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Footwear industry with optimistic expectations for the future
In the latest edition of the World Footwear Business Conditions Survey, our panel members predicted an increase of 7.3% in footwear prices over the next six months. Get free access to the report with the main conclusions
The most recent statistics reveal a decline in international footwear trade over the first nine months of 2023. Imports to major markets have decreased compared to the same period last year. This trend is likely to persist in the near future as the latest macroeconomic projections indicate slowing GDP growth.
Despite this slowdown, the general outlook of this survey is positive. Most panel members anticipate an increase in both the quantity of footwear sold and prices, with prices expected to rise significantly. This optimism regarding price growth could stem from the lingering effects of global inflationary pressures, even as inflation rates have begun to moderate in the current semester. Additionally, the majority of respondents expect their businesses to remain in "good health" in the coming months, with employment stabilizing.
Over the next three years, the significance of digital retail channels in footwear sales is projected to further expand. The cost of merchandise and raw materials continues to be identified by the panel as the primary challenge faced by the footwear industry in the next six months. Closely following are competition in domestic markets and financial difficulties.
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Contents
Executive SummaryBusiness Context
Health of the Business
Employment Level
Prices
Quantity
Difficulties
Retail Channels
Expectations about the Evolution of Footwear Consumption in 2024
Footwear Consumption to Increase 9.5% in 2024
Impact of COVID-19 on the Location of Footwear Production
About Survey
About the 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 ninth edition of this online survey was conducted during the month of November 2023.
We have obtained 118 valid answers, 41% from Asia, 32% from Africa, 18% from Europe, 6% from North America and 4% South America. About 40% of respondents are involved in footwear manufacturing (manufacturers) or footwear trade and distribution (traders) and the other 60% in other footwear-related activities, including education and research (14%), trade associations (12%), consultancy (9%) and other activities (25%).
Previous Editions of this Bulletin can be found HERE