It’s no surprise that today’s retail scene is tough, but apparel companies are turning to another key wardrobe item to stay competitive: shoes.
Footwear retail sales are currently outpacing apparel. According to a Euromonitor report, footwear has grown at a compound annual growth rate (CAGR) of 6 percent in the 2010 to 2015 period, compared to 4 percent for apparel.
Another report, by TechNavio Infiniti Research Ltd., said the global footwear market is projected to reach $216 billion by the end of 2019.
Read more at Sourcing Journal.