The available data suggests that retailers made sure to fill up their stocks this year, most likely causing supply to outstrip demand. But while demand may have slowed down, mainly due to high inflation, spending has not ceased, and retailers are expected to increase their promotions through the end of the year to dispose of marked-down excess inventory. Consumer confidence indicators are somewhat mixed, but it is safe to assume that, at least, it has stopped bleeding. In fact, the contrast with European consumers is clear, showing that US shoppers are less sensitive to the geopolitical risks concerning the ongoing war in Ukraine. Meanwhile, though slowly, footwear prices increases are starting to decelerate