PUBLISHER: GlobalData | PRODUCT CODE: 1923697
PUBLISHER: GlobalData | PRODUCT CODE: 1923697
This report includes analysis, market forecasts, brands, consumer attitudes and trends in the Apparel Market in the US to 2029 with the impact of recent events
US real GDP grew 2.8% in 2024 but is expected to slow to 1.8% in 2025 as tighter financial conditions and tariffs raise costs for apparel retailers. Inflation is set to ease from 2.9% in 2024 to 2.3% by 2029, offering some relief, but shoppers will continue to prioritize essentials. Demographic headwinds add further pressure, with the share of over-65s rising from 18.3% in 2024 to 20.3% in 2029, while unemployment edging up to 4.2% in 2025 may also temper discretionary demand.