Cost of raw materials and competition in their home market worry the footwear industry

The footwear industry continues to face significant challenges, with the cost of merchandise or raw materials remaining the most frequently cited issue. This concern, mentioned by 42% of respondents, retains its position as the industry's top challenge. While it is a widespread issue globally, it is particularly pronounced in North America, whereas it is less commonly reported in Europe.

Competition within domestic markets ranks as the second most significant challenge, cited by 40% of respondents, reflecting the intense pressure businesses face in their home countries. 

Insufficient demand in domestic markets follows closely, with 29% of respondents identifying it as the third major concern. 

Meanwhile, insufficient demand in international markets, noted by 25% of respondents, takes the fourth spot. 

Taxes emerge as a growing concern, flagged by 24% of respondents—markedly higher than in previous editions. This issue is especially pressing for respondents in Asia. In contrast, insufficient domestic demand is more acutely felt in Europe and South America.

Human resources challenges, such as workforce availability and inadequate training, financial difficulties, and competition in international markets are also noteworthy, each cited by 22% of respondents.

Issues such as regulatory or administrative requirements (9%), legal or administrative obstacles to international trade (8%), and the lack of adequate equipment or technological problems (7%) remain relatively minor concerns, each cited by fewer than 10% of respondents. Climate-related issues are similarly low on the list, mentioned by just 7% of respondents. 

Finally, "other" concerns were mentioned by only 1% of respondents, emphasizing that the primary challenges for footwear businesses are well-defined and broadly consistent across
geographies.

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About Survey

In 2019 the World Footwear has created the World Footwear Experts Panel and is now conducting a Business Conditions Survey every semester. 

The objective of the World Footwear Experts Panel Survey is to collect information regarding the current business conditions within the worldwide footwear markets and disseminate this information to provide an accurate overview of the situation of the global footwear industry. The eleventh edition of this online survey was conducted during the months of November and December 2024. 

We have obtained 107 valid answers, 49% from Asia, 21% from Africa, 18% from Europe, 6% from North America, 5% from South America, and 1% from Oceania. About half of respondents are involved in footwear manufacturing (manufacturers) or footwear trade and distribution (traders) and the other half in other footwear-related activities, including trade associations (12%), education and research (8%), consultancy (8%) and other activities (23%).

Previous Editions of this Bulletin can be found HERE