In this century, there has been a striking downturn in fashion retail activity, and the trend shows no sign of a quick rebound. The latest yearly update from Acotex, the association representing textile, accessories, and leather trade, confirms that the sector remains far from recovering the pandemic-induced wounds and that the decline persists across key indicators.
In 2019 there were 61,891 textile-focused shops open in Spain. With 2023 data, Acotex identifies 43,879 stores, a 29% drop. The country also records about a hundred fewer active points of sale than in 2022, marking the fourth consecutive year of decline after a sharp reduction of nearly 15,000 businesses caused by the health crisis.
Expansion plans from major players like Inditex and Mango show a shift toward larger, better-located stores rather than a broad network of smaller openings. Nevertheless, several brands that began online and grew popular with younger consumers through social media have still opened physical locations in recent years. Even so, the overall number of shops continues to fall, suggesting that many small independents are closing their doors.
This report reinforces the pessimistic view with additional data. For example, the number of people employed in textile establishments has risen only 0.8% year over year and remains far from 2019 levels, with nearly 166,800 workers currently employed compared with 199,100 then. Turnover across these stores barely surpasses 11 billion euros, a modest increase from 2022 of about 3.4%, but not enough to close the 7 billion-euro gap versus pre-pandemic activity. It is notable that 2023 was a record year for tourist spending in Spain, with tourism expenditures exceeding 108 billion euros and around 80% of that allocated to fashion and accessories.
Still, overall textile trade in Spain last year posted roughly 40% below 2019 levels, with Madrid, Catalonia, and Andalusia concentrating nearly half of these revenues.
Family spending on textiles remains well below the five-year average. Acotex notes an annual per-household expenditure of about 922 euros, compared with the 1,200 euros typical since 2015.
Las cadenas ganan peso
The leading segment in the sector is the chain stores. These stores have gained significant traction since the 1990s, when they accounted for only about 8% of total fashion retail income. The 2023 snapshot shows that big-name brands such as Zara, Bershka, Stradivarius, Mango, and H&M now capture roughly 39% of consumer spending on fashion, a share that accelerated after the pandemic. Meanwhile, multibrand stores have shed weight, dropping from nearly 60% of the market at the end of the previous century to below 10% today.
Between these two formats sit hypermarkets and supermarkets, which together represent around 27% of fashion-related spend, and outlet stores at about 16%. Large department stores occupy the remaining portion, accounting for roughly 8% of fashion, accessories, and home textiles spending.