Retailers and shoe brands can blame tariff-induced price hikes for a potential decline in footwear spending as they look ahead to the 2025 holiday season.

That’s according to PwC’s 2025 Holiday Outlook survey. The consultancy firm is projecting a 7 percent to 10 percent decline in year-over-year shoe purchases. While sticker shock is driving the estimated decline, fewer new customers and smaller orders by large merchants are also fueling the sales pullback.

In general, PwC’s analysis is suggesting an overall decline of 4 percent on footwear spend in 2025. Deeper declines are expected for back-to-school (down 8 percent), followed by a 10 percent spending decrease in the shoe category for holiday . But there’s also a note of caution to keep in mind — the survey was conducted in Jun

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