Italy footwear market revenue has remained static in an apparel industry which has reported a 13% fall in average monthly consumer spend
Footwear in Italy - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-20 11:41:02
The performance recorded in footwear in Italy during 2012 can be considered relatively positive as the category recorded static current value growth, avoiding slipping into decline in spite of the very difficult economic situation in Italy. Women´s footwear remains the leading footwear category in Italy. However, Italian men are becoming increasingly conscious of their lifestyles and how they dress.
Italy´s severe economic recession has had a major negative impact on apparel sales in Italy with a strong decline in domestic sales and consumption during the period 2008 to 2012. High unemployment coupled with a rise in VAT from 21% to 22% and low consumer confidence has plagued the Italian apparel market over recent years.
On average, it is estimated by ISTAT that Italians spend on average EUR142 per month on apparel, a figure which has declined to EUR126 per month by the end of 2012. This represents a drop of 13% in terms of average expenditure on apparel in Italy. Reduced household spending power has an impact across all industries and apparel retail shops are changing their stock to cater for more low priced fashionable apparel to cater for this reduced spending power. In addition, retailers are extending their discount periods and also providing more promotions.
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