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Consumer Spending on Clothing and Footwear Down Again in May

Fashion is at a crossroads: continue with cutting-edge strategies developed to persevere during Covid or slide back into familiar (yet unprofitable) habits? Get the experts' perspective at our in-person Sourcing Summit, Oct. 19 at New York’s Cipriani 42nd Street.

Consumer spending on clothing and footwear fell for the third straight month in May, which the Bureau of Economic Analysis (BEA) said Friday was reflective of a $71.5 billion decrease in spending for all goods. Personal consumption expenditures (PCE) for clothing and footwear declined a seasonally adjusted 1 percent to $474.64 billion in May compared…

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