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What drives sales of footwear?
Purchasing power, price, fashion, sustainability and climate are all driving footwear sales. However, how important are each of these in the moment the consumer chooses a new pair of shoes?
The factors considered by our experts to be the most relevant in determining the evolution of sales of each category of footwear have not changed significantly since the previous edition.
Purchasing power, price and fashion trends continue to be considered the most important drivers, by the same order. Nevertheless, the factor “price” has gained importance (+7 percentage points) compared to the previous edition of this survey, which can reflect our experts’ concerns over the delicate economic situation we are currently living. There is worldwide unanimity in considering purchasing power as the most relevant determinant.
As regards the other factors, however, there are significant geographic differences in responses. Fashion trends are more relevant in North America (80% of responses) than in any other location (<45%) and, on the contrary to the previous edition, these received more answers from manufacturers than traders. In the opposite direction, prices are less relevant in North America (20%) than anywhere else (>44% for all others).
Sustainability concerns have been showing an increasing percentage from edition to edition.
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About the Business Conditions Survey
In 2019 the World Footwear has created the World Footwear' experts panel and is now conducting a Business Conditions Survey every semester. The objective of the World Footwear Experts Panel Survey is to collect information regarding the current business conditions within the worldwide footwear markets and then to redistribute such information in a way it will provide an accurate overview of the situation of the global footwear industry.
The third edition of this online survey was conducted during the month of October 2020. We have obtained 122 valid answers, 56% coming from Europe, 25% from Asia, 9% and 8% from South and North America, respectively, and the remainder from other continents. Almost one third (31%) of the respondents are involved in footwear manufacturing (manufacturers), 21% in footwear trade and distribution (traders) and 48% in other footwear-related activities such as trade associations, consultancy, journalism, etc. (others).
The third edition of this online survey was conducted during the month of October 2020. We have obtained 122 valid answers, 56% coming from Europe, 25% from Asia, 9% and 8% from South and North America, respectively, and the remainder from other continents. Almost one third (31%) of the respondents are involved in footwear manufacturing (manufacturers), 21% in footwear trade and distribution (traders) and 48% in other footwear-related activities such as trade associations, consultancy, journalism, etc. (others).
Cover Image credits: Javier Allegue Barros on Unsplash
