Shoe Stores in the US - Industry Market Research Report

Shoe Stores in the US - Industry Market Research Report
Shoe Stores in the US

Shoe stores rely on strong consumer spending to spur demand for industry products. The economy has strengthened during some of the five years to 2023, prior to the outbreak of COVID-19. The strong economy and spending habits did not necessarily benefit industry participants due to changing consumer shopping habits, as more shoe purchases occurred at department stores. The industry contracted in 2020, likely due to the temporary closure of many industry establishments. In the current year, increased disposable income and e-commerce sales are expected to contribute to a growth of 0.5% in 2023. Industry revenue is estimated to increase at an CAGR of 0.7% to $61.1 billion over the five years to 2023.

Retailing footwear is the primary function of this industry. The sale of footwear usually involves purchasing footwear from wholesalers and selling it directly to customers. Hosiery and sports footwear, such as golf shoes, bowling shoes and cleats, are excluded from this industry, as are any sales made via catalogs or the internet.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.