In 2018 and for the third year in a row, retail volume sales of footwear declined significantly. There are several reasons for the declining sales, highlighting the strong contraction in real wages and the increase in unemployment.
During 2018, and mainly during the second semester, a large number of promotions and discounts were registered to try to lessen the fall in sales, basically in chains such as Dexter or Dash that have a wide variety of brands. Even the price increases of footwear in 2018 were far below the general inflation, so that in relative terms they were transformed into products that were more economical.
Internet retailing saw the fastest retail value growth in 2018 and has the best outlook for the forecast period. The strong development of the channel is due to several reasons.
Alpargatas is experiencing serious problems due to the sharp fall in sales and the growing competition of imported products. Under this scenario, in 2018 the company decided to sell the Topper brand to the Brazilian Carlos Wizard Martins; Topper is a brand that the businessman already manages in Brazil.
In mid-2018, adidas Argentina decided to close down its industrial plant located in the province of Buenos Aires. The plant had been inaugurated in 2011 when it was practically impossible to import merchandise due to the import restrictions imposed by the government of Cristina Kirchner.
At the beginning of 2018, the outlook for the economy was promising and the arrival of new brands and the opening of exclusive stores were expected. However, in April the economy went into a depression due to the strong devaluation of the exchange rate and many companies decided to postpone their investments in the country.
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Discover the latest market trends and uncover sources of future market growth for the Footwear industry in Argentina with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Apparel and Footwear market research database.