A Pimkie store. (Illustration) – Yann Bohac / SIPA
After a very complicated year for the clothing sector in France, the next does not look brighter. The economic observatory of the French Institute of Fashion (IFM) predicts that the decline in fashion sales will continue in 2019, was learned this Thursday during the conference day on "International Perspectives of the fashion and textile in 2019 ".
At the end of December, director of the observatory, the French textile and clothing sector "should post a decline of 2.9%", according to Gildas Minvielle, director of the Observatory. This drop could be even stronger if the "yellow vests" continue their actions during Christmas, reports Le Monde.
"The demand is no longer at the rendezvous"
The social movement is a new blow for the market, after many store closures and cuts in the workforce in 2017. And the future seems blocked as well: the IFM expects a decline of 0.9% in 2019. This decline has been in operation for about ten years. It would be both "structural" and "societal", according to the specialists of the Institute. "The demand is no longer at the rendezvous," said Gildas Minvielle.
Some consumers mention budget reasons. But 40% say they have deliberately spent less to "buy better" in 2017, by "ethical concern", "ecological" activism or pure pragmatism. The fashion sector will have to redouble inventiveness to reverse the trend.