Recent survey data from the British market research company Euromonitor shows that the Brazilian apparel and footwear market sales in 2020 will be approximately US$20.7 billion, a decrease of 24%, which is higher than the global average (-17.3 %). It is estimated that the Brazilian market in this industry will not return to the 2019 sales level, which is US$27.4 billion, until 2023 at the earliest.
The survey results show that the Brazilian footwear market fell by 27.6% in 2020, which is higher than the 23% decline of apparel. In the early days of the pandemic, the market forecast for this industry was more pessimistic. The market was originally predicted to develop in an L-shaped manner, but now it is estimated that the recovery curve may be V-shaped.
