Like its apparel counterpart, the $250 billion footwear industry has dealt with plenty of headwinds stemming from both the COVID-19 pandemic and surging tariffs. But how can the industry rebound while trying to rescue falling bottom lines?
A new report from Sourcing Journal, sponsored by Tradewind Finance, Toray Performance Materials Corporation and the Footwear Distributors and Retailers of America (FDRA), includes insights on the state of the footwear industry, the ways to create resiliency in the market and the need for brands and retailers to continue their sustainability push despite the continued struggles seen throughout 2020.
With so many changes affecting the industry both throughout the pandemic and on the horizon, it’s clear footwear will need to divert from the traditional operations. Looking ahead, it seems likely that alternative materials, next-gen design tools, re-drawn sourcing maps, re-imagined production calendars and the adoption of health and wellness considerations will drive both innovation and margins.
Download the report to discover:
- What companies like Bearpaw, Rothy’s and Birkenstock see as the key takeaways from COVID-19
- The top future-facing footwear trends to watch out for
- How brands like Aldo, Vans, Adidas, Keds and Merrell are prioritizing environmental initiatives since the pandemic
- Steps needed to diversify sourcing away from China
- Why footwear manufacturing requires a bigger technology infusion
- The added burden of holding inventory over the long term
- How the industry is becoming more responsible when it comes to insoles, outsoles and everything in between