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Footwear Retailing in the UK | Verdict Sector Report

  • September 2014
  • -
  • GlobalData
  • -
  • 191 pages

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Summary
Higher disposable incomes due to wage growth recovery, combined with a rise in consumer confidence, will drive discretionary purchases and volumes in 2014, while better trend adaptation from the catwalks will drive shoppers to buy more on-trend footwear styles, aiding expenditure growth of 2.6%.

Key Findings
- Provides data and insight on market size, sales and growth rates for footwear overall and by channel, helping to identify growth opportunities.

- Provides expenditure breakdown across the value, midmarket and premium footwear sectors highlighting the areas which offer the most growth potential.

- Forecasts expenditure and spend per head for women's, men's and children's footwear to 2019, highlighting the sectors with the most growth potential

- Footwear expenditure forecast to 2019 and analysis of volume growth and inflation, aiding future planning and strategising

- Market issues are examined: consumer demographic analysis, online growth prospects, niche product opportunities and drivers of children's footwear.

Synopsis
2014 has seen a conscious effort from retailers to introduce more transeasonal footwear to prevent a repeat of 2013's poor performance, which was impacted by unseasonable weather. Being proactive in adapting product ranges is key, while reacting to short-term changes in the weather through marketing is also vital to better suit consumer needs.

Consumers will place quality, comfort and style over price as loyalty drivers and will trade back up to the midmarket and premium brands they love, aiding these segments of the market to grow by a total of £917m in the next five years to 2019.

The UK online footwear market is forecast to grow by 156.9% in the five years to 2014, as spend shifts from more traditional shopping methods and multichannel retailers such as Schuh, Office and Next continue to invest in their platforms and increase footwear product availability online.

Reasons To Buy
- What is driving women's spend in footwear and how can I increase sales in men's shoes? What impact will value players have on children's footwear?

- What challenges do footwear specialists face from clothing retailers and sportswear players? How can they protect their place in the market?

- Which retailers will gain the most market share in 2014, and who are expected to be the greatest share losers and why?

- How can I defy unpredictable weather to maintain spend, and which players have started to invest in transeasonal footwear ranges?

- What proportion of footwear sales will come from the online channel in 2014? What must value players do to further capitalise on this growing channel?

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