Footwear prices in the United States rose modestly in October, marking a 0.8 per cent year-over-year increase, according to data from the Footwear Distributors and Retailers of America (FDRA). The increase was led by men’s footwear, which saw a 2.8 per cent hike, while boys’ and girls’ footwear followed with a 1.6 per cent rise. However, women’s footwear prices dropped by 1.2 per cent, deviating from the broader trend.
Children’s footwear prices experienced their fastest growth in 18 months, reaching a seasonally adjusted record high. Despite this spike, FDRA’s Chief Economist Gary Raines predicts a moderate decline in children’s footwear prices in 2024, reversing three consecutive years of gains.
The Bureau of Labor Statistics’ Consumer Price Index (CPI) recorded a 0.2 per cent monthly rise in overall inflation for October, with core CPI—excluding food and energy—showing a 3.3 per cent year-over-year increase. While inflation has stabilised since July, the footwear industry faces ongoing pricing pressures.
Industry leaders, including Steve Lamar, CEO of the American Apparel & Footwear Association, have voiced concerns over the impact of tariffs on US footwear importers. Lamar warned that proposed tariff hikes could further strain household budgets and reduce consumer demand.
These trends highlight the challenges posed by inflation, tariffs, and broader economic uncertainty, which continue to shape the US footwear market.
