Apparel and footwear in 2024: The big picture
Apparel and footwear in Mexico is set to experience a slowdown in retail current value growth in 2024 compared with the previous year, when the industry enjoyed almost a double-digit increase, particularly driven by footwear. However, in 2024 growth in consumer spending has tended to be more limited, as shoppers have prioritised purchases and sought convenience.
2024 key trends
Amongst the trends shaping apparel and footwear, sustainability remains a significant concern for consumers, especially regarding fast fashion. The influx of inexpensive clothing from Asia has raised awareness of the ecological impact of fast fashion, prompting interest in second-hand clothing and digital resale platforms.
Competitive landscape
In global brand owner terms, Inditex, Industria de Diseño Textil is expected to maintain its leadership and continue to gain value share in apparel and footwear in Mexico in 2024. The company reached record highs in 2023 in both revenue and profits, achieving unprecedented market capitalisation and widening its margins well above its competitors.
Retailing developments
Given tighter consumer spending in the country, shopping occasions that include discounts have become key opportunities to drive sales. According to the study PULSO: Moda en Venta Online + Expectations for Hot Fashion 2024, in Mexico, six out of 10 digital buyers purchased fashion products throughout the year.
What next for apparel and footwear?
Slow and stable retail volume growth rates and slightly higher retail current value growth rates are expected for apparel and footwear in Mexico throughout the forecast period. However, Banxico’s forecast of GDP growth of 1.
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Overview:
Understand the latest market trends and future growth opportunities for the Apparel and Footwear industry in Mexico with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
- Childrenswear
- Apparel and Accessories
- Menswear
- Womenswear
- Jeans
- Hosiery
- Footwear
- Sportswear
If you're in the Apparel and Footwear industry in Mexico, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Apparel and Footwear in Mexico report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Apparel and Footwear in Mexico?
- Which are the leading brands in Mexico?
- How are products distributed in Mexico?
- How is the rise of e-commerce shaping demand?
- What % of apparel and footwear sales are made via grocery retailers?
- Do consumers want premium quality or fast fashion?
- How will COVID-19 and recession impact demand?
- How important is sustainability in Apparel and Footwear in Mexico?
- Where is future growth expected to be most dynamic?
Apparel and Footwear in Mexico
Apparel and footwear in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for apparel and footwear?
DISCLAIMER
Childrenswear in Mexico
KEY DATA FINDINGS
Consumer priorities impact sales of childrenswear
From big brands to local boutique styles for children
Baby Creysi retains its leadership in childrenswear in the Mexican market
The declining birth rate in Mexico will keep affecting childrenswear
The power of “mom influencers” in brand engagement
The shift towards casualwear in educational institutions
Apparel Accessories in Mexico
KEY DATA FINDINGS
Apparel accessories add value in a low consumption environment
Shein uses AI to follow Mexican trends and develop products accordingly
Winter favours demand for apparel accessories in Mexico
The growing appeal of second-hand accessories
The growing popularity of sports headwear in Mexico
Ties lose relevance due to casualisation
Menswear in Mexico
KEY DATA FINDINGS
Price sensitivity slows growth in menswear in Mexico
H&M maintains its share in Mexico despite challenges
C&A announces new store openings and registers a strong 2024 sales performance
Sustainable fashion likely to continue to rise in menswear
The growing demand for streetwear in Mexico
Tradition meets modernity in menswear in Mexico
Womenswear in Mexico
KEY DATA FINDINGS
Womenswear faces a slowdown in growth in 2024
Shein’s rise sparks a rise in undervalued apparel imports in Mexico
Inditex strengthens its lead in womenswear
Discount opportunities set to drive online sales of womenswear
Mother’s Day in Mexico drives sales of womenswear
The rise of second-hand apparel shopping amongst Mexican women
Jeans in Mexico
KEY DATA FINDINGS
Jeans faces a continued slowdown in value growth
Economy and standard options take the lead in growth in jeans
Levi Strauss & Co faces share challenges in Mexico amidst global struggles
Jeans expected to return to stronger growth as Mexican consumer spending rebounds
Sustainability: A key branding tool, but not a decisive factor for buyers
Fashion becomes key driver of online sales
Hosiery in Mexico
KEY DATA FINDINGS
Hosiery shows a slowdown, aligned to economic problems
Top players keep losing share
Informal market challenges established hosiery brands
Mexican market flooded with Chinese non-sheer hosiery
The enduring appeal of physical stores for purchases of hosiery
The growing popularity of sports socks
Footwear in Mexico
KEY DATA FINDINGS
Inflation and competition from Asian brands impact footwear
Mexican footwear industry demands action against Chinese import dumping
Loss of Timberland contract leads to major closure for Flexi in Guanajuato
Revolutionising footwear: The impact of AI on design and customisation
The skate aesthetic’s fashion renaissance
Brands are paving the way for sustainable footwear
Sportswear in Mexico
KEY DATA FINDINGS
Resilience of sportswear brands amidst slower growth
Nike expands its cultural footprint in Mexico with a new flagship store
adidas extends its commitment to the Mexican national football team
The premiumisation trend in sportswear in Mexico
Reebok aims to triple its share in Mexico by 2026
Artificial Intelligence: Shaping the future of sportswear
The following categories and subcategories are included:
Apparel and Footwear
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- Baby and Toddler Wear
- Boys' Apparel
- Girls' Apparel
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- Belts
- Gloves
- Hats/Caps
- Scarves
- Ties
- Other Apparel Accessories
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- Men's Nightwear
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- Economy Men's Jeans
- Standard Men's Jeans
- Premium Men's Jeans
- Super Premium Men's Jeans
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- Men's Jackets and Coats
- Men's Jumpers
- Men's Shirts
- Men's Shorts and Trousers
- Men's Suits
- Men's Tops
- Other Men's Outerwear
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- Men's Swimwear
- Men's Underwear
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- Women's Nightwear
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- Economy Women's Jeans
- Standard Women's Jeans
- Premium Women's Jeans
- Super Premium Women's Jeans
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- Women's Dresses
- Women's Jackets and Coats
- Women's Jumpers
- Women's Leggings
- Women's Shirts and Blouses
- Women's Shorts and Trousers
- Women's Skirts
- Women's Suits
- Women's Tops
- Other Women's Outerwear
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- Women's Swimwear
- Women's Underwear
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- Nightwear
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- Economy Jeans
- Standard Jeans
- Premium Jeans
- Super Premium Jeans
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- Dresses
- Jackets and Coats
- Jumpers
- Leggings
- Shirts and Blouses
- Shorts and Trousers
- Skirts
- Suits
- Tops
- Other Outerwear
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- Swimwear
- Underwear
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- Sheer Hosiery
- Non-Sheer Hosiery
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- Children's Footwear
- Men's Footwear
- Women's Footwear
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- Performance Apparel
- Outdoor Apparel
- Sports-inspired Apparel
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- Performance Footwear
- Outdoor Footwear
- Sports-inspired Footwear
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Apparel and Footwear
Apparel is the aggregation of clothing and footwear. This dataset covers retail sales of apparel through both store-based retailers and non-store retailers. Excludes black market sales (i.e. untaxed, generated within informal retailing)and duty free sales (travel retail). Items must be new when sold to the consumer; second-hand/used items are excluded. Antique and/or vintage clothing and footwear is also excluded.
See all of our definitionsWhy buy this report?
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- Track key industry trends, opportunities and threats
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This report originates from Passport, our Apparel and Footwear research and analysis database.
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