Why the World of Fashion Should Turn to Hemp
Oct 14, 2019
2018 was a good year for the fashion industry in the United States, because Americans spent $391.5 billion on clothes and footwear. According to the Bureau of Economic Analysis NIPA, the growth was equivalent to a 4 percent increase year after year. Furthermore, it was the highest level of growth since 2011, whose spending spiked to 5.1 percent.
The Bureau of Labor Statistics Consumer Expenditure Survey further analyzed the data and found that the amount of disposable income spent on clothing and footwear by Americans has declined from 3.8 percent in 2007 to 3.0 percent in 2019. What is more alarming is that Americans spent…
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