Robust e-commerce growth of footwear, customization, personalization, athleisure & healthy lifestyle trends and millennia’s preference for online shopping trends are bolstering underlying demand for customized footwear.
“Global Customized Footwear Market Outlook 2024”
According to Goldstein Research, global online footwear and apparel sales increased by 21.5% in 2016, and e-commerce accounted for 11% of total global footwear sales.
The global market for customized footwear was USD 60 billion in 2016. It is expected to grow at a CAGR of 5.5% over the forecast period and reach a valuation of approximately USD 92 Billion by 2024.
The segment for non athletic customized footwear is expected to grow at a faster pace than customized athletic footwear owing to keep up with the current fashion trends.
China has the largest online apparel and footwear market worldwide and is also the country with the highest proportion of apparel and footwear sold online: some 25% of total category sales were online last year.
Good shoes take you to good places
Under Armour’s new platform that allows customers to customize their shoes by uploading desired images and colors, reported better than expected results for Q1 2017. Although its competitors like Nike already has this feature which is the ongoing trend in the footwear industry. Customization help in building a loyal customer base as it’s a growing trend in the footwear space and manufacturers are looking to provide this option to attract and retain customers.
“Global Customized Footwear Market Outlook 2024” contains detailed overview of the global customized footwear market in terms of market segmentation by product type and end user.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global customized footwear market report also provides competitive outlook for some of the major players which includes profiling of companies such as Vans, Reebok, ASICS, Nike, Alive Shoes, Adidas, Shoes of Prey, Under Armour, Alfred & Sargent’s, Bionda Castana, Buchanan Bespoke, Buttero, Crockett & Jones, Edward Green etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global customized footwear market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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