Where did European consumers spend after the epidemic?

According to data from the EU Statistical Bureau, each of the EU residents in 2021 spending 662 euros in fashion products each year, while the number in 2019 is 751 euros. The epidemic changes their consumption methods. In addition to fashion categories, European consumers have also reduced expenditures in other non -essential categories such as leisure or restaurants, and decreased by 9% and 32.6% compared with 2019. On the other hand, Europeans have added other categories of expenditure, such as health, an increase of 10.4%compared with 2019; and increasing expenditures in the education industry. The expenditure increased by 9.2%compared with the previous year.

The proportion of fashion in European residents also declined: In 2019, EU residents used 3.6% of the budget to buy fashion, and by 2021, this ratio has dropped to 3.2%. With fashion, the proportion of culture in European consumers has also declined, from 8% in 2019 to 7.1% in 2021.

According to the country, Greece, Austria, and Portugal are countries with the largest number of fashion expenses in 2021, which decreased by 20.1%, 16.7%, and 16.9%, respectively. On the other hand, the market with the largest number of residents in terms of fashion is Albania and Serbia, with an increase of 12.8% and 10.05%, respectively. The European countries that spend the most in fashion are Luxembourg, Norway, and Denmark, with more than 1,000 euros each year; in Bulgaria, North Malaysia, and Persia, Herzegovina, the per capita expenditure in fashion is less than 200 euros per year.


Post time: Jun-29-2022