Industry Analysis & Industry Trends
Industry in repair
Because this industry is generally countercyclical, business went up during the recession as people opted to repair their shoes instead of buying new ones. This trend is expected to hold through 2012; however, as the economy recovers, people will return to buying new shoes, especially as the average price of shoes continues to decline. Fast-fashion trends and low-priced imports will also hamper demand for repairs. In response, shops will focus on high-income customers with high-end shoes... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Shoe Repair industry is in the declining phase of its life cycle. Industry value-added (IVA), which measures the industry's contribution to the economy, is projected to drop at an annualized rate of 2.0% from 2008 to 2018. In contrast, GDP is expected to grow 2.1% per year on average during the period.
Despite an anomalous post-recessionary boost, the industry has not fared well and is not expected to do better in the future. Demand for industry services is expected to continue to drop through 2018 due to the increasing penetration of low-cost imported shoes and consumer tastes for fast fashion. As a result, the number of industry establishments is expected to decline at an annualized rate 1.2% during the ten years to 2018... purchase to read more