7 shoe retailers in need of intensive care, plus 1 on the road to recovery

by MR Magazine Staff

Americans aren’t buying shoes like they used to and when they make those new purchases, they are turning more often online. That is the conclusion I draw from comparative data provided by the government. After increasing expenditures on shoes in excess of 4.5% year-over-year from 2010-2016, Americans spent only 1% more in 2017 on shoes, or $80.2 billion, according to the Bureau of Economic Analysis personal consumption data. And at retail, sales in shoe stores declined 1.1% for the first 11 months of 2017 as compared to same period 2016, as reported by the Census Department’s Annual Retail Trade Survey, which will be updated mid-February with full year reporting. It is unlikely, however, that December’s shoe store sales are going to pull the category out of its year-long slump. Read more at Forbes.