Shoe Prices Rose Slightly in October, But Kids’ Footwear Likely to Decline Overall in 2024

Shoe prices rose slightly in October from a year ago, according to the latest data from the Footwear Distributors and Retailers of America (FDRA).

Last month, retail footwear prices rebounded in step with the slight uptick in overall inflation. According to the FDRA, overall shoe prices climbed 0.8 percent in October from a year ago.

This modest gain came as higher year-over-year prices for men’s footwear, up 2.8 percent, and boys’ and girls’ footwear, up 1.6 percent, offset lower prices for women’s shoes, down 1.2 percent, the FDRA said. 

“In particular, prices for children’s footwear rose for the first time in eight months and the fastest in a year and a half, stretching to a seasonally adjusted record high in October,” Gary Raines, chief economist at FDRA, told FN. “Despite the October reading, we still look for children’s footwear prices to sink in 2024. Albeit moderately, this reverses three straight years of gains, likely to be only the second annual decline in the last fourteen years for children’s footwear prices.”

“Arriving almost on cue, today’s inflation numbers remind us that higher prices in our industry are annoying persistent,” Steve Lamar, president and chief executive officer of the American Apparel & Footwear Association (AAFA), added. “Sadly, consumers in the future may soon be longing for these relatively high numbers. As proposed, massive tariffs could jack these prices up much further since tariffs are ultimately passed along to U.S. consumers in the form of higher prices. Already, U.S. footwear importers pay 4.5 times the average duty-rate paid on most other U.S. imports. Tariffs threats on consumer products – although never in fashion – are now trending.”

October’s movement in footwear prices comes at the same time the Bureau of Labor Statistics reported that overall inflation was in line with Wall Steet expectations.

The bureau’s latest Consumer Price Index (CPI), a broad measure of goods and services costs across the U.S. economy, saw prices increase 0.2 percent on a seasonally adjusted basis, remaining unchanged from July. Prices were also up 2.6 percent over the last 12 months.

Excluding volatile food and energy costs, the core CPI rose 0.3 percent in October, as it did in August and September, and increased 3.3 percent over the same time last year.

The index for shelter rose 0/4 percent in October, accounting for over half of the monthly all items increase. In addition to shelter, prices for food, used cars and trucks, airline fares, medical care, and recreation also rose last month. The indexes for apparel, communication, and household furnishings and operations were among those that decreased over the month.

This news comes one week after Donald Trump’s tariff policies became an increasing concern once he won reelection for the U.S. presidency. A new study from the National Retail Federation (NRF) issued last week, found that if implemented, Trump’s tariffs could cost U.S. consumers between $46 billion and $78 billion each year.

Within footwear in particular, the study found that U.S. consumers could pay between $6.4 billion to $10.7 billion more for footwear a year. For example, the study revealed that a $50 pair of sneakers could rise to between $59 and $64 dollars.

Shoe industry trade groups have been vocal about the adverse effects that tariffs bring to consumers. In September, a survey from FDRA found that tariffs and trade policy were top of mind for U.S. shoe executives in the third quarter.

“Our Q3 Shoe Executive Survey reflects both the optimism and the challenges facing the footwear industry,” said FDRA president and chief executive officer Matt Priest in a statement in September. “With trade policy looming large in a presidential election year and consumer behavior constantly evolving, our members are prepared to navigate these uncertainties. FDRA will continue to provide the tools and insights they need to succeed.”