In 2023, the household expenditure on footwear in the UK stood at €13.5 billion. The forecasts from 2024 to 2028 show a steady increase in spending, starting at €13.81 billion in 2024 and reaching €14.87 billion by 2028. The year-on-year variations indicate a consistent growth pattern: 2.02% from 2024 to 2025, 1.85% from 2025 to 2026, 1.81% from 2026 to 2027, and 1.78% from 2027 to 2028. The compound annual growth rate (CAGR) over the five-year period is approximately 1.68%.
Future trends to watch for:
- Changes in consumer behavior due to economic conditions.
- Impact of sustainability and eco-friendly products on consumer choices.
- Technological advancements in footwear manufacturing leading to innovative products.
- Potential disruptions from global supply chain issues.
