After record unit growth in 2022 of approximately 30% year-over-year to nearly 2.75 billion pairs, U.S. footwear imports are expected to plunge this year as the industry adjusts bloated inventory levels downward and establishes order levels for new products starting in Spring 2024. But how much new footwear volume will be created next year remains to be determined.

Current market conditions, which have been ongoing for months, have disrupted production team schedules in Asian markets and have U.S. industry players concerned that a softer U.S. economy will weigh on H2 demand and ... Log in to view full article.