LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global disposable slippers market to grow at a CAGR of more than 5% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global disposable slippers market for 2017-2021. The market is segmented based on product (closed-toe, open-toe, and flip-flops) and geography (EMEA, the Americas, and APAC).
Disposable slippers, especially non-woven disposable slippers, are suited for one-time use and are disposed of after a single usage. These slippers find uses in hotels, spa centers, hospitals, and places like residential buildings, aircraft, and beauty parlors. Convenient production processes characterize disposable slippers because of their fixed size. The requirement of fabric in a single product is extremely low. Due to this, the key manufacturers of disposable slippers enjoy the ease of considering merely a limited number of factors during the manufacturing process.
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Technavio consumer and retail research analysts highlight the following three factors that are contributing to the growth of the global disposable slippers market:
- Adoption of multiple marketing and promotional strategies by key competitors
- Shift in consumers’ lifestyles
- Global recovery from 2008 economic crises
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Adoption of multiple marketing and promotional strategies by key competitors
Launching advertising campaigns is an age-old marketing strategy adopted by well-established sports-equipment manufacturers. In general, the most common purchase behavior exhibited by consumers is the preference for celebrity-endorsed products or services. Key competitors, therefore, use celebrity endorsements as one of their primary marketing tools.
Narendra Nadaigiri, a lead retail goods and services research analyst at Technavio, says, “Some of the most common promotional strategies for disposable turf shoes include offering discounts, gift coupons, seasonal offers, and lucky draws. The increased penetration of the internet has enabled competitors to increase their reach and customer base effectively. The online space has become one of the major retail channels in recent times. Such marketing initiatives and celebrity endorsements are expected to fuel the growth of the global disposable slippers market in the coming years.”
Shift in consumers’ lifestyles
A shift in consumer demographics and lifestyles impact the growth of the global wellness and hospitality industry, including disposable slippers. Spa services are mostly availed by baby boomers, followed by millennials. Millennials focus extensively on personal appearances and health. This makes them the biggest contributors to the wellness market after baby boomers.
“The increase in dual-household income, which increases the spending capacity of customers is another key factor contributing to the growth of the global wellness industry. The sales volume of spa centers and hotels is on the rise due to an increased number of people opting for wellness treatments and spa services. This is expected to positively impact the global disposable slippers market,” adds Narendra.
Global recovery from 2008 economic crises
A global economic rebound has been witnessed in the last five years. Accelerated economic growth rates due to low-interest rates are expected to result in a rise in employment opportunities. This implies a large number of people who have sufficient disposable income availing spa and hospitality services. The aforementioned factors have a positive impact on the global disposable slippers market.
The increase in the number of working women across the world has led to an increase in the number of dual-income households, thereby, resulting in a rise in the average income per household. A rise in the average income per household is expected to spur the growth of products such as disposable slippers that are associated with a convenient lifestyle.
Top vendors:
- Appearus Products
- Haon Group
- Nicely Neat
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