SHOCKING. Footwear sales and prices would fall down in 2020
According to the report distributed by the WORLD FOOTWEAR site, prepared based on the trade conditions survey carried out by experts of the International Panel, the global consumption of footwear on 2020 will decrease more than 22% compared to the previous year.
This means from a total production of 24.2 billion pairs in 2018 and a similar one in 2019, the drop in consumption will mean the manufacture of 5.1 billion fewer pairs worldwide.
"The impact of the Covid-19 pandemic will severely penalize the footwear sector in 2020," says the report.
Later it adds that the pandemic has strongly weakened the world economy and the footwear industry is not the exception. Among the surveys, almost three from four respondents expect decreasing footwear sales in the next six months, while almost half predicts a drop in prices.
WORLD FOOTWEAR is a project of APICCAPS -Portuguese Association of the Footwear, Leather and Components Industry- with 11 years of validity, dedicated to the trends study in the global footwear industry, and at the same time a valuable reference for the entire chain of international sector.
The most negative scenario is expected for Europe, with an estimated loss of 27% and less 908 million pairs consumed. North America with a decrease of 21% (696 million pairs less) and Asia with a decrease of 20% (2.4 billion pairs less) will also be particularly affected. For South America, according to own estimates, with an annual consumption of approximately 1,550 million pairs, the drop can reach 23%, that is, 350 million fewer pairs.