Footwear Market & Covid19

The very latest survey of "World Footwear" emphasizes two essential consequences: - On a short term, a drastic fall in consumption of footwear in 2020, in volume this will be 4 billions pairs lost ! This is of course a huge crisis for the international shoe brands. This will be also a dramatic situation for the workers in China, Vietnam and Indonesia, who will be out of job and for a majority without any resource. - On a long term, a change in the sourcing areas which will impact the Asian factories. Every market players, buyers and sellers, must integrate this development into their recovery plans.

https://lnkd.in/gYEUmfi

"... our panel members, on average, are forecasting a 22.5% reduction, with some regional variation. Should these forecasts prove accurate, footwear consumption this year will fall by 696 million pairs in North America, 908 million in Europe, and 2.4 billion in Asia. Most respondents also believe the epidemic will have lasting consequences for the location of footwear production with firms diversifying their sourcing among multiple countries, to reduce risk, or bringing production closer to the consumer markets."

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