Footwear Insight

14 • Footwear Insight ~ May/June 2024 footwearinsight.com CHECKING THE INDUSTRY'S PULSE Best-Made Shoes, Pittsburgh, PA. Golden Shoes, Traverse City, MI. Brown's Shoe Fit Co, Ft. Collins, Colorado. Reyers Shoe Store, Niles, OH. By Bob McGee F rom an optimist's point of view, the footwear industry has turned the proverbial corner and is headed for a rebound in the second half of 2024 and into 2025. is perspective is supported by the segment's first non-declining sales quarter in two years, per data from Circana, and contracting inventory levels that have been bloated since post-pandemic. A pessimist has a different outlook. It is one tied to an uncertain macroeconomic environment fueled by persistent inflation, high interest rates, ongoing global conflicts and an uncertain political outcome in the U.S this fall. is outlook suggests inventory levels need to be lower because consumers are buying fewer units but are willing to shell out more for what they want. In Q1 of this year, aggregate leisure and performance footwear sales each rose by 1 percent to $4.4 billion and $1.8 billion, respectively, according to Circana point-of-sale data. e fashion segment, meanwhile, suffered a 2 percent year-over-year sales drop to $2.8 billion. "e bright spots continue to reflect consumer preferences for comfort and versatility, across both fashion and athletic footwear," the research firm said. Footwear Insight reached out to some independent retailers for their thoughts on what's driving and not driving the business as it heads into the summer and Back-To-School seasons. Here's what they had to say. SHOP TALK How would you describe business so far this year compared to a year ago? Any big surprises? What is going well? "e customers' confidence has improved. And they are dressing up a little more. e athleisure category in ladies continues to grow," said Greg Augustine at Brown's Shoe Fit Co., Ft. Collins, CO. "Business this spring started early for us due to warm weather early," commented Bill Golden at Golden Shoes, Traverse City, MI. "Sandals especially started to sell earlier than usual. But athleisure is still the hottest category. e customer is spending a lot more this year as our average sale is up." "Business this year is up from last year," opined Marc Rosen of Best-Made Shoes, Pittsburgh, PA. "(Our) 2024 total business is pretty flat so far. No surprise," offered Mark Jubelirer of Reyers Shoe Store, Niles, OH. Are there any brands, styles or categories you would highlight as doing particularly well for your store right now? "On is still the brand that is very strong for us. It is our top four selling shoes in both men's and women's. Gabor has also been selling very well this spring," said Golden. "Strong brands have been Birkenstock, New Balance and Alegria. Consumer confidence is strong with people spending on Classics and good walking and running shoes," offered Rosen. "Johnston & Murphy business casuals

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