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Also, substantial fiscal stimulus has bolstered consumer spending significantly. And because retailers are launching new products and diversifying their portfolios to capitalize on the pent-up demand and consumers’ changing taste and shopping preferences, the retail industry is expected to get a much-needed boost.
As people increasingly leave their homes and participate more in outdoor fitness and sports activities, footwear retailers (among others) are witnessing a rise in demand. Indeed, the global athletic footwear market is projected to grow at a 4.6% CAGR between 2021 – 2026.
