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FDRA Survey Says: Higher Footwear Prices on Horizon

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Numerous factors are contributing to the likelihood of higher retail footwear prices in 2022. Those considerations include higher operating costs, port backlogs, the tight labor market, and projections of higher landed costs for footwear. Some 91 percent of respondents to the Footwear Distributors and Retailers of America (FDRA) Shoe Executive Business Outlook Survey for Q4 said they anticipate having to hike prices over the next six months. The trade group believes that sentiment will change if the Biden Administration eliminates 301 tariffs on shoes.

The latest FDRA survey found executives more pessimistic about the industry, despite 70 percent equaling or surpassing their pre-COVID sales marks. Only 24 percent of respondents expect a stronger or very strong outlook over the next six months. Expectations for H1/22 shoe sales growth dipped 20 percent from the same Q3 survey.

The top three biggest issues over the next six months, cited by shoe executives, are: production/supply chain costs, inventory and/or retail pricing and labor costs, quality, and shortages.

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Nov 24, 2021

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