According to a survey conducted in five European countries in 2023, a similar share of consumers across all product categories purchased fashion from a lower-priced brand as a 'trade-down' action to save money.
Share of consumers who purchased fashion items from a lower-priced brand to save money in selected European countries in 2023, by category
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McKinsey & Company. (July 14, 2023). Share of consumers who purchased fashion items from a lower-priced brand to save money in selected European countries in 2023, by category [Graph]. In Statista. Retrieved December 31, 2024, from https://www.statista.com/statistics/1417763/european-consumers-shopped-fashion-from-a-lower-priced-brand/
McKinsey & Company. "Share of consumers who purchased fashion items from a lower-priced brand to save money in selected European countries in 2023, by category." Chart. July 14, 2023. Statista. Accessed December 31, 2024. https://www.statista.com/statistics/1417763/european-consumers-shopped-fashion-from-a-lower-priced-brand/
McKinsey & Company. (2023). Share of consumers who purchased fashion items from a lower-priced brand to save money in selected European countries in 2023, by category. Statista. Statista Inc.. Accessed: December 31, 2024. https://www.statista.com/statistics/1417763/european-consumers-shopped-fashion-from-a-lower-priced-brand/
McKinsey & Company. "Share of Consumers Who Purchased Fashion Items from a Lower-priced Brand to save Money in Selected European Countries in 2023, by Category." Statista, Statista Inc., 14 Jul 2023, https://www.statista.com/statistics/1417763/european-consumers-shopped-fashion-from-a-lower-priced-brand/
McKinsey & Company, Share of consumers who purchased fashion items from a lower-priced brand to save money in selected European countries in 2023, by category Statista, https://www.statista.com/statistics/1417763/european-consumers-shopped-fashion-from-a-lower-priced-brand/ (last visited December 31, 2024)
Share of consumers who purchased fashion items from a lower-priced brand to save money in selected European countries in 2023, by category [Graph], McKinsey & Company, July 14, 2023. [Online]. Available: https://www.statista.com/statistics/1417763/european-consumers-shopped-fashion-from-a-lower-priced-brand/
