The women's footwear market (size 4 and larger) in the US is expected to decrease gradually from 2024 through 2028, starting at $307.1 million and declining to $290.45 million. By 2023, the sales stood at $310 million indicating a subtle reduction initiated from 2024. This steady annual decrease reflects a negative year-on-year trend with an average drop of approximately 1.5% per annum. Over five years, this translates to a Compound Annual Growth Rate (CAGR) of -1.4% from 2024 through 2028.
Future trends to watch:
- Increase in online shopping channels reshaping traditional retail.
- Growing influence of sustainable and ethical production practices.
- Potential rebounds influenced by fashion cycles or demographic shifts.
- Impact of economic factors on consumer spending behavior in footwear.
