Certain regions including but not limited to North America, Europe and Asia- Pacific house some of the celebrated fashion hubs in the world. Hence, it is no secret why fashion and accessory industry flourish in these regions. Considering the recent shifts in the fashion market, the footwear industry has finally managed to constitute as one of the most promising segments of the apparel industry worldwide. There is no doubt, that the industry has stayed receptacle to macroeconomic influences compared to the different segments of the fashion and apparel industry. Furthermore, much can be traced to its growing popularity as “affordable luxury” and interpreted as the best investment. However, the global footwear market is influenced by many trends.
Tidings of ecstasy and comfort – Recently, fourindependent designers from Britain made several heads turn, for their mission to address the pain points of professional woman wear. Libby London, Cecily, Michaela Jedinak and Alice Bow disclosed to the world how important is it focus on office footwear for women. Besides showcasing their finest work, the designers made it clear that transformation in footwear comfort was inevitable. The women office wear market today is marked by customizable tailoring, range of solid color, convenient style and more.
Men prefer shoes that support their stature – Today, men shoes are no longer dictated by the fact that they have to pair up formal shoes with office wear. Men are now seen shopping for comely lace – up shoe that’s perfect for business meeting or weekend party. Besides being chic the make goes beautifully with a dark suit or a rugged jean. Besides this, the chukka boots have also won the hearts of many, having a real taste for fashion. This low-top boot is usually manufactured in dark brown velvety nap. As a perfect casual shoe, these boots can be paired up with cashmere blazer and rugged jeans. A must on every man’s go –to comfort shoe list for weekend, chukka’s make a fashionable wear. On the other hand, the casualization of men shoes has also resulted in a tremendous surge and the demand for more and more sneakers.
Famous footwear brands are booming –Prominent shoe brands today are seen adopting effective market entry strategies to stay competitive. Recently, a new entrant, from Japan has decided to partner with North American Shoe Co. to launch their children’s footwear in the United States. Established in Japan in 1999, under the name “Marubeni Footwear” is determined to popularize healthy foot development. Another prominent market player, Beatrix Ong has stunned the market by unveiling its new sustainable shoe collection. Manufactured from canvas, the latest collection is available in Sponge Bob print, black as well as white. The maker claim that the insoles are made from both charcoal and bamboo and keeps your feet deodorized.
Investors go head over heels – As shoppers continue to spend on pricy foot, they are not just flaunting their credit cards but have managed to lure several investors to the footwear market. Founder of ‘Shoes of Prey’ recently disclosed that the company has backed $15.5 million from enterprises such as Nordstrom and more. Other major investors who had funded this brand in the past includes Greycroft Partners, Khosla Ventures and BlueSky Venture Capital. The overall retail space for footwear brands is rife with opportunities for potential investors. Subsectors including fashion boots, sneakers etc. offer great investment opportunities. The footwear market has observed significant rise over the past few decades and investors now have every reason to believe new developments will appear over the next four to five years.
Digital marketing strategies to lure the voguish generation - Brands such as Aditya Birla Group, that boasts of its presence in more than 40 nations so far, have finally decided to explore the e-Commerce market in India. Company’s online portal that hit the market in October 2015, has been designed specifically to serve the fashion conscious youth in the country. Another curated lifestyle destination in India, Styletag.com has won the hearts of many shoe lovers since its inauguration.
Innovations keep the market future bright - Today, footwear brands depend greatly on innovation to provide answers to the growing demands from both retailers and buyers. Recently, ‘Altra Lone Peak Mid Neoshell ‘answered the requests of many hikers by launching their mid – high trail style. Ikiki’s squeaky shoes for toddlers brought relief to many parents, wanting their kids to match their steps to fun sounds. These shoes are currently available is designs featuring animals such as kittens, puppies, pandas and many others. Finally, Adidas has made clear that it would soon launch silhouette. To maintain a competitive edge footwear brands are seen investing huge funds in research and developments. Business strategies such as collaboration, mergers and acquisitions and more have helped these brands to position their products successfully among tough competition.
Eyeing the recent acuities in the footwear market, Big Market Research has added a report titled “World Footwear - Market Opportunities and Forecasts, 2014 - 2020”. As per the market research report, the footwear market in regions such as Asia – Pacific, Latin America and Middle East and Africa would observe a tremendous growth. The major market players listed in the report includes Nike Inc., Adidas AG, PUMA, GEOX S.p.A, SKECHERS USA, Inc., Under Armour, INC., Wolverine World Wide, Inc., Timberland, Crocs Retail, Inc., and ECCO Sko A/S. Competitive landscape too forms an important part of the study.
Several studies confirm that growing consciousness of health and fitness, has compelled many manufacturers to boost their athletic footwear segment. Likewise, buyers are also preferring non –leather shoes made of materials such as rubber, textile fabrics, fur and others. Two countries popular for exporting leather shoes to countries including the United States, United Kingdom, Middle East etc. are India and China. In addition, major brands involve themselves in effective branding strategies for their brands across different global events. Some of the popular events that allow footwear brands a great platform includes Wimbledon, Olympics, Formulae One Grand Prix and others.
The report was published by Big Market Research