Fashion sales in KSA to surge by 48%


July 5, 2023 | By RetailME Bureau

Fashion sales in KSA to surge by 48%

Fashion sales in the Kingdom of Saudi Arabia (KSA) are expected to surge by 48% from 2021 to 2025, at a compounded annual growth rate of 13%, indicated Saudi Fashion Commission’s report titled ‘The State of Fashion in the Kingdom of Saudi Arabia 2023’.

This growth is expected to be fuelled by the Kingdom’s economic expansion and a growing population, with apparel, accessories, footwear and luxury goods all poised for significant gains. While women’s apparel market is forecast to grow by 20% by 2027, men’s fashion market, although smaller than women’s, is expected to grow by 27% from 2022 to 2027.

Given the boldness of Vision 2030 and its focus on growing non-oil GDP the contribution of the private sector to the Saudi economy and the greater inclusion of women in economic activity, fashion has the potential to be a major driver of the strategy.

In fact, in 2022, Saudi Arabia’s fashion industry comprised 52% female employees. A total of 66% of all fashion jobs within the Kingdom were held by Saudi nationals. Of the total 230,000 fashion jobs, 90,000 were in core fashion occupations, where employment is strictly supporting the fashion industry, and 140,000 in non-core supporting/ancillary occupations existing in the fashion and other sectors.

Meanwhile, data from the Ministry of Human Resources and Social Development indicated that in 2022, there were 73 fashion occupations of which 13 were core (100% included in employment counting, e.g., tailor, model and jewellery designer) and 60 linked occupations (partially counted: e.g., clothes seller, textile machine operator and tanner).

Confidence in KSA’s fashion sector is strong, with 70% of the Fashion Commission Outlook Survey respondents reporting that they expect to see Saudi fashion sales grow over the next three years.

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