Why sneaker prices are at a 40-year high, with one economist comparing them to an 'erratic' EKG
"Footwear shoppers are having to spend more money but buying relatively fewer pairs," Raines told Insider.
But as pandemic restrictions end and factories, offices, malls, and restaurants spring back, footwear prices are returning to a more historical rate of increase."We're kind of on the tail end," Raines said."We're seeing year-over-year increases in footwear moderating. They're still high. But they're not nearly as high as they have been."
For buyers, that's good news. Shoes won't go up in price as much next year. But that also means sellers will have less pricing power. Many sneaker companies are sitting on large amounts of footwear and apparel. As supply chains untangle, overdue shipments are flooding storage rooms. "How they clear inventory is going to be critical," Poonam Goyal, senior e-commerce and athleisure analyst for Bloomberg Intelligence, told Insider as part of her
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