Fashion Faces Fashionably Fading Footfall as Consumers Seek Real Value
The fashion industry experienced a challenging 2025, with Gildas Minvielle, director of the Institute's economic observatory, acknowledging that his initial optimism for the year was unfounded. Speaking at the Fashion Reboot event on November 27, Minvielle reported a 1% decrease in overall clothing and textile consumption for 2025. Looking ahead to 2026, projections present a mixed outlook: an optimistic scenario forecasts a modest +1% growth, a pessimistic scenario predicts a significant -2% contraction, while the median scenario suggests a continued decline of -0.5%.
Analyzing the first nine months of 2025 reveals specific performance trends across various categories. Womenswear demonstrated relative resilience, experiencing only a slight dip of 0.2%. In contrast, menswear, which had shown strong performance in previous years, saw a notable decline of 1.9%. Childrenswear also contracted by 0.9%, and lingerie sales were down by 0.7%. The steepest decline was observed in home textiles, which fell by a substantial 5.6% during this period.
When examining distribution channels, Minvielle highlighted that "the momentum is with department stores and value retailers." Despite an overall 1.3% decline across the IFM retailer panel for the first nine months of the year, this specific segment actually posted a 1.4% increase. Mass-market chains also registered positive growth, up by 0.4%. However, independent retailers faced significant headwinds, experiencing a 2.4% decline compared to the same period in 2024.
Beneath the 1.3% overall retail decline, underlying operational challenges are evident. A striking 53% of retail brands reported a decrease in footfall this year, indicating a persistent problem with attracting shoppers into stores. This contributed to an average decline in sales volumes of 1.6%, a sharper drop than the 0.4% recorded in the previous year. Only 30% of respondents reported an increase in volumes sold, while nearly a third indicated a decline of between 0% and 5%. Furthermore, only 18% of retailers saw an increase in their conversion rate, contrasting sharply with 41% who reported a decline, and 47% noted a fall in average basket value. Interestingly, 18% of shoppers did purchase products at higher price points in 2025, suggesting a bifurcated market.
Regarding pricing, the survey results indicate an average price increase of 1.5% for 2025, even though most respondents reported stable or falling prices, according to a presented chart. The outlook from distributors suggests a more modest price trend of +0.7% for 2026, signalling that while inflation is largely subsiding, it hasn't entirely disappeared. However, Minvielle emphasized that significant disparities exist across different price points. Aggressive pricing in the entry-level segment, with items averaging around €9—roughly one-third the price of a mid-range item in the same category—continues to distort consumers' perception of garment value. Despite this, 62% of consumers did not purchase ultra-fast fashion in 2025, providing a potential silver lining amidst the pricing complexities.
The foremost challenge for the industry moving forward is to re-engage consumers, many of whom harbor deep distrust towards fashion as the distinction between price and value becomes increasingly blurred. Minvielle cautioned against a "race to the bottom" in pricing, which could ultimately impoverish brands. He urged labels to prioritize re-injecting tangible value into their offerings to win back consumers whose purchasing power has been weakened, emphasizing that a focus on inherent value, rather than just low prices, will be crucial for sustainable growth.
