19%. The import of various fabrics and upholstery suffered a similar contraction. Clothing and complementary clothes decreased by 10%. In contrast, used clothes increased by about 3.4%.

Data from the market claim that the retail trade of clothing has suffered a decline mainly due to the decrease in the population of the country's residents, especially young people. Young people are big consumers of clothing and shoes. The elderly have more reduced clothing needs and do not consume the volumes of other age groups of the population.

Another reason is related to the decline in purchasing power for clothing. Food prices have risen at double-digit rates since the war in Ukraine, causing the monthly spending basket to lean more towards food than clothing.

Population decline and high prices are reducing imports of new clothing, but the

Minority traders claim in the last year that the demand has dropped significantly and specifically since the increase in food prices started. As with other goods, clothing prices have been higher as the wave of costs has included this sector as well.

In contrast, used clothing is the only group that recorded growth. Used clothes is registering growth year after year, a trend that has continued even in 2023. This shows that more and more categories of consumers are moving into this rapidly expanding segment.

Climate change is playing a role. The warm winter contributed to a drop in footwear sales across the globe last year, increasing warehouse stocks this year.

Winter clothing also had a tough season last year. Abnormal seasons are also negatively affecting the fashion industry and related businesses, from production to sales.

This year, the shoe production factories in our country have reduced the quantities due to the fact that the warm weather has reduced the demand for shoes in Europe./ Monitor