“There, we are served!” » At the dawn of the spring-summer 2024 sales, Wednesday June 26, professionals in the clothing sector do not hide their discouragement. Since the start of the year, clothing sales in France have fallen by 2%, according to the index compiled at the end of May by the French Fashion Institute (IFM). In the month of May alone, the turnover recorded by distributors plunged by 6% on average, according to the IFM. “Sales fell by 6.9% in clothing and by 11% in the shoe trade sector”adds Emmanuel Le Roch, president of the Federation for the Promotion of Specialized Trade, based on the figures established for part of the specialized distribution operating in France.
The autumn weather, which has affected a large part of France since March, has hurt sales of summer clothing, observes Gildas Minvielle, director of the IFM economic observatory. And French consumption always evolves against an inflationary backdrop, recalls the latter. Because, despite a stabilization of the price increase at 2.2% in France in May, according to INSEE, consumers continue to choose their budgets. And always to the detriment of clothing, an expense item considered secondary in many French households.
“Constrained by food inflation”households have “rationalized” their purchases, estimates Hélène Janicaud, director of studies at Kantar. The clothing items that paid the price were socks and underwear (–5.1% in volume) and T-shirts (–6.5%), according to Kantar. “All distribution networks suffered, in 2023, from a drop in purchasing volumes, of around 2.6%”adds Mme Janicaud. And this trend – unheard of in fifteen years – continued over the first six months of 2024.
A political context that does not help
So, this Wednesday, June 26, clothing stores are overflowing with stocks of clothes to be sold as quickly as possible. Will the French take advantage of the -50% to -70% granted during this period to renew their summer wardrobe? It is uncertain. A survey conducted by OpinionWay among 1,060 people, on June 12 and 13, on behalf of Mollie, a payment service provider, reveals that 59% of French people do not plan to “do the sales” This year. Around 20% of them give it up due to lack of ” financial resources “.
And from now on, the economic situation is no longer the only vector of uncertainty within brand management. Because the political context since the dissolution of the National Assembly pronounced by the President of the Republic, Emmanuel Macron, on June 9, following the European elections, could seize up the sale of manufactured products a little more. “Elections never bode well for consumption”observes Mr. Minvielle, from experience, referring to the expected impact on household confidence.
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