Online dynamics slowed down according to study by IFH and BBE
Consumer sentiment in Germany remains subdued. This is also evident in the shoe market, where the gap between private consumer spending and spending on shoes is increasing as consumer prices rise. Total sales of shoes last year reached a market volume of 2023 billion euros in 9,6, which corresponds to an increase of 3,8 percent in the previous year. The new “Shoe Industry Report 2024” from IFH Cologne in collaboration with BBE Handelsberatung comes to these and other results.
The majority of sales in the shoe market in 2023 will come from stationary chain stores with a share of 48 percent. While online retail is growing again in other sectors, the market share of digital sales channels in the shoe trade is currently still slowed down. Online trading totaled 2023 percent in 35.
Market researchers expect steady, slow growth for the overall shoes market. According to the projections from April 2019, the pre-crisis level of 9,9 of 2024 billion euros will not be reached again until next year 2025. The stationary catch-up effects will level off again in the coming years and online retail will gain market share again.
“The stationary catch-up effects in the shoe market are still continuing and we can see that stationary specialist retailers are still functioning with expert advice! Retailers should now take advantage of this general customer interest and offer added value through attractive services - for example click and collect - and thus make themselves strong for the future. Because online trading is picking up speed again,” pleads Carina Stäbisch, project manager at the IFH Cologne.
