If you think inflation means stores are dropping prices to win consumers back, think again. One of America's historic footwear giant is actually betting on higher-priced products, and closing stores at your local malls.
The way we buy shoes has radically transformed. Stiff dress shoes have been replaced by versatile comfort, according to the US Men's and Women's Footwear Market Report. But keeping up with changing fashion trends is no longer the hardest part of the game.
Today, legacy retailers face intense pressure from tariffs, inflation, and shifting consumer preferences. As McKinsey and Company's The State of Fashion 2026 report notes, new US tariffs have completely "redrawn trade maps," forcing brands to rapidly reconstruct supply chains on the fly.
Americans spent $121 billion on footwear last year, importing six pairs of shoes per person, according to the FDRA. Yet one of the country's biggest shoe retailers, Caleres, the powerhouse behind Famous Footwear, Sam Edelman, and Stuart Weitzman, says its affordable business is slowing while demand for premium brands surges.
Inflation-pressured consumers are dropping mall impulse buys to prioritize personal well-being, health, and longevity, according to McKinsey. This shift is prompting many footwear retailers to rethink both store fleets and product strategies.
The way we buy shoes has radically transformed. Stiff dress shoes have been replaced by versatile comfort, according to the US Men's and Women's Footwear Market Report. But keeping up with changing fashion trends is no longer the hardest part of the game.
Today, legacy retailers face intense pressure from tariffs, inflation, and shifting consumer preferences. As McKinsey and Company's The State of Fashion 2026 report notes, new US tariffs have completely "redrawn trade maps," forcing brands to rapidly reconstruct supply chains on the fly.
Americans spent $121 billion on footwear last year, importing six pairs of shoes per person, according to the FDRA. Yet one of the country's biggest shoe retailers, Caleres, the powerhouse behind Famous Footwear, Sam Edelman, and Stuart Weitzman, says its affordable business is slowing while demand for premium brands surges.
Inflation-pressured consumers are dropping mall impulse buys to prioritize personal well-being, health, and longevity, according to McKinsey. This shift is prompting many footwear retailers to rethink both store fleets and product strategies.
5 months ago
