Clothing and footwear are two major product sectors in Mexico accounting for 4.3% and 2.1% of the total retail sales in 2014 respectively. A multitude of factors are contributing to the healthy growth of both clothing and footwear market in the country. Improving economic performance, increasing fashion consciousness, increasing disposable income, and the launch of several foreign brands, are driving the sales in Mexico. The increase availability of both clothing and footwear online coupled with rising women participation in labor force is set to drive the robust growth in sales over the next five years.
Key Findings
– Clothing, footwear, accessories, and luxury goods specialists command the major share, accounting for 65.1% and 65.5% of total sales in the clothing and footwear sector respectively
– The rising participation of women in labor force and their desire for a better life will favor retail growth
– Clothing and footwear are expected to be the fastest growing segments with CAGRs of 8.1% and 8.0% over 2014-2019 respectively
– Clothing sales through the online channel are expected to grow at a CAGR of 30% during 2014-2019, to reach MXN14.2 billion in spending, from MXN3.8 billion in 2014
