Despite some positive news on the growth of department store sales and the return of foreign tourists, rising consumer prices set alarm bells ringing in September, suggesting that Japanese consumers in general are cutting back on spending and may be at their breaking point. In addition, the reduction in the volume of footwear imports and the impact of the country’s monetary policy on the cost of imported goods is another sign that footwear retail is unlikely to improve by the end of the year. The Government has been taking measures, but the outcome shouldn’t be seen until 2024   

Despite signs of a certain resilience from consumers over the summer, companies are taking a cautious approach for the rest of 2023. The long deceleration in footwear inflation came to a halt in August, so if the trend recedes, wage increases will have to follow suit, or the positive outlook for footwear retail could be jeopardised. It’s not surprising how carefully retailers are managing their inventory at the moment: neither too much nor too little   

The 7th edition of the World Footwear Congress ended last week on a positive note, with the industry recognising the need for greater international cooperation to reshape its future   

The Portuguese professional footwear brand presented a new ecological sole resulting from the combination of gas and TPU with a better mechanical performance   

The Brazilian Grendene posted a revenue decline in the third quarter of 2023, as unfavourable domestic macroeconomic conditions and the global economic slowdown continue to impact consumer demand   

The US-based footwear company posted a revenue increase of 6.2% in the third quarter of 2023, as compared to the same period of 2022, driven by double-digit revenue growth from the Crocs brand