Global shoe market to lose 5 billion pairs in 2020
The global footwear market is on track to register a 22% decline in 2020, according to the chief executive of footwear technology provider Desma, Christian Decker.
Speaking on November 23 at an online event called Safety Footwear Revolution Week, Mr Decker said lower retail activity as a result of covid-19 had led to a substantial step down from 2019 figures, when the global shoe market reached almost 22.75 billion pairs. His figures suggested a fall of 22% of this total, or 5 billion pairs, taking the market back to the levels of 10 or even 15 years ago.
Mr Decker said that one of the changes that will drive an increase in value in the footwear market in the years ahead would be customisation. He said he lacked confidence that consumers would be willing to pay more for locally made shoes or for shoes with good sustainability credentials, but he said being able to customise shoes to suit the precise requirements of buyers would bring a boost.
“This would maybe add 10% to the total production cost,” he explained, “but in return manufacturers would see an increase of between 30% and 60%, depending on the kind of customisation they can offer.”
