Trends in Footwear Industry Shoes help us get to our destinations. They also have a fashion purpose and allow us to express ourselves. Therefore, it shouldn’t come as a surprise that a lot of individuals are using the Internet to find shoes that are more unique than the typical pair. Here are a few footwear trends to keep an eye on that will undoubtedly affect your company.
4 Footwear Trends
Shoes that do more (for the world)
Trends in Footwear Industry Customers are becoming more conscious of global and ecological challenges as a result of exposure to the Internet and social networks. They want their retail brands to make a bigger difference in the world. The businesses that put the collective consumer conscience at the center of their operations—whether that means recycling, utilizing more environmentally friendly materials, streamlining procedures, or giving back to the community—are positioned to dominate the market. The market has been revolutionized by TOMS shoes, which allow customers to look nice while also doing good.
Shoes that do more (for the consumer)
Trends in Footwear Industry However, customers want their footwear to perform more than just look good. They also like the concept of a shoe serving a greater purpose. Over the coming several years, a flood of “multi-purpose” shoes should continue to hit the market. Customers want their footwear to provide information about their individual habits, similar to the Nike+ system. They need specialized equipment that will tone troublesome areas, as the Sketchers Shape-Ups purport to do. With Google Glass and fit bands becoming increasingly popular, it’s critical that shoe manufacturers keep up with this trend and keep innovating. In a competitive market, a consumer will choose your brand above others based on its added value.
Special edition/partnership
Limited-time promotions and celebrity or artist partnerships are becoming more common in retail. The same is true for shoes. To create limited-edition shoes, TOMS has collaborated with a number of artists. Taylor Swift has created some flats for Keds. Payless has followed Target’s example by selling designer shoes with a finite shelf life at a reduced price, such as their collection from Christian Siriano. Thoughts like “celebrity endorsements are hardly new-age” may come to mind, engagement is what we’re really talking about here. Knowing Taylor Swift likes Keds is one thing, but wearing Keds that Swift helped create is quite another (presumably).
Personalization
The consumer can find products online that they might not be able to in their own neighborhood. They can express themselves in any way, without restriction. With just one click, delivery is guaranteed. People increasingly consider it essential to have access to anything they desire, even if it isn’t currently available. Here comes shoe personalization. Customers are willing to spend more for products that are uniquely created for them, and companies like Converse and Sketchers have entered the game. An interactive internet interface that is user-friendly and straightforward improves personalization.
Each of the aforementioned trends has a significant digital component. You may keep track of which efforts perform the best with your audience and make adjustments to improve them for your subsequent campaigns with the aid of business analytics and marketing intelligence. Unquestionably, these trends are popular; what counts is what you’re willing to do with them.
Changes in lifestyle have become a significant component of one’s persona, defining how one conducts themselves and build a connection with others. The manner in which we choose to walk and the footwear we choose to wear are important factors in determining our lifestyle. “Give a person the right pair of shoes and watch him conquer the world,” is a common proverb. Now that we’ve explored the nuances of how wearing the proper footwear may get you to the right places, it’s important to understand the enormous scope of this sector and the current difficulties it is facing. Not only is the Indian footwear sector well renowned for creating jobs across the country, but also enjoys a solid image inside the government due to its clear economic contribution and projected annual growth rate of 13.53 percent until 2025. (as stated in a report by Statista). The Indian footwear market offers a variety of possibilities, from traditional styles to more contemporary choices. It is one of the fastest-expanding businesses worldwide. It is the ideal synthesis of variance in individualities, from contemporary to vintage.
Trends in Footwear Industry Challenges
Trends in Footwear Industry Similar to other industries, there are serious problems in this one that has just begun to arise in a number of different verticals. In managing operations and focusing on audience expectations, the footwear market has historically been largely disorganized. In other words, everything is as disorganized as it can be and has to be redone immediately, especially with regard to the collections being released and the manner in which they are being marketed to the targeted audience.
Challenge I: The transition
Despite the fact that a sizable portion of the industry is well-established in the internet market, some local vendors with relatively smaller firms are still having difficulty expanding their reach. The pandemic has accelerated the process, but many footwear companies have yet to establish their mettle and find success in the digital sphere, making it more difficult for them to stay up with their tech-savvy clients. Exploring the virtual space and advancing in it is the answer to this problem, which is also the challenge’s solution. It is crucial for companies to embrace the digital age and digitize their operations while also introducing new services for customers, such as virtual showrooms and trial rooms in the footwear industry. The higher the brand’s digital footfall, the more we incorporate artificial intelligence and work with other technologies, such as augmented reality, and algorithms, to make our customers feel more involved in the online experience.
Challenge II: Raw material used and their quality
The deteriorating quality of raw materials is among the issues. As cases of holes, abrasion marks, and stains increase in frequency throughout the industry, consumers are beginning to lose faith in both individual footwear companies and the sector as a whole. The quality is deteriorating to new lows due to the imbalanced differences in colors and patterns. A little caution before producing the footwear will address the issue. This can all be distilled down to one straightforward solution for each of the aforementioned issues, which is pre-production inspection. Most brands ignore these drills, leading them to believe that they are ineffective while in reality, the truth is far further away. A pre-production quality inspection, such as a drill, can reduce the concern to the bare minimum, working in both the target audience’s and the industry’s favor.
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Challenge III: The rising cases of defects
Trends in Footwear Industry This is an extension of the quality issue where the product travels through the supply chain and is supplied to the customer; however, there are a lot of cases of returns and exchanges because the defects in the sold items are expanding to new heights. Due to variations in shoe sizes and flaws in the standardization of production processes, the items are frequently returned to the vendors, which thins out the profit margins. This problem’s solution is somewhat comparable to the one for the quality issue while yet being distinctive in its own right. The important thing is to continue with a thorough inspection, but make it a pre-shipment inspection. A pre-shipment inspection often occurs following the production stage, post-work (when 80 to 100% of the manufactured and ready-for-shipment goods have been produced). The person checking randomly selects any sample from the items and examines them for workmanship and any mistakes that the manufacturer may have made before they are exported or transported to their final destination. The issues mentioned above are having a detrimental impact on the footwear market, and if the appropriate solutions are adopted, the profitability of the industry could rebound. It is a good time to invest in this industry and take full advantage of the buzz in the international market with the right branding and globally acceptable and appreciable articles, collections, and features. This is especially true for millennials and Gen Z, who is currently obsessed with trending sneakers, neon color variants, sassy boots, and vintage articles amidst the modern-day pairs The secret is to monitor the psychological and behavioral changes of the target market and provide the greatest quality through efficient deals and portals to connect with them and turn them into die-hard supporters of footwear brands and trends.
