Peru is expected to remain in recession for several years and this will affect the sales performance of apparel and footwear specialists. As affordability becomes a bigger issue, consumers will allocate a smaller budget to basic everyday goods, with even less expenditure for fashion and clothing.
Since 2023, weather temperatures in Peru have become warmer than usual due to the coastal El Niño phenomenon. The hotter climate has already impacted clothing sales in 2023, with the trend likely to continue in 2024 as El Niño exerts further influence on the Peruvian climate.
Younger consumers offer new opportunities for the development of new markets, since many of them have interests that are different from their older counterparts, which include interest in environmental care, sustainable consumption, little attachment to owning products and concern about consuming products that have been manufactured under unfair working conditions. Although in Peru this trend is not as noticeable as in other more developed countries, it is still an aspect to consider and include in the value propositions of brands.
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Understand the latest market trends and future growth opportunities for the Apparel and Footwear Specialists industry in Peru with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Apparel and Footwear Specialists industry in Peru, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Apparel and footwear specialists are chained or independent retail outlets with a primary focus on selling one or more of the following categories: clothing, footwear, and/or fashion accessories (costume jewellery, sunglasses, belts, hats, gloves, handbags, scarves, etc.). Apparel specialists include specialty apparel like wedding dress shops. Example brands include Primark, TJ Maxx, and Zara. Sportswear retailers, such as Adidas and Nike, are excluded from this channel and are included in Sports Goods Stores; this is due to the companies considering themselves sports companies as opposed to apparel companies.
See All of Our DefinitionsThis report originates from Passport, our Apparel and Footwear Specialists research and analysis database.
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