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Average footwear prices expected to increase

07 Jul 2023

News Average footwear prices expected to increase
In the latest edition of the World Footwear Business Conditions Survey, our panel members predicted an increase of 7.3% in footwear prices over the next six months. Get free access to the report with the main conclusions.The latest statistics on international trade in 2022 indicate a positive trend in global footwear imports during the second half of the year. Despite the uncertain evolution of the global macroeconomic scenario, the economic growth forecasts are optimistic.

According to our panel members, footwear prices are expected to increase by an average of 7.3% and the quantity of footwear sold by 3% in the next six months. Most of our respondents anticipate robust business health during this period, with no significant changes expected in the employment level.

In this edition of the Bulletin, the cost of merchandise or raw materials is still the main concern for footwear businesses, but a lower percentage of respondents raised this issue compared to the previous edition (59% vs. 81%). Other concerns include weak demand and financial difficulties.

Regarding the forecast for footwear consumption in 2023, our panel members predict an average increase of 7.8% in global consumption. If this forecast is accurate, footwear consumption will increase by approximately 1.6 billion pairs worldwide.

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