Industry revenue of »retail sale of clothing in specialised stores« in Belgium 2011-2023

The Belgian clothing industry is currently recovering from a bad phase that saw leading companies such as Charles Vögele shutting down its stores and MS Mode going bankrupt. Yet other companies including JBC, LolaLiza and C&A witnessed extended periods of falling revenues. Moreover, the total number of companies in the textile industry remained stagnant during 2017-2018.

Among other reasons, terrorist attacks which affected high street footfalls and changing consumer preferences, were the primary reasons for this slowdown. Therefore it is no surprise that revenues generated by retail sale of clothing in specialized stores in Belgium are expected to increase only at a marginal pace from 8.5 billion U.S. dollars in 2018 to 8.8 billion U.S. dollars in 2023.

E-commerce cannibalizing high street retail

The rapid increase in e-Commerce adoption not only in Belgium but in most countries globally, is one of the main factors restraining the growth of apparel retail in the country with as much as 57% of the population ordering clothes or sportswear online in 2017. The brick and mortar store, which has historically had a dominant position in the industry, now finds itself in a precarious position in which it needs to rethink its role in the entire customer journey.

Industry revenue of »retail sale of clothing in specialised stores« in Belgium from 2011 to 2023

Revenue in million U.S. Dollars
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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Belgium. The industry “retail sale of clothing in specialised stores“ has the code “G4771“.

Details on the methodology can be found here.

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