Industry Analysis & Industry Trends
Because the Shoe Repair industry is generally countercyclical, business performed well during the recession as people opted to repair their shoes instead of buy new ones. This trend is expected to hold through 2014; however, as the economy continues to strengthen, consumers 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 stage of its life cycle. Industry value-added (IVA), which measures the industry's contribution to the economy, is projected to fall at an annualized rate of 1.6% over the ten years to 2019. In contrast, GDP is expected to grow 2.7% per year on average during the period. Other characteristics that firmly establish this industry in the declining life cycle stage include falling per capita consumption, a steady decrease in the number of industry operators and low technological development.
The proliferation of fast fashion and low-cost imported shoes has reduced per capita consumption of shoe repair services... purchase to read more