Unorganized Players dominate the Footwear Market in India

According to a new report released by Research on Global Market, the footwear market is dominated by unorganized players. Currently, India is the second largest manufacturer of footwear in the world, after China. The footwear market caters to men, women and children and is involved in the manufacturing, marketing and selling of different kinds of footwear and accessories.

Footwear is no longer considered a mere necessity, but has evolved over the years to become a style statement for consumers. With the change in consumer behaviour and consumption patterns, organised retail players are slowly but steadily making a space for themselves in the market. Of the total footwear manufactured in the country, 90% is consumed domestically, while the remaining 10% is exported to European countries such as United Kingdom (UK), Germany, Italy and France.

Factors such as increasing smart phone and internet penetration, popularity of the e-commerce market and heightened marketing and sales efforts are pushing the footwear market in India. Companies that have an e-commerce presence are using the internet to not only push sales, but also to monitor consumer behaviour. This way they are able to cater to the ever-growing demands of the customer, while providing them with a personalized experience. The ecommerce wave has helped companies provide convenient and fast paced experience to the customers, such as easy payment options, after sales services, loyalty benefits, grievance management and competitive pricing.

The Indian market for footwear is segmented by end-user wise sales, and type wise market segmentation. The casual footwear market contributes the greatest to the overall revenue. Factors such as rising disposable income has shifted consumer buying pattern towards apparel s and footwear. The population residing in tier 1 and tier 2 cities have a considerably higher spending power, as a result of which the Indian footwear market has gained massive momentum. The rise of the organized retail sector and e-commerce has played a major role in boosting the market. The consumers have a large number of alternatives to choose from and special offers and discounts to attract customers.

The organized sector players face stiff competition from the unorganized sector that accounts for 85% of the total market. Lower sales tax and lower labour costs give the organized players a considerable advantage over organised players. Some of the major players operating in the Indian footwear market are Sreeleather Limited, Bata India Limited, Liberty Shoes Limited, Khadim India Limited, Relaxo Footwear Limited, and Adidas India Private Limited.

Browse full table of contents and data tables at @ https://www.researchonglobalmarkets.com/footwear-market-in-india-2018-2023.html

Key highlights of the report:

1. Overview of the Indian footwear market
2. Historical, current and forecasted market size data for the Indian footwear market (2017 to 2023)
3. Qualitative analysis of the major drivers and challenges affecting the market
4. Qualitative analysis of the Indian footwear market and its segments (end-user wise sales, organized vs unorganized split, material wise segmentation, type-wise market segmentation)
5. Trade analysis of the footwear market in India
6. Key recent developments associated with the footwear market in India
7. Analysis of the competitive landscape and profiles of major players operating in the market

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This release was published on openPR.