Footwear consumption plummets by 27%
According to the Consumption Indicator from the Argentine Chamber of Commerce and Services -CAC-, the clothing and footwear sector saw a 27% drop in the first five months of 2024 compared to 2023. This trend is difficult to reverse unless certain economic variables are realigned to allow for recovery.
Argentine footwear factories continue with limited production due to weak demand and are making significant efforts to maintain their workforce.
Faced with the feared influx of imported footwear, industry entrepreneurs asserted that the primary issue is the lack of consumption, affecting both domestic and imported products equally. Industrial circles note ongoing difficulties in importing, due to both internal and external factors, as well as accumulating debts among Argentine importers.
There is cautious optimism for the upcoming footwear exhibitions in Buenos Aires and Córdoba in July, showcasing new Spring-Summer collections, with hopes that the seasonal change will encourage sales to merchants who wish to set up their first shop windows for that season.
RELATED ARTICLES:
- Retail shoe sales: Decline by 12.5%
- Sharp decline in footwear consumption