Shoe Repair in the US
Over the five years to 2017, revenue for the Shoe Repair industry has experienced healthy growth. However, the increasing popularity of fast-fashion retailers, which are stores such as Forever 21 and H&M that sell the latest runway styles at low prices, has pushed consumers to replace shoes rather than repair them, as footwear sold in these stores is too inexpensive and too fleetingly stylish to warrant repairs. However, over the five years to 2017, the national unemployment rate has drastically declined, which has caused some consumers to purchase luxury-brand, office-ready shoes that are more expensive to replace than repair. Despite the growth exhibited over the five years to 2017, industry demand will contract slightly over the five years to 2022, which falls in line with the industry's declining life cycle stage. Over the next five years, import penetration into the manufacturing sector will increase, which will encourage consumers to buy low-cost imported footwear.
Companies in this industry repair footwear and other leather or leather-like goods, such as handbags, briefcases and saddlery. Companies that also retail such goods are included as part of the Handbag, Luggage and Accessory Stores industry (IBISWorld report 44833).
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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