Shoe Stores See Foot Traffic Spike As Tariff Fears Hit Consumers, New Data Shows
Worried about shoe prices going up in the wake of tariff increases, consumers are stockpiling goods including their footwear.
For the week ended April 13, footfall at shoe stores saw a robust 4.03 percent gain. That’s compared with a 4.78 percent gain in apparel stores and a 22.94 percent spike at specialty food stores, where the assortment mixes include a higher rate of imported items.
“This isn’t just about inflation anymore—consumers are clearly reacting to tariff headlines by buying what they fear will soon become more expensive or harder to find,” James Ewen, vice president of marketing at AI-powered market intelligence firm Pass_by, said in a statement. “It’s rare to see such coordinated spikes across essentials, apparel, and specialty food in one week.”
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According to Ewen, Pass_by’s real-time analytics indicate a shift in the consumer mindset as they begin making tactical shopping decisions based on expected price increases by stocking up now before the new duties hit the store shelves. He said that consumers last month have been “rushing to ‘lock-in’ pre-tariff prices” for goods imported from overseas.
Foot traffic at shoe stores have been up and down since mid-March, up 4.36 percent for the week ended March 23 and dropping a week later to down 9.49 percent, before rising again.
Pass_by said analysts noted that some consumers pulled ahead their shopping plans, buying items they thought were at risk of tariff hikes. While they saw little need to shop again, others likely hit the stores after reacting to updated tariff news.
On Wednesday, U.S. retail sales for March spiked up 1.4 percent to $734.87 billion versus the 0.2 percent gain to $724.54 billion in February, according to the Commerce Department. Apparel and accessories stores, including footwear retailers, saw sales climb 0.4 percent in March to $$26.68 billion.
Analysts didn’t see the uptick as a sign of economic strength, but a reflection of consumer uncertainty against a backdrop of anticipated higher prices when the new duty rates go into effect.
Jefferies equity analyst Linda Tsai said in a research note that mall foot traffic improved in March from the month before. She concluded that the increase was likely from “demand pulling forward in anticipation of tariffs driving prices higher versus stable organic demand.” Her colleague Corey Tarlowe noted that Foot Locker saw the most significant foot traffic decline at down 6.8 percent year-over-year, while Randall Konik said Nike’s traffic rose 0.5 percent, also year-over-year.
Jefferies’ Omar Nokta at the start of the year pointed to continued strong trade volumes, with container fleet capacity utilization expected at 86 percent in 2025. That suggested an elevation in U.S. retail inventories as retailers continue to stock-up. Jefferies’ retail and consumer analysts at the time cited to concerns of a potential U.S. port strike in mid-January and new tariffs under President Donald J. Trump as reasons for the build-up. But with inventory growth up across athletic apparel, footwear and specialty stores, the analysts also expressed concern about possible markdowns and margin pressures ahead.
