World

War on Ukraine to negatively impact footwear

Jul 11, 2022 Business Conditions Survey

This is one of the main outcomes of the most recent edition of the World Footwear Business Conditions Survey. Access the complete report free of charge and read more about the expectations of our panel of international footwear experts

On the 24^th February 2022 Russia invaded Ukraine. As the war is now on its fourth month, its economic fallout, to Europe and the rest of the world, is becoming clearer, adding turbulence to already existing global inflationary pressures, reflecting on rising food and energy prices, and disrupted supply chains because of the pandemic.

In this edition of the survey, we asked our experts about their prospects regarding the impacts of this conflict on the footwear business. More than two third of our experts believe this war is going to negatively impact the footwear business in their countries, while 29% expect it to have no effect at all in this specific business.

Respondents from countries with significant exports to Russia are particularly concerned with the situation.

Average growth of footwear consumption

As in the previous editions, we also questioned our panel of experts about their expectations regarding the growth of footwear consumption and almost half of the respondents believe that in the current year footwear consumption will grow between 1.5% and 5%, but more of them believe that growth will be stronger than that rather than weaker.

On average, our experts expect a growth of 5.9% in the consumption of footwear, in pairs, in 2022, globally.

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Executive Summary
Business Context
Health of the Business
Employment Level
Prices
Quantity
Difficulties
Retail Channels
Average Growth of Footwear Consumption to Reach 5.9%
Footwear Prices Expected to Increase
War on Ukraine to Negatively Impact Footwear
About Survey

About the Survey

In 2019 the World Footwear has created the World Footwear' expert 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 then to redistribute such information in a way it will provide an accurate overview of the situation of the global footwear industry.

The sixth edition of this online survey was conducted during the month of April 2022. We have obtained 108 valid answers, 48% coming from Europe, 22% from Asia, 14% and 9% from North and South America, respectively, and 7% from Africa. Half of respondents are involved in footwear manufacturing (manufacturers) or footwear trade and distribution (traders) – 32% and 18%, respectively – and the other half in other footwear-related activities, including trade associations (20%), consultancy, journalism, etc.

Previous Editions of this Bulletin can be found HERE