Venezuela sees significant drop in shoe consumption
03/01/2018
Speaking at the end of December, Mr Pissella said despite the industry’s best efforts it had been unable to “escape inflation”. It means 2017 ended “in a worrying way”, he explained, with Venezuela’s per capita footwear consumption down to 0.9 units.
Mr Pissella added that the situation is likely to get worse in 2018 as the country’s high inflation rate begins to affect the inventories of store. He revealed that footwear stores looking to increase their inventory need to sell four pairs of shoes before they can purchase one pair. This means stores have a much smaller selection of products on sale.
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