In 2023, household expenditure on men's shoes in Japan was expected to decline steadily from 3.26 thousand Japanese Yen in 2024 to 3.21 thousand Japanese Yen by 2028. The year-on-year variation was negative, reflecting a decreasing trend, albeit gradual, over the forecast period. This represents a consistent decrease across the years with an overall Compound Annual Growth Rate (CAGR) that demonstrates a slight decline over five years.
Future trends to watch include:
- Potential shifts in consumer preferences towards more sustainable or technologically advanced footwear, possibly altering spending patterns.
- Economic factors such as inflation, exchange rates, and income levels that might impact disposable income for non-essential goods.
- Demographic changes and an aging population that may reduce overall demand in the men's shoe market.
