Industry Press Releases

The global athletic footwear market at a CAGR of over 3% during the forecast period

Wednesday, Sep 18, 2019

Global Athletic Footwear Market: About this market
This athletic footwear market analysis considers sales from specialty stores, hypermarkets, supermarkets, and departmental stores, online retail, and other distribution channels. Our analysis also considers the sales of athletic footwear in APAC, Europe, North America, South America, and MEA. In 2018, the specialty stores segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the presence of sales personnel having thorough product knowledge will play a significant role in the specialty stores segment to maintain its market position. Also, our global athletic footwear market report looks at factors such as rise in number of athletic tournaments, growth in online retailing of athletic footwear, and growing focus on DTC channel expansion by vendors. However, fluctuations in prices of raw materials, increasing labor cost, and threat from counterfeit products may hamper the growth of the athletic footwear industry over the forecast period.

Global Athletic Footwear Market: Overview
Growth in online retailing of athletic footwear
Online retailing is estimated to experience rapid growth during the forecast period. Online retail channels provide benefits such as quick delivery and competitive product pricing. Online retail helps customers compare products offered by various brands and conveniently place orders without physically visiting stores. Many online retailers offer exclusive discounts on athletic footwear. The increased penetration of internet-enabled smartphone devices has led to the rapid growth of the e-commerce industry worldwide. Quick delivery services and the changing demands by consumers will play significant roles in the growth of this channel during the forecast period. This will lead to the expansion of the global athletic footwear market at a CAGR of over 3% during the forecast period.
Increase in availability of customized athletic footwear
The evolution of footwear has necessitated vendors to focus on strategies such as faster delivery processes, mass customization, and personalization. The availability of custom-made models helps consumers to wear products that suit their specific requirements. Wearing customized footwear provides additional comfort by improving the functioning of feet, ankles, calf muscles, and legs. Custom-made footwear is beneficial for individuals with painful medical conditions or those who have trouble finding suitable footwear. This development is expected to have a positive impact on the overall market growth.

Competitive Landscape
With the presence of several major players, the global athletic footwear market is fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading athletic footwear manufacturers, that include adidas AG, ASICS Corp., BasicNet Spa, New Balance Athletics Inc., Nike Inc., PUMA SE, Skechers USA Inc., Under Armour Inc., VF Corp., and Wolverine World Wide Inc.
Also, the athletic footwear market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

Read the full report: https://www.reportlinker.com/p05815159/?utm_source=PRN

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Source: prnewswire.com

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