For the global footwear industry, prospects improve. According to the six-monthly Business Conditions Survey, conducted by World Footwear, consumption could grow on average by 2.8% in 2021. An increase that should anticipate the more decisive rebound in the following two years, at the end of which should be a return to pre-Covid levels. Uncertainties and difficulties, however, are not lacking, starting with the increase in costs, first of all logistics. From product point of view, nothing new: sneakers will continue to dominate.
Regarding shoe consumption in 2021, the most common response of the 141 respondents in the sample was for moderate growth. In other words, between 1.5% and 5%. This shows an optimistic evolution compared to the prospects of a few months ago. Over half of respondents expect shoe prices to stabilise, but nearly a third believe they are very likely to rise.
Which are the difficulties?
The main difficulty of the sector remains the insufficient demand both on national and international markets. Then comes the financial difficulties. Finally, but in terms of a growing concern, the cost of transport, goods and raw materials.
Which is the footwear of choice?
The survey confirms sneaker power. Sneakers, in fact, will continue to gain market share in 2021 and in the near future. On the contrary, the prospects for classic footwear, especially men’s shoes, are getting even darker.
What are the criteria for purchasing?
The factors considered most relevant in determining the sales’ evolution of each category of footwear are, in order, purchasing power and price. But a significant overturning should be emphasised: according to Business Conditions Survey, attention to sustainability is going be a more important factor than fashion trends.
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