Irving, Texas (PRWEB) April 30, 2013
The global footwear retail industry comprises establishments primarily engaged in the sale of all types of men’s, women’s, and children’s footwear. It includes leading global footwear retailers by their segmental revenues. The industry revenue is forecast to reach an estimated $275.1 billion by 2018 with moderate growth over the next five years.
Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis of the industry and presents its findings in “Global Footwear Retail Industry 2013-2018: Trend, Profit, and Forecast Analysis.” Europe dominated the industry with highest contribution in 2012. Asia Pacific (APAC) emerged as the fastest-growing region during the last five years.
Lucintel’s report provides a brief overview of the industry’s major challenges. It is virtually impossible to find fashion trends that maintain their place in the market for a long time. Manufacturers compete with each other fiercely to maintain their place in the market without compromising on the quality and durability of the footwear they produce. Keeping pace with teenage fashion is another challenge the manufacturers need to face successfully, as teenagers are fashion trendsetters, especially in footwear, in most areas of the world.
In spite of the challenges faced by the retail footwear industry, it also has many growth drivers, which the Lucintel study examines. There is an increased growth of fashion consciousness among the young and “not-so-young” people globally and this is a major driver for the industry. Comfortable and designer footwear choices, especially for women, are gaining in popularity further encouraging the industry’s growth. The key pillar of growth in the footwear market is the increase in consumer spending worldwide. Better marketing initiatives and customer care are advancing growth in the industry as well.
This market report is an indispensable reference guide for manufacturers of athletic and non-athletic footwear, designer footwear, marketing and advertising agency personnel, investors, executives, distributors, and many more that operate in this market. To make business, investment, and strategic decisions, timely, useful information is needed, which is fulfilled by this market report.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at helpdesk(at)lucintel(dot)com. Lucintel offers Opportunity Screening, Growth challenges and Business Strategy Consulting services to support decision makers in achieving their growth objectives.