Shoe Prices Saw Little Change in 2024, But Looming Tariff Hikes Could Dramatically Alter the Landscape

Shoe prices showed little movement in December, according to the latest data from the Footwear Distributors and Retailers of America (FDRA). Last month, retail footwear prices increased a scant 0.6 percent from a year ago, according to the FDRA. This came as higher prices for children’s shoes, up 2.5 percent, and women’s footwear, up 0.4 percent, were offset by a 0.2 percent decrease in men’s footwear prices in December. For the full year, the FDRA noted that footwear prices rose a modest 0.7 percent from 2023, the second straight year of little change.  Full-year prices similarly were little changed across segments, with men’s shoe prices increasing 2.0 percent and women’s footwear rising a scant 0.1 percent in 2024. Children’s footwear prices slipped 0.3 percent last year, only the second full-year decline in fourteen years for the segment, the FDRA noted. “We see this lack of price pressure for footwear owing to a combination of factors witnessed last year, from footwear imports growing faster than demand to lower average import costs to a stronger dollar,” Gary Raines, chief economist at FDRA, told FN. “Prospects for looming tariff hikes on footwear could dramatically skew this pattern, driving average duties per pair and average landed costs

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