Economy
British Retail Consortium forecasts low retail sales growth for 2023
According to the British Retail Consortium (BRC), UK retail sales will grow between 2.3% to 3.5% in 2023, with the pace somewhat picking up in the second half of the year
Brazilian footwear production to grow at a lower rate in 2023
As the year closes with an estimated growth of 3%, Brazil's footwear production rate is expected to decline to 1.6% in 2023 due to the macroeconomic slowdown and the gradual return of China to the global market
US: majority of SMBs are contemplating nearshoring
According to a survey released by the tech company Capterra, 88% of small and midsized businesses (SMBs) are considering or have already switched some of their suppliers closer to the US
William Wong: to prove sustainability we need transparent traceability
Today we bring you an interview with William Wong, President at Global Footwear Sustainability Summit and Vice President at Hong Kong Footwear Association. We have talked with William about what is going on the footwear industry nowadays
UK: VAT-free shopping scheme will not be reinstated
The new British Finance Minister Jeremy Hunt announced that the Government no longer plans to reintroduce VAT-free shopping for overseas visitors. Luxury and retail sectors are against it
UK: unemployment hits the lowest level in 50 years
Unemployment stood at 3.5% in the three months to August, down by 0.3 percentage points from the previous quarter, falling to the lowest level since 1974, but due to a rise in economic inactivity
Jane Wilson, Chairman of BFA: as one collective voice, we are much stronger
We spoke with footwear veteran Jane Wilson, recently named Chairman of the British Footwear Association (BFA), about the role of the Association in the current challenging macroenvironment and the main challenges for the British footwear industry in the future
US labour market powers ahead
Despite recessions fears, the US Bureau of Labour Statistics reported that employers hired far more workers than expected in June. Wages continued to rise at a steady pace
US footwear industry expects sales to decline
According to the Footwear Distributors & Retailers of America (FDRA), the footwear industry is pulling back on hiring and investment due to a major forecast of weaker sales for the next six months
Vietnamese workers reluctant to go back to work
Generalized labour shortage across the manufacturing sector slows down Vietnam's economic recovery, despite companies offering better wages and benefits to attract workers back
Mexico: footwear industry expects to close 2021 with growth
The Chamber of the Footwear Industry of the State of Guanajuato (CICEG) forecasts that the footwear industry will close the year with growth of 25%, on a comparable basis to 2020
Germany's manufacturing: new orders up by 1.4%
According to provisional results from the Federal Statistical Office (Destatis), real (price adjusted) new orders increased by a seasonally and calendar adjusted 1.4% in January 2021 compared with December 2020
The world’s most expensive cities
Paris and Zurich re-join Hong Kong at the top of the latest ranking of the world's most expensive cities, according to the latest information by The Economist
Retail trade in Latvia down 0.6% in May
Compared to May 2019, total retail trade turnover reduced by 0.6 % in May 2020. Turnover of retail trade in food products grew by 1.6 %. Retail sale of clothing, footwear and leather goods with one of the most significant turnover drops
Could Covid-19 be a turning point in geopolitics?
A recent report by The Economist Intelligence Unit reflects on how the Covid-19 pandemic can influence the balance of power and change geopolitics-
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Footwear Consumer 2030
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