Fashion pulse: Poland - March 2026

Consumer prices (March)

Fashion prices in Poland continued to deflate in March, falling 3.2 percent year-on-year, while overall inflation accelerated to 3.0 percent, according to Poland’s national statistics office GUS. The deflation rate eased slightly from minus 3.4 percent in February, suggesting the downward price trend may be nearing a floor. Poland stands out among European markets as one of the few countries where clothing and footwear prices are falling while headline inflation is rising. The 6.2 percentage point gap between overall CPI at plus 3.0 percent and fashion CPI at minus 3.2 percent is the widest of any country in the Fashion pulse series.

Retail sales (February)

Retail sales of textiles, clothing and footwear grew approximately 6 percent year-on-year in February in nominal terms, outperforming the overall retail increase of 5.0 percent, according to GUS. The combination of falling prices and rising sales volumes points to genuine demand growth in the sector.

Macro context (March)

Consumer confidence dropped to minus 12.2 in March from minus 9.1 in February, according to GUS, with expectations for the future economic situation falling sharply to minus 24.1 from minus 13.9. The retail trade business climate index improved slightly to minus 1.3 from minus 2.1 in February, according to GUS, suggesting retailers are slightly less pessimistic than consumers. Unemployment remained stable at 3.2 percent in February according to the European Union statistics office Eurostat, among the lowest in the EU. The National Bank of Poland (NBP) maintains the reference rate, with the zloty’s movement against the euro and dollar affecting import costs for fashion retailers.

The bottom line: Poland’s fashion market presents a paradox — prices deflating at minus 3.2 percent while retail volumes grow. This suggests strong competitive pressure driving prices down, likely from e-commerce platforms and the expanding second-hand market, which now accounts for nearly 15 percent of total clothing retail. The sharp confidence drop to minus 12.2 may test whether consumers continue spending despite growing pessimism.

Note: The figures in this article are based on different reporting periods. Some indicators are already available for March, while others are reported with a time lag due to survey and publication cycles. This is common practice in official statistics and nevertheless allows for a reliable assessment of current market trends.