Anticipating increased consumption
For 2023, an average growth of 7.8% in global footwear consumption is estimated based on responses from participants in the Business Conditions Survey. This could translate to around 1.6 billion more pairs, according to World Footwear's estimations.
As such, South Americans anticipate a 10.6% increase; Europeans, 8.5%; Asians, 7.7%; North Americans, 5.6%; and Africans, 4.5%.
However, they also mentioned some problems, such as the cost of raw materials or merchandise, followed by insufficient demand in the local market and financial difficulties.