The market for sports-related shoes will continue to gain market share from other types of footwear over the next three years, according to 75 percent of the respondents to a survey organized by World Footwear in collaboration with Shoe Intelligence. The ratio rises to 77 percent when it comes to sneakers for daily use. Classical men’s and women’s leather shoes are expected to decline the most.
As reported in Shoe Intelligence, EDM Publications’ news service on the non-athletic footwear market, the global consumption of footwear will be next year only 2.0 percent higher than in 2019, the year before the onset of the Covid-19 pandemic, with a growth of 1.8 percent in Europe and a drop of 3.6 percent in North America.
Price is still expected to be the main driver for the perchase of a footwear item, according to 57 percent of the panel, followed by fashion trends, purchasing power and sustainability (32%). However, 77 percent of the respondents said they expect footwear prices to go up due to the inflationary pressures being felt worldwide. Only 3 percent expect a decrease. The cost of the merchandise or the raw materials is by far the most problematic issue at the moment, followed by human resources at a distance.
Between 2011 and 2020, the average export price of footwear rose by 33.8 percent from $7.75 a pair to $10.37, according to the latest World Footwear Yearbook. In the current Business Condition Survey, the consensus of panelists’ predictions is for export prices to grow by 20 percent to $12.35 a pair in 2025.
The majority of the 122 participants in the survey predicted further growth in online retailing of shoes and a certain stability in the number of mono-brand and multi-brand shoe stores. The full report is available on the website of World Footwear.
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