The third quarter of 2023 showed a significant increase in footwear imports to the Russian Federation
In the 3rd quarter of 2023, shoe imports to Russia increased by 47% year on year. At the same time, the growth of domestic footwear production amounted to 13%, notes the report of the labeling operator Center for the Development of Advanced Technologies (CRPT).
According to CRPT analytics, shoe imports into the Russian Federation in the 3rd quarter of 2023 increased by 47% compared to the 3rd quarter of last year and amounted to 106,5 million pairs in physical terms. It was based on boots - their supplies amounted to almost 61 million pairs, as well as boots - 23,1 million pairs.
Experts justify this growth by the low base effect and the need for companies to adapt to new economic conditions. “In 2022, many companies were faced with the need to review their product range and change supply chains. That is, familiar goods were no longer supplied in standard ways, and we had to look for replacements in other markets or consider options with parallel imports,” explained Anna Petrushina, head of the Legprom product group at CRPT. The share of imports in the footwear market in Russia in the 3rd quarter of 2023 was 56%.
According to the Honest Sign labeling system, shoe production in Russia increased by 13% in the reporting period. At the same time, about 42% of the country’s shoe production is in the category “slippers.” In the 3rd quarter of 2023, almost 18,8 million pairs of this type of footwear were produced in Russia. Over the year, the production volume of “slippers” increased by 11%.
In the third quarter of 2023, as in the same period last year, Russian consumers most often purchased boots - they accounted for almost 33% of all sales. Next in the ranking of the most popular footwear categories are slippers (almost 20% of sales) and shoes (18% of sales).
As for the cost of shoes, in the third quarter of 2023, the largest price change was in the “sneakers” category - an increase of 14% compared to the weighted average price last year: in the third quarter of 2022, sneakers were bought on average for 2 rubles, and in for the same period in 170 - 2023 rubles. Next come shoes, the average price for which increased by 2% over the year, to 483 rubles per pair.
In the 3rd quarter of 2023, shoe imports to Russia increased by 47% year on year. At the same time, the growth of domestic footwear production amounted to 13%, notes the labeling operator’s report...
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