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Learn moreFeb 2021
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Colombia’s apparel and footwear industry faced a bleak year during 2020 as the COVID-19 pandemic and the official response to it caused major disruption in production supply chains and manufacturing operations as well as wholesale supply chains and retailing operations. At the same time, the major changes seen in Colombian society and consumer behaviour during the year foreshadowed significant albeit temporary shifts in purchasing patterns, which forced manufacturers, brand owners and retailers to rethink their strategies quickly in order to mitigate risk and avoid losses.
While restrictions were lifted in many places during early summer 2020, a nationwide stay-at-home order remained in effect in Colombia several months after first being implemented. The country’s 6-month lockdown has been devastating on many levels, and frustrated citizens have turned to violence, with attacks on medical professionals not uncommon.
The announcement that the COVID-19 pandemic har reached Colombia during the first quarter of 2020 motivated the leading local manufacturers of apparel and footwear to reassess their operations, focusing on viability in the face of emerging challenges and the inevitable drop in demand. Among the initial reactions of many local apparel companies was to convert their manufacturing operations to the production of protective garments, including notably hygienic face masks.
As noted above, the requirement for non-essential retail outlets to either remain closed or operate at reduced capacity due to the imposition of strict quarantine regulations and adherence to social distancing protocols was one of the most important changes that apparel and footwear companies were forced to adapt to due to the COVID-19 pandemic during 2020. With apparel and footwear specialist retailers unavailable to much of the population for an extended period during the year, e-commerce naturally benefited, with a huge shift towards online sales seen across all categories of apparel and footwear as the pandemic situation unfolded over the course of the year.
Apparel and footwear is expected to register strong positive sales growth over the forecast period, with most categories expected to return to pre-COVID-19 sales levels by 2024 at the latest. However, growth rates are expected to pick up only slowly during 2021 and 2022 due to the unfavourable economic situation that unfolded over the course of 2020, which is set to continue placing pressure on household incomes, resulting in reduced spending power and lower levels of consumer confidence.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Apparel and Footwear industry in Colombia with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Apparel and Footwear industry in Colombia, our research will save you time and money while empowering you to make informed, profitable decisions.
The Apparel and Footwear in Colombia market research report includes:
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This industry report originates from Passport, our Clothing and Footwear market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.