According to recent survey data from the British market research company Euromonitor, the sales of Brazilian apparel and footwear market in 2020 is about USD 20.7 billion, down 24 percent, which is higher than the global average (-17.3 percent). It is estimated that the Brazilian market for this industry will not be expected to return to the sales in 2019 until 2023 at the earliest, which is USD 27.4 billion.

The survey results show that the Brazilian footwear market fell 27.6 percent in 2020, higher than the 23 percent decline in apparel. At the beginning of the pandemic, the market forecast for this industry was more pessimistic. The original forecasted market development curve was L-shaped, but the current estimated recovery curve may be V-shaped.