Industry revenue of »retail sale of footwear and leather goods« in Norway 2011-2023

Industry revenue of »retail sale of footwear and leather goods« in Norway from 2011 to 2023 (in million U.S. Dollars)

by Philipp Huhn, last edited Sep 19, 2019
Industry revenue of »retail sale of footwear and leather goods« in Norway 2011-2023 The retail sales of footwear in Norway demonstrated a significant decline between 2011 and 2016 following the adverse market conditions due to an economic slowdown in the European region. According to estimates by Statista based on data from Eurostat, the next few years are expected to witness gradual decline with revenues reaching a value of 496.6 million U.S. Dollars by 2023.

Most of the demand met through imports

Norway has a very small domestic footwear manufacturing industry with less than ten manufacturers. The revenues from footwear manufacturing also witnessed a strong decline in the last ten years to reach 26 million Norwegian crowns in 2017 from 200 million Norwegian crowns in 2007. Most of the demand is met through imports which increased by around seventy percent in the last ten years. Nearly ten fifty percent of the shoes imported in 2018 were from China and Vietnam.

Online sales are growing

Consumers are gradually preferring to purchase shoes online, which accounted for around fifteen percent in 2017. According to a survey by Kantar Sifo in 2018, footwear/clothing was the leading product category among online shoppers in Norway.

Demand for luxury footwear is on the rise

Demand for luxury footwear has been on the rise over the last few years, with the market accounting for around one fifth of the total revenue from retail sales of footwear in 2018. LVMH is expected to lead the market in 2019, with its products estimated to account for 22% of the total luxury footwear market in the country.
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Industry revenue of »retail sale of footwear and leather goods« in Norway from 2011 to 2023 (in million U.S. Dollars)

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