Because the Shoe Repair industry is generally countercyclical, business performed well during the recession as people opted to repair their shoes instead of buy new ones. This trend is expected to hold through 2014; however, as the economy continues to strengthen, consumers will return to buying new shoes, especially as the average price of shoes continues to decline. Fast-fashion trends and low-priced imports will also hamper demand for repairs. In response, shops will focus on high-income customers with high-end shoes.
Companies in this industry repair footwear and other leather or leather-like goods, such as handbags, briefcases and saddlery. Companies that retail leather goods and also provide repair services are not included in this industry; these retailers are included in the Handbag, Luggage and Accessory Stores industry (IBISWorld report 44833).
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.