Industry Analysis & Industry Trends
Over the next five years, operators in the Shoe and Footwear Manufacturing industry will continue to feel the heat from imports. Shoe manufacturers are increasingly offshoring their production to lower-cost countries, and cheap imports will satisfy a growing proportion of domestic demand. As a result, any gains in revenue will be marginal. To stay afloat, operators will establish their presence in niche markets and continue to consolidate operations... 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 94.2% 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