Increasing Demand for Trendy Yet Comfortable Footwear to Set the Tone for Footwear Sales Globally, Says Tmr

Due to the presence of a large number of players, the global footwear market demonstrates a highly competitive landscape. To gain an edge in the market, the leading vendors particularly focus on product differentiation and capitalizing on the opportunities in emerging countries. Furthermore, leading companies such as Nike Inc. (U.S.), Adidas AG (Germany), Bata Limited (Canada), Puma SE (Germany), and others are also looking at mergers and acquisitions as one of the key strategies to expand their businesses globally.

Despite growth witnessed by the overall fashion industry being robust, expansion of the footwear market will remain moderate between 2015 and 2023. Transparency Market Research (TMR) however projects the developing economies to exhibit lucrative prospects for the market. Besides this, the globally increasing demand for trendy and comfortable sportswear will boost sales of footwear. Sports activities have significantly increased globally and so has the demand for comfortable footwear. Moreover, a surge in health and fitness activity is also noted. This has compelled leading sports brands to manufacturing technically more sophisticated and innovative footwear.  

Footwear Manufacturers Seizing Opportunities in Proliferation of Retail Culture
As per a lead analyst in TMR, “Footwear manufacturers are also expected to capitalize on the increasing retail culture.” “Since consumers are impressed by the diversity and easy availability of footwear, leading companies are seeking to bolster their overall sales by making their products available across the retail chain,” he added. The proliferation of internet retailing is also expected to boost prospects for sale of both non-athletic and athletic footwear.

As per TMR, online retail has emerged as a popular medium for shopping women’s and sports footwear. The exclusive range of products available online are often available at a discounted price. This makes online retail a lucrative channel of sale of...