My sole: The increasing popularity of fast-fashion retailers will lead to revenue declines

Over the five years to 2017, revenue for the Shoe Repair industry has experienced healthy growth. However, the increasing popularity of fast-fashion retailers, which are stores such as Forever 21 and H&M that sell the latest runway styles at low prices, has pushed consumers to replace shoes rather than repair them, as footwear sold in these stores is too inexpensive and too fleetingly stylish to warrant repairs. However, over the five years to 2017, the national unemployment rate has drastically declined, which has caused some consumers to purchase luxury-brand, office-ready shoes that are more expensive to replace than repair...read more.

Industry Statistics & Market Size
Revenue
$380m
Annual Growth 12-17
1.9%
Forecast Growth 17-22
Profit
Employment
5,874
Businesses
4,169
Market Share of Companies
There are no companies with a dominant market share in this industry
What Our Customers Say

Industry Threats & Opportunities

  • The increasing popularity of fast-fashion retailers has pushed consumers to replace shoes rather than repair them
  • Industry revenue has benefited from a significant drop to the unemployment rate
  • Consumers are more likely to replace than repair low-cost imported shoes
  • Industry Report - Industry Locations Chapter

    As with most service industries, the geographic distribution of Shoe Repair industry establishments closely follows the geographic distribution of the population.The Mid-Atlantic and SoutheastThe Southeast and Mid-Atlantic regions have the largest concentrations of industry establishments, with 24.7% and 24.6% of shoe repair shops, respectively. Both regions also hold large percentages of the US population, with the Southeast representing the most concentrated area of the United States with 25.7% of the population and the Mid-Atlantic housing the third-largest concentration of residents at 15.2%. These regions are home to New York State and Florida, which represent the states with the first- and third-highest concentrations of industry establishments, at 15.5% a...purchase to read more.

    Additional Insights for the Shoe Repair Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Shoe Repair Industry are

  • Accessibility to consumers
  • Qualified work force
  • Having a loyal customer base
  • IBISWorld analysts also discuss how external factors such as Import penetration into the manufacturing sector and Households earning more than $100,000 in the Shoe Repair industry impact industry performance..

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    What is the Shoe Repair Industry?

    Companies in this industry repair footwear and other leather or leather-like goods, such as handbags, briefcases and saddlery. Companies that also retail such goods are included as part of the Handbag, Luggage and Accessory Stores industry (IBISWorld report 44833).

    Industry Products
  • Shoe repair services
  • All other repair and services
  • Merchandise sales
  • Industry Activities
  • Boot and shoe repair
  • Luggage and bag repair
  • Harness and saddlery repair
  • Leather goods repair
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Import penetration into the manufacturing sector
  • Households earning more than $100,000
  • Price of shoes
  • National unemployment rate

  • Current Performance
  • Increasing imports, faster fashion
  • Unemployment and demographic changes
  • Mail-in competition
  • Chart: Revenue Growth

  • Industry Outlook
  • Imported shoes on the rise
  • Profit
  • Table: Shoe Repair Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Shoe Repair Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Shoe Stores
  • Department Stores
  • Consumers

  • Key Selling Industries
  • Leather Good & Luggage Manufacturing
  • Leather Tanning & Finishing
  • Rubber Product Manufacturing
  • Shoe & Footwear Manufacturing

  • Products & Services
  • Shoe repair services
  • All other repair and services
  • Merchandise sales
  • Chart: Shoe Repair Industry Products and Services Segmentation

  • Demand Determinants
  • Price and quality of new footwear
  • Footwear styles
  • Consumer confidence and unemployment

  • Major Markets
  • Highest income quintile
  • Second-highest income quintile
  • Third-highest income quintile
  • Fourth-highest income quintile
  • Lowest income quintile
  • Chart: Major Market Segmentation for the Shoe Repair Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesRent and utilitiesDepreciationOther costs
  • Chart: Cost Structure Benchmarking – Sector vs Shoe Repair

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Shoe Repair Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Shoe Repair Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Shoe Repair Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Price of shoes (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Fast Fashion
  • Moderately priced clothing collections that are based on the latest runway trends.
  • Outsource
  • To procure goods or services under contract with an outside supplier.
  • Resoling
  • The process of replacing the soles of shoes.
  • Sole Press
  • This piece of equipment is used to drive nails into shoes.
  • Why buy this report?

    The Shoe Repair Industry Research Report measures market size, analyses current and future trends, and provides an indication of market share for the industry’s largest companies. IBISWorld’s collection of industry market research reports gives you insightful, up-to-date information on the supply chains, economic drivers, and key buyers and markets for hundreds of industries.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Shoe Repair:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Shoe Repair market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Shoe Repair, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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