World Footwear survey concludes industry is optimistic

Published:  25 November, 2021

The most recent edition of the World Footwear Business Conditions Survey, conducted during the month of October, has assessed an “uplifting picture of recovery in the first semester of 2021”.

Reportedly, the latest projections of the International Monetary Fund and the World Bank estimate the strongest growth of the world's GDP of the last 80 years in 2021, though obstacles to vaccination and additional Covid-19 waves may create obstacles to a global economic recovery.

Most of the World Footwear panel members believe that, over the next six months, the quantity of footwear sold will increase along with prices, which is a positive evolution in comparison to the perspectives from some months ago. Most of the respondents also expect their businesses to have a strong health in the next months.

Asked about the evolution of footwear consumption in 2022, most panel members expect moderate growth (between 1.5% and 5%) compared with pre-pandemic levels. Should these forecasts prove accurate, footwear consumption will grow by 3.3% in Oceania, 3.2% in South America, 2.4% in Asia, but only 1.8% in Europe and 1.2% Africa, and fall 3.6% in North America, this year, on average. Half of the experts do not believe that the footwear business can achieve carbon neutrality by 2050.

World Footwear created the World Footwear' expert panel in 2019 and is now conducting a Business Conditions Survey every semester. The objective of the survey is to collect information regarding the current business conditions within the worldwide footwear markets and then to redistribute such information in a way it will provide an accurate overview of the situation of the global footwear industry.

The fifth edition of this online survey was conducted during the month of October 2021, obtaining 122 valid answers, 43% coming from Europe, 30% from Asia, 13% and 7% from North and South America, respectively, 6% from Africa and 1% from Oceania. Half of respondents are involved in footwear manufacturing (31%) or footwear trade and distribution (19%) and the other half in other footwear-related activities such as trade associations, consultancy, journalism etc.

For more information visit the World Footwear website.