Business / news
US, China and EU Dominate Global Fashion, but Budget Shares Diverge Sharply
The world's three largest fashion markets allocate very different slices of household spending to clothing and footwear, with China at 5.3%, the European Union at 4.1% and the United States at just 2.5%.
Chinese consumers devoted the largest share of their annual budgets to apparel and footwear of the three leading regions. Average spending in 2024 reached 1,554 yuan, or roughly $200 per person, equal to 5.3% of yearly outlays, according to the National Bureau of Statistics of China.
Across the European Union, the comparable figure was 4.1% in 2024. Apparel accounted for 3.3% of total consumer spending and footwear for 0.8%, based on Eurostat data.
The United States recorded the smallest share, at 2.5% in 2024. That measurement, compiled by the U.S. Bureau of Labor Statistics, combines spending on fashion with related services.
The gap is notable because the three regions differ widely in wealth. U.S. gross domestic product per capita stands at $90,026, the highest of the group, according to World Bank data. The European Union follows at $47,089, while China sits at $13,862.
China, the market with the lowest GDP per capita among the three, is therefore where households make the greatest relative effort to buy clothing and footwear, even as the United States, the most advanced economy, gives fashion the smallest weight in consumer budgets.