Industry Analysis & Industry Trends
Shoe & Footwear Manufacturing Industry revenue has increased every year since 2010 and is expected to continue growing in 2014. The industry's recovery was aided by improving downstream demand, a slowdown in import penetration into the manufacturing sector and significant decreases in the price of rubber, which rose a staggeringly in 2011. Over this period, a tremendous increase in exports spurred revenue growth. New legislation is being proposed that could possibly benefit the industry greatly. IBISWorld expects industry revenue to decline over the five years to 2019. The increasing value of imports and a significant decrease in exports in the latter part of the five-year period will fuel this decline... purchase to read more
Industry Report - Industry Analysis Chapter
The Shoe and Footwear Manufacturing industry was in decline prior to the five years to 2014. Operators offshored much of their production activity to low-cost markets such as China, Vietnam and Indonesia; consequently, cheap imports currently account for an estimated 94.3% of domestic demand for footwear. Operational restructuring was the first blow to the industry, while the recession exacerbated negative trends. Skyrocketing unemployment caused incomes to decrease and consumer sentiment plummeted. As a result, demand for discretionary products, such as shoes, drastically declined, causing industry revenue to fall.
Nevertheless, an improvement in the overall condition of the economy has helped this industry make a marginal recovery over the past five years... purchase to read more