Footwear Resilient to Economic Hardships
Footwear has historically performed better than apparel during the global recession indicating footwear’s resiliency during economic hardship. Consumers view footwear as an investment compared to apparel as shoes are worn more often than clothing and consumers are willing to pay a higher price for quality shoes. In 2014, Euromonitor expects a healthy 6.5 percent growth in footwear.
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