Shoe Repair in the US - Industry Market Research Report
Description
Shoe Repair in the US
The shoe repair industry comprises operators that repair footwear made of leather or rubber soles and other leather or leather-like goods. For decades, low-cost imported shoes combined with highly personalized marketing from fast-fashion retailers have encouraged consumers to purchase new shoes in place of repairing old ones, thus reducing demand for industry services. As a result, this movement toward online outlets to minimize costs has encouraged many operators to close up shop altogether, with the remaining players adapting to changing demand conditions. In addition, formal workplace attire has continued to lose popularity. It has shifted towards more casual styles, placing further pressure on the industry. Revenue is expected to decline at a CAGR of 6.1% to $286.4 million in 2023, including an anticipated recovery of 2.2% in 2023 following sharp declines experienced during the pandemic.
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 in 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.
The shoe repair industry comprises operators that repair footwear made of leather or rubber soles and other leather or leather-like goods. For decades, low-cost imported shoes combined with highly personalized marketing from fast-fashion retailers have encouraged consumers to purchase new shoes in place of repairing old ones, thus reducing demand for industry services. As a result, this movement toward online outlets to minimize costs has encouraged many operators to close up shop altogether, with the remaining players adapting to changing demand conditions. In addition, formal workplace attire has continued to lose popularity. It has shifted towards more casual styles, placing further pressure on the industry. Revenue is expected to decline at a CAGR of 6.1% to $286.4 million in 2023, including an anticipated recovery of 2.2% in 2023 following sharp declines experienced during the pandemic.
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 in 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.
Table of Contents
37 Pages
- ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
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Pricing
Currency Rates
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