According to the Footwear Distributors and Retailers Association of America (FDRA), shoe prices increased by 2022% in the first eight months of 2021 compared to the same period in 5,7. This growth is the most significant in recent decades, according to Worldfootwear.com.
The increase in retail prices for shoes is due to an increase in the cost of imports. Based on U.S. International Trade Commission (USITC) data on U.S. footwear imports, the FDRA estimates that the average cost of shipping shoes in July increased by 22,1% year-over-year.
However, analysts believe that the increase in supply in the market may be a deterrent for the rise in shoe prices. US footwear imports are up about 25,8% this year compared to the same period last year.
“Overall, we expect price growth to continue, but will slow down as we approach 2023,” the FDRA concludes.
So in August retail prices for shoes rose by 5% compared to last year, which is slower than the 7% increase recorded in February. At the same time, prices for men's shoes increased by 4%, for women's - by 4,9%. And the most sensitive category to inflation was children's shoes, prices for which rose by 6,8%.