Global footwear consumption will grow by 9,5% in 2024
26.02.2024 1119

Global footwear consumption will grow by 9,5% in 2024

In the weekly analytical review of World Footwear, “Study of the conditions of the global footwear business,” experts predict an increase in global footwear consumption in pairs by 2024% year-on-year for 9,5. The analytical review was compiled based on the results of a survey of industry experts from Asia, Africa, Europe, North America and South America.

The majority of respondents expect shoe consumption to grow in 2024: 24% very strongly, 25% strongly and 31% moderately. Only 6% of respondents expect a decline in shoe consumption next year. On average, experts expect consumption of paired shoes to increase by 2024% in 9,5 compared to 2023.

In 2024, footwear consumption is expected to grow in Africa (13,4%) and Asia (10,8%) respectively, compared to other regions. Economic and demographic trends are driving the growth in these parts of the world.

In Africa, the growth in shoe consumption will be driven by high birth rates. In addition, several African countries, including Mozambique (7%) and Congo (6,7%), are projected to have very high real GDP growth rates in 2023, according to IMF forecasts. Similarly, in Asia, where significant growth is expected, countries such as India (6,3%) and Bangladesh (6%) are expected to see higher real GDP growth rates in 2023, further boosting footwear demand . These economic and demographic factors combine to fuel the projected growth in footwear consumption in both Africa and Asia next year.

Europe is the least dynamic continent for footwear consumption, with growth forecast at 2024% in 1,4. Shoe consumption in the Americas will continue to grow moderately.

In the weekly analytical review of World Footwear, “Study of the conditions of the global footwear business,” experts predict an increase in footwear consumption in the world in pairs by 2024% year-on-year for 9,5.…
5
1
Rating

Latest News

Fashion house Schiaparelli has released sneakers with socks in the shape of golden toes

For the first time in its history, the fashion brand Schiaparelli, revived in 2013, released sneakers. The shoe model corresponds to the style of the most surreal brand in world fashion. Schiaparelli creative director Daniel Roseberry,…
22.04.2024 162

Brunello Cucinelli increased revenue in the first quarter by 16,5%

With LVMH recently reporting a 2024% drop in revenue for the first quarter of 2 due to overall stagnation in the luxury market, Italian fashion house Brunello Cucinelli has bucked the trend. IN…
18.04.2024 317

Lamoda launches its own clothing and footwear brand

Russian online retailer Lamoda presented the first collection of its own women's clothing brand NUME. Exclusively on the Lamoda online platform under the NUME brand, about 90 items for women’s wardrobe are offered -…
18.04.2024 366

Shoe and clothing brands have released special collections for the 20th anniversary of the ST-JAMES boutique

The multi-brand boutique ST-JAMES, managed by a major player in the Russian fashion market, the Jamilco company, celebrates its 20th anniversary this year. A number of shoe and clothing brands represented in the boutique have prepared special…
18.04.2024 346

Balenciaga has released a new release of oversized 10XL sneakers

Fashion house Balenciaga debuted the 10XL sneaker during its fall 2024 runway show in Los Angeles back in December. At the time of the show, the first two color schemes of the new model were available for pre-order, which deliberately surprised...
17.04.2024 458
When you sign up, you will receive weekly news and articles about the shoe business on your e-mail.

To the beginning