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International Footwear Market: 2017 Trends Worldwide!
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An overall rise in the retail culture is triggering the growth of global footwear market. Factors such as great diversity in the footwear market and easy availability of products in many retail outlets are anticipated to encourage impulse buying of these products. Different brands as well as retailers are re-orienting their focus on this market, which has led to a significant increase in the number of retail outlets worldwide. Moreover, there has been noteworthy growth in the advertising and marketing related investments made by different brands. Internet retailing is also gaining prominence for the purchase of footwear across different cities. This channel is gaining popularity for the purposes of shopping for women’s footwear as well as sports footwear.
Sellers in North America Gaining from Growing Online Retail Activities
With its local population increasingly participating in sports and athletic activities, demand for footwear is likely to surge in North America. Since, the region is at fore of many innovations, it also witnesses robust development in footwear in terms of both design and quality. Furthermore, internet retailing in the region has been demonstrating rapid growth as well, particularly in Canada and the U.S. This has enabled sellers of footwear in North America to gain from wider reach and better visibility in the region.
Non-athletic Footwear Segment to Grow at Higher Pace than Athletic Footwear
The global footwear market can be broadly classified as athletic footwear and non-athletic footwear segment. Of these, demand from the non-athletic footwear segment has been surging at a greater pace than the former. As per TMR, the segment held over 52.44% of the global footwear market in 2014.
Vendors of non-athletic footwear segment are focusing on the prevailing fashion trends to woo customers. The segment is further sub-categorized into dress evening footwear, casual footwear, military boots, and others. The segment is likely to gain significant impetus from the launch of new designs and shades of shoes in the market. Among the various sub-segments, casual footwear held the largest share in the segment. By revenue and volume, casual footwear held 31.23% and 31.28% of the segment, respectively, in 2014.
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