Economy
Challenges loom for the Brazilian footwear industry in 2025
With tax reform and trade protection as priorities, Brazil's footwear industry expects pressing challenges in 2025, including payroll tax changes, high interest rates and import competition
Shoe Zone issues profit warning
The British footwear retailer has cut its full year adjusted profit forecast due to difficult trading conditions and increased costs resulting from the October government budget
Netherlands Retail: good expectations for the footwear holiday season
After record growth between July and September, footwear sales fell abruptly in October, accompanied by a hiccup in consumer confidence. But that’s no cause for despair: lower footwear inflation has kept footwear prices relatively stable and there has been a recent upturn in retailer confidence. This could bode well for the future of footwear imports, especially with the festive season just around the corner. In this context, the online channel will continue to be favoured by Dutch consumers to shop
EU and Mercosur conclude free trade negotiations
Last Friday, the European Union and the Mercosur bloc agreed on the much-delayed free trade agreement. The deal is now subject to approval by the Council and Parliament
Global luxury spending to hold steady in 2024
Growth in luxury experiences and shrinking demand for luxury goods highlight a shift in consumer priorities as brands navigate changing market dynamics and regional challenges
Horacio Moschetto (CIC): we aim to adapt and position the Argentine footwear sector as a global benchmark
We spoke to Horacio Moschetto, who has headed the Chamber of the Footwear Industry from Buenos Aires since 2003. We discussed the current challenges and opportunities for Argentina’s footwear sector
US Consumer Confidence recovers in October
October marked broad improvements in consumer sentiment across age and income groups, with expectations for economic growth exceeding thresholds that typically signal recession concerns
German consumer sentiment shows signs of improvement
German consumer sentiment rose more than expected in November despite high prices and a difficult labour market, according to GfK and the Nuremberg Institute for Market Decisions (NIM)
Japan Retail: the picture is unclear for both consumers and retailers
Contrary to what was suggested in our previous flash, fashion retail sales have fallen sharply since April, by a total of 22.8%, while total retail sales have remained somewhat stable. In this context, the low footwear inflation in Japan, now close to 0%, tends to indicate a lack of demand. Perhaps the growth in consumer spending and tourism will help to turn the situation around, especially given the falling yen in September. However, for now, the future remains unclear for all
US holiday retail sales expected to rise up to 3.3% in 2024
Consulting firm Deloitte forecasts that holiday retail sales will increase between 2.3% and 3.3% in 2024, driven by a projected 7% to 9% growth in e-commerce as consumers continue to shift to online
Spain Retail: the future looks brighter for retail
Fashion sales finally picked up in July and August and are back in the green, after a worrying March. The truth is that the prospect of better economic growth and recent falls in inflation and unemployment have reassured Spanish consumers and given them a sense that the future may be brighter. All in all, this has led retailers to stock up in the hope that sales will continue to rise in the coming months. If these factors remain in place, the footwear sector is likely to end the year on a positive note
US retail sales continue to increase despite slower employment growth
According to the CNBC/NRF Retail Monitor, August retail data showed steady growth, with total sales up by 2.11% year-on-year, led by solid performances in the online, clothing, and health sectors, even as job growth slowed
France Retail: still a blurred picture for footwear retail
French footwear retailers seem to be at a crossroads trying to figure out what will happen next. Prices are flat, sales are slow, consumer confidence is in general volatile, and stocks are building up (leading to a fall in imports). There was, however, a small improvement in consumer confidence in August, in line with the downward trend in inflation, suggesting that a much-needed relief may be reaching French households. Still, this may not be enough to boost retail sales this year as political uncertainty continues to cloud the horizon
Japan Retail: slow but steady future for retail
After unexpectedly slipping into recession at the end of 2023, the Japanese economy appears to be back on track to grow 3.2% in 2024 (FMI forecast). Against this backdrop, fashion retail sales are outperforming the overall retail performance and, interestingly, footwear inflation is now below the 2% target for any economy. However, the picture is not so clear-cut. The weak yen could dampen any growth in imports and the country is still adjusting to a major change in monetary policy. Nevertheless, as predicted in our last Flash, it’s safe to say that a modest recovery has taken place in the sector-
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