Market Insights Consumer Apparel Men's Apparel

Clothing Accessories & Other Clothes - Luxembourg

Luxembourg

In 2024, the revenue generated in the Clothing Accessories & Other Clothes market in Luxembourg amounts to US$40.13m.
It is projected that the market will experience an annual growth rate of 0.33% (CAGR 2024-2029).
When compared to other countries globally, in China generates the highest revenue in this segment, reaching US$14,110m in 2024.
In terms of per capita figures, in Luxembourg generates US$60.66 in revenue per person in 2024.
Looking ahead to 2029, the volume in the Clothing Accessories & Other Clothes market is expected to reach 1,788.0k pieces units.
However, there is a slight decrease in volume growth projected for 2025, with a rate of -0.6%.
On average, each person in Luxembourg is expected to contribute 2.8pieces units to the volume in the Clothing Accessories & Other Clothes market in 2024.
In Luxembourg, the market for high-end clothing accessories and other clothes has seen a surge in demand due to the country's affluent population and their penchant for luxury fashion.

Key regions: Malaysia, Europe, Germany, India, Indonesia

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Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on the consumer spending on clothing which comprises women, men, and children segments that are produced for private end customers for both offline retail (department stores, traditional specialist shops) and online retail (e-commerce, ordering by catalog).

Modeling approach / Market size:

Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use resources from the Statista platform, national statistics, industry research, market data from independent databases and third-party sources, historical developments, current trends, reported performance indicators from the key market players, and Statista interviews with market experts. Next we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, consumer price index and population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the exponential trend smoothing illustrates suited forecasting for the Apparel market with projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional Notes :

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.