Overall, shoe prices increased by 4,6% last year compared to 2021, according to the Footwear Distributors and Retailers of America (FDRA) Association of Footwear of America. But by the end of 2022, there was a slowdown in growth, writes Worldfootwear.com.
Retail shoe price growth slowed in December 2022, with prices up only 0,8% compared to the same month in 2021, the slowest price increase in 21 months. Segment-wise, year-on-year prices for men's shoes rose 0,5%, women's shoes 0,1% and children's shoes 2,9%.
In general, these data confirmed the FDRA's forecasts of the highest rate of growth in US shoe prices in 2022 in the last forty years. The association also pointed to a slowdown in price growth at the end of the year, and expects this trend to continue throughout 2023 as inventory in the shoe market exceeds demand.
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