The Footwear Distributors and Retailers of America (FDRA) have released a list of the top seven footwear trends affecting the industry including growth in the American market but deflation in retail prices.
1. FDRA’s monthly retail data report found that consumer spending has increased by 2.97% in the U.S. since last year. That’s a total of $76.9 billion.
2. Women’s footwear prices have under-performed for the sixth time in the last eight month this September. The September decrease only furthers the erosion of footwear prices for women. The FDRA predicts shoppers will see lower prices by the holiday season.
3. As a result of high inventory levels and continued price deflation in retail, year-to-date footwear shipments have decreased in dollars by 6.7% and in shipment of pairs by 6.6%.
4. Total footwear imports show China still as the dominate supplier for the U.S., but the volume has decreased to 73.3% and the dollar share has decreased to 58.8%. FDRA says China is on track to fade to the lowest annual share in 19 years.
5. Container shipment costs are currently low, despite the surprise bankruptcy announcement of Hanjin Shipping. Container shipment costs are expected to be their lowest in more than three years possibly because of the global surplus of available ships.
6. FDRA predicts that footwear sales in the E.U. will be flat this year with a 0.5% growth compared to a 2.5% growth last year.
7. FDRA’s shoe store employment report showed that the national average in the U.S. for wages has jumped to a record of $17.64 per hour. There are now 212,500 retail shoe store workers nationwide.