Footwear remains one of the most beloved items Americans purchase. In 2020, the U.S. imported 5.7 pairs of shoes for every man, woman, and child in the country, and annual sales topped $76.9 billion. Footwear retail has changed dramatically from where shoes are sold to the styles and trends consumers are looking to buy. Footwear companies invest tens of millions of dollars each year in their people, stores, and platforms to ensure they deliver high-quality shoes in a timely manner—in fact, footwear has one of the most robust supply chains in the world.
The industry is currently facing retail challenges like other industries: how to adapt to rapid consumer demand shifts from the pandemic, discounting, and how to develop and implement speed to market strategies. Amid all the changes, footwear retailers continue to survive through the use of innovative and robust strategies both online and in shoe stores. If you love shoes, we encourage you to listen to our weekly podcast where we cover footwear retail topics, issues, and best practices to help retailers. We also encourage you to view our Shoeconomy website dedicated to telling the footwear industry’s story and contact FDRA if you seek more insights on footwear retail.