The turnover in the UK footwear sector has displayed a varied pattern from 2013 to 2023. Starting from £402.3M in 2013, it witnessed fluctuations, peaking at £730.7M in 2019 before slightly declining and then recovering to £765.1M by 2023.
Key trends include:
- 2013-2019: Notable fluctuations with substantial growth in 2014 (23.32%) and a peak in 2019 (45.82% YoY increase).
- 2020-2023: A recovery phase post-2020's decline during the pandemic, with steady year-on-year growth (3.13% in 2023).
Future Trends:
- Forecasts indicate a sustained growth at a moderate pace with a 5-year CAGR of 2.32%, leading to an expected turnover of £886.7M by 2028.
- Economic factors, shifting consumer preferences, and retail innovations will be crucial in shaping future dynamics.
