In 2020, sales of footwear registered a strong decrease due to the onset of the COVID-19 pandemic. This came on the back of considerably reduced sales in 2019 due to the country’s economic crisis.
Consumers looked for comfortable footwear in 2020 as they had to spend so much time at home. This also led to a continuation of demand for sports footwear which was to the detriment of dress shoes.
E-commerce witnessed strong growth during 2020 due to the pandemic. According to industry sources, the percentage of e-commerce sales of several retailers such as Dexter and Stock Center doubled during 2020.
During 2020, the Secretary of Commerce established restrictions on imports as a consequence of the pandemic, which meant companies only imported high-end footwear in order to improve their profit margins and profitability. According to industry sources, the supply of footwear is likely to be a significant issue over the forecast period, with companies expecting import barriers to continue, at least in the short term.
In 2020, leading company Nike announced important changes to its operations in Argentina. The company is leaving the country, with Mexican Group Axo taking over control of sales and distribution from September 2020.
After facing financial difficulties for several years prior to the pandemic, Grimoldi SA’s situation became critical in 2020. Its main problems are high debt in foreign currency combined with the continuous devaluation of the Argentine peso.
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Understand the latest market trends and future growth opportunities for the Footwear industry in Argentina with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Footwear industry in Argentina, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Footwear research and analysis database.
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