Economy
Colombian footwear industry slows down in 2023
After growing substantially in 2022, the Colombian footwear industry slowed down in 2023 due to the impact of high inflation, rising costs and low consumption, says ACICAM’s Vice President
Italian footwear exports to Russia increase despite the current context
Exports of Italian footwear to Russia increased in value and volume in the first quarter of 2023, as compared to the same period last year
UK: footfall declined over Summer holidays
According to the data from British Retail Consortium Sensormatic IQ, footfall decreased by 1.6% in August, after rising by 1.8% in July, as compared to the same month of 2022
International economic context weighs on Brazilian footwear exports
Falling global growth rates and high inflation continue to affect the performance of Brazilian footwear exports, which have been declining in both volume and value in the past months
Primark lowers prices across selected ranges of kidswear essentials
The fashion retailer has announced that it will lower prices on essential children’s items from the end of July to help British families cope with the ongoing high inflation
Wave of layoffs continues in Vietnam
An estimated 217 800 people have lost their jobs in Vietnam in the second quarter of 2023 due to the significant decline in orders since the end of 2022, says the General Statistics Office (GSO)
Italian footwear exports grow in value but decline in volume
In the first quarter of 2023, Italian footwear exports increased by 16.1% in value, but declined by 2% in volume, as compared to the same period of 2022, says Assocalzaturifici
UK Retail: a too-long string of ifs damps the mood
Consumer confidence in the UK has yet to take off to somehow improve retailers’ mood in the textile and footwear sectors. Rising wages, falling energy bills and even slightly lower inflation may help brighten the atmosphere, but the uncertainty surrounding all of these factors doesn’t help retail much at present. For now, except for sticking to their previous conservative import decisions and watching closely for upcoming changes in consumption patterns, there’s little to be done
UK-listed retailers' profit warnings fall to the lowest quarterly total since 2020
In the first quarter of 2023, UK-listed retailers' profit warnings fell to the lowest quarterly total since 2020, but “persistent inflation, high-interest rates and tightening consumer spending” continue to challenge the sector
US: footwear industry sales to stabilize through 2025
Following the pandemic-fuelled instability experienced since 2020, US footwear sales are expected to stabilize over the next three years, growing at a steady pace of 1%, says the NPD Group
UK consumer confidence rebounds to the highest level in almost a year
The latest data by GfK shows that UK consumer confidence hit in February the highest level since April 2022, thus displaying households’ resilience despite the cost-of-living crisis
UK consumer confidence picked up in the last quarter of 2022
The latest Deloitte Consumer Tracker revealed that after 15 months of consecutive decline, UK consumer confidence improved slightly by 0.6% in the last quarter of 2022 to -19.7%
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-
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