Economy
Spain Retail: will the positive momentum hold up?
Fashion retail sales were generally positive from July to November 2024, but will this trend continue? While we await official data on year-end sales, the negative footwear inflation seen in October and November, combined with a rise in consumer confidence, may have helped to boost spending. And with import figures showing that retailers were stocking up, let’s hope the holidays were the reason, as a recent dip in retail confidence could be just the bad news the sector didn’t need to hear at the start of the year
New Look to accelerate store closures ahead of tax changes
The British fashion retailer is reportedly accelerating its store closure campaign ahead of tax rises in the UK’s next budget. It’s feared more retailers will follow in its footsteps
UK consumers to cut spending in January
UK retailers could be bracing themselves for a squeeze in consumer spending due to a sharp fall in expectations about the country’s economic situation, according to the British Retail Consortium
2025 brings questions to the Italian leather sector
Italy's tanning industry currently struggles with declining demand, rising economic pressures and labour challenges, while hopes for recovery hinge on global economic, political and trade stability
France Retail: retailers cautiously optimistic for the holidays
October brought good news for footwear sales and retailer confidence is also on the rise, despite negative footwear inflation and rising costs. However, the picture isn’t clear regarding consumer confidence, which fell to a five-month low in November as households worried about the economic outlook in light of France’s difficult political environment. Will this weigh on footwear sales in the last two months of the year, or will recent news that consumers are planning to spend more on the festive season prevail?
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-
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