Imports
US Retail: there’s still a great deal of uncertainty
There are still no solid signs of a recovery in the footwear retail sector. Despite mirroring last year’s trend, sales are consistently lower than in 2023, and footwear imports continue their downward trajectory. This may suggest that prices have not yet reached a level where consumers will bite. The truth is that the US economy has made great progress and inflation has eased considerably, but not enough to reassure consumers, who are still uncertain about what will happen next. And when that happens, discretionary items always pay the price
Brazilian footwear industry concerned by surging Chinese imports
The warning comes from Abicalçados. The surge in Chinese footwear imports is causing concern for the Brazilian footwear industry, which continues to see a steady decline in exports
UK Retail: are the winds starting to blow in retailers’ favour?
Despite a slight upturn in sales of Textile, Clothing and Footwear in March, a number of factors, including an early Easter, poor weather and the high cost of living, soon led to a visible lack of demand. This will most likely lead to a decline in the number of footwear imports, breaking the growth trend seen in the first quarter of the year. On the bright side, inflation is at its lowest since November 2021 and the economy seems to be picking up, so there is room for some improvement in consumer sentiment. With the UK on the brink of a General Election and a series of sporting events promising to bring people onto the streets, are the winds starting to blow in retailers’ favour?
France Retail: the ball is in the consumers’ court to boost retail
The first quarter of the year brought some contradictory signs in France, but perhaps all is not lost, especially for footwear retailers. Prices in the category have been rising at a slower pace than general items, becoming more stable every month, which perhaps helps explain the (albeit residual) increase in footwear sales in March. Confidence indicators for both retailers and consumers remain in the red, but the small year-on-year increase in imports at the start of 2024 points to higher demand later in the year. With the European elections in June and the Olympic and Paralympic Games in August, as well as real wage growth, the ball is in consumers’ court to boost retail
Spain Retail: concerns grow for retailers after an unexpected fall in sales
While 2024 began with consistent, albeit modest (around 1% monthly) growth, a concerning trend emerged in March, with retail sales falling sharply by 7.9% as compared to the previous month. However, a silver lining remains. Fashion is currently the retail sector experiencing the least inflation, and consumers still hold some optimism about the overall economy. This suggests that a period of resilience may be needed from retailers, but a potential rebound could be on the horizon
2023: a slow year for Italian footwear exports
Footwear exports in 2023 faced a gradual decline, resulting in a year-end figure that was 0.6% lower in value as compared to the previous year. Negative import figures also suggest a lack of momentum in the market
FDRA calls on Biden administration to eliminate footwear tariffs
Matt Priest, president and CEO of the Footwear Distributors & Retailers of America (FDRA), called on the Biden administration to eliminate tariffs on footwear in order to address rising shoe prices
Japan Retail: trade did not improve at the end of 2023, but a recovery is not out of the picture
As anticipated in the previous edition of the WF Retail Japan, trade (physical and online) did not improve at the end of 2023. What’s more, the country unexpectedly slipped into recession amid sluggish consumption and pressure on retail costs due to the weak yen. However, it’s expected that the easing of consumer inflation and the recovery of wages due to labour shortages could occur in the first half of 2024 and both consumer and retailer sentiment is on an upward trend. So perhaps a modest recovery could take place soon
Tough times ahead for German shoemakers
German footwear manufacturers are facing a challenging 2024, says HDS/L, highlighting only nominally higher 2023 sales and losses on imports, especially in the second half of the year
Italian footwear production slows down
Italy recorded a footwear production of 148 million pairs last year, down by 8.6% year-over-year and a far cry from 2019’s 179 million pairs, after a progressive slowdown since the start of 2023
US Retail: it’s all about the prices
There are signs that footwear retail sales could rise moderately in the near term, but this will all depend on future price behaviour. On the one hand, the CPI suggests that the risk of renewed price rises is well contained, but on the other hand, retailers continue to manage excess inventories, so their pricing power may not be more evident until 2024. Perhaps better news comes from consumers’ inflation expectations for the next 12 months, as they seem to believe that they will get a break from inflation, which usually leads to more discretionary demand
Germany Retail: despite some good news, retailers continue to worry
German retailers’ worries are not over. Despite a slight uptrend in the Textile, Clothing, and Footwear (TCF) Retail index, in line with the recent positive trend in consumer confidence indicators, their concerns go well beyond nominal performance and focus on whether inflation will continue to erode margins. Put simply, passing on costs to customers or closing down altogether is still keeping them up at night. As the first quarter is traditionally slow, and the volatile geopolitical situation could change at any moment, we are cautious about making near-term forecasts
Spain Retail: clouds are lifting for retail
Despite some concerns about inflation, retailers were optimistic about their prospects for the end of 2023, and data on imports at least confirmed a stabilisation in the footwear trade on favourable grounds. Looking at our previous Retail Flash, it’s now safe to say that the clouds are lifting over retail in Spain. On a different note, online fashion has clearly lost the momentum generated during the pandemic
Indian leather industry seeks fiscal incentives in 2024 Budget
The Council for Leather Exports (CLE) in India has called for several financial incentives for the leather industry in the forthcoming Budget 2024
Global slowdown in international footwear trade
A sluggish demand in two of the main areas for footwear consumption, the US and Europe, resulted in a global slowdown in international trade throughout 2023. Check the snapshot of the performance of the main players with the figures known so far-
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