Footwear Market 2023 Presentation

Inflation, Economic Uncertainty Slow Market

• Inflation may have decreased substantially from one year ago, but 38% of all shoppers participating in the mid-August 2023 Numerator Consumer Sentiment Survey listed “personal” finances as their primary concern.
• Almost three-quarters (73%) were uncomfortable “splurging on premium or luxury items” and 37% said they would reduce spending on apparel during the next few months, a category that includes footwear.
• Nevertheless, personal consumption expenditures data from the US Bureau of Economic Analysis revealed spending for “shoes and other footwear” increased 3.5% YOY during Q1 2023 and increased 1.3% YOY during Q2 2023.

Download the 8 page PDF report and the 14 slide PowerPoint Presentation