Source: CNBC
Summary
Shoe prices are expected to rise due to increased production costs and supply chain issues. As a result, consumers may be deterred from purchasing shoes, especially if economic conditions worsen. According to a report, shoe prices could increase by 10% to 15% in the coming months.
Our Reading
The trend returns with a new name. Higher prices are nothing new in fashion, but the timing is notable. Luxury brands have been raising prices for years, while fast fashion has managed to keep costs low. The middle market is now feeling the squeeze. As consumers tighten their belts, shoe prices may become a luxury few can afford. The look feels like 2008 all over again.
Author: Evan Null
