In 2020, because of Coronavirus outbreak, footwear worldwide shopping is due to decrease by 22.5%. That means, in terms of volumes, 5.1 billion pairs of shoes less. Such are the estimates provided by experts and insiders while responding to a survey carried out by World Footwear throughout March. They closely assessed 129 responses, supplied by manufacturers and traders all around the world. Prices will expectedly go down likewise.
Footwear worldwide shopping is due to drop by 22.5%
According to WF forecast, sales are going to decline, on average, by 22.5%. As regards Europe, such downturn will supposedly amount to 27%. Which means, in other words, 908 million pairs of shoes less (data source: World Footwear Yearbook 2019). In North America sales will drop by 21% (699 million pairs of shoes less, in terms of volumes), while in Asia downturn is going to reach 20% (that is, 2.4 billion pairs of shoes less).
Prices to go down likewise
Prices are due to go down likewise. The overall outlook is negative everywhere, but Europe proves to be the most pessimistic continent. Operators, interviewed by WF, have pinpointed here the main difficulties: an inadequate demand from international markets and, consequently, a few financial problems. Global competition, which used to be the major problem in December 2019, has drifted down, owing to Covid-19: it is now placing in seventh position, as only 11% of the interviewees mentioned it.
Still sneakers, but…
CRV will not supposedly affect the distribution of market shares according to product categories. In fact, in the next 3 years, the most negative outlook is about traditional women’s shoes and, most of all, men’s footwear, in terms of categories. Conversely, people interviewed by World Footwear keep being very confident in sneakers: yet (compared to the previous survey editions), they expect the gap between sports shoes and classic models to get smaller.