The declines registered in sales of footwear during 2020 were deeper than those recorded in apparel as the COVID-19 pandemic took a heavier toll on demand for footwear than it did for most types of apparel. The most important factor contributing to the losses registered in footwear over the course of the year was the strict approach to social distancing and home seclusion taken among the Colombian population, with the government’s quarantine protocols under the auspices of its confinement regulations playing a major role.
A major factor to take into consideration when assessing the declines seen in sales of footwear over the course 2020 is that all of Colombia’s leading footwear manufacturers faced numerous challenges during the year as the COVID-19 pandemic caused interruptions to their production schedules and disrupted their supply chains. Many of the key suppliers of raw materials such as leather, rubber and synthetic textiles were forced to close down temporarily or at best significantly reduce the scope of their operations.
Sales of footwear are generally heavily reliant on physical stores and this is tied to the requirement for consumers to try shoes on before committing to a purchase so as to ensure the best fit. For this reason, the requirement for all non-essential retail stores to remain closed for a long period during 2020 as part of the official quarantine regulations that were enacted in response to the COVID-19 pandemic hit sales of footwear particularly hard.
The forecast period is expected to see sales of footwear recover quickly from the highly unfavourable performance registered in the category during 2020. The impact of the COVID-19 pandemic is expected to recede over the course of 2021 due to the positive impact of the efforts of the Colombian authorities to control the spread of the COVID-19 virus.
The experiences of the leading players in footwear during the COVID-19 pandemic in 2020 are likely to result in major changes being seen in the operations of manufacturers, importers and suppliers across the category during the forecast period. The challenges that were faced during the year are likely to motivate companies to review their strategies and make changes in an effort to adopt a new approach that will enable them to weather difficult times more effectively and remain competitive in a weakened market.
In line with the increasing focus on sustainable fashion across the global apparel footwear industry, the forecast period is expected to see the emergence of a wider range of ecological footwear in Colombia. This was already in evidence towards the end of the review period, specifically in adidas’ 2020 launch of its new eco-friendly and sustainable collection of sports-inspired footwear under the name Clean Classics.
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Understand the latest market trends and future growth opportunities for the Footwear industry in Colombia 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 Colombia, 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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