Annual revenue of clothing retail Australia 2014-2023

The annual revenue of the clothing retail industry in Australia amounted to over 23.9 billion Australian dollars in 2023, marking a slight rise from the previous year. In 2020, the industry’s revenue dropped by over one billion Australian dollars, after increasing steadily between 2014 and 2019.

Clothing retail industry in Australia

In financial year 2023, New South Wales and Victoria were Australia’s leading states in terms of the number of operating clothing retailing businesses. In 2023, trends showed that Australian consumers were increasingly purchasing items online, with fashion retail accounting for over ten percent of online spending in Australia.

Australian shopping trends

In recent years, Australian shoppers have become increasingly sustainability conscious, as people across the globe strive to reduce their clothing waste and turn away from fast fashion. More and more Australian consumers are acknowledging the benefits of trading items in the second-hand circular economy, as well as purchasing clothing created from ethically sourced materials, even if it means paying more.

Gen Z and Millennials are the driving force behind environmentally conscious consumption in Australia, with Millennials accounting for the largest share of the population who consider the environmental effects of buying new and throwing out items. Nonetheless, the quality, appearance, and style of apparel remain important factors in Australian consumers’ clothing choices.