LONDON--(BUSINESS WIRE)--The global online footwear market is expected to post a CAGR of almost 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Many footwear vendors are focusing on increasing the sale of their products through online retail channels to reduce the capital expenditure incurred by physical retail stores. Vendors are also focusing on making fast, reliable, and on-time deliveries. In addition, the high penetration of the internet and the growing sale of smartphones in emerging economies has increased the consumer inclination toward online shopping. These factors are influencing the expansion of the global markets for e-commerce and m-commerce which, in turn, is driving the growth of the online footwear market.
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As per Technavio, the advent of smart and customized footwear will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Online Footwear Market: Advent of Smart and Customized Footwear
Vendors are focusing on the introduction of innovative and technologically advanced smart and customizable footwear to attract customers. For example, in January 2018, Under Armour launched the UA HOVR Phantom Connected shoes that can track, analyze, and store virtual information about running metrics. Similarly, other vendors are offering a high level of customization options to suit the preferences of the customer. This trend will have a positive impact on the growth of the global online footwear market during the forecast period.
“Increasing adoption of omnichannel retailing and the growth of the global online e-commerce logistics market will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Online Footwear Market: Segmentation Analysis
This market report segments the global online footwear market by product (non-athletic footwear and athletic footwear), end-users (women, men, and children), and geography (Americas, APAC, and EMEA).
The APAC region led the market in 2018, followed by the Americas and EMEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the market. This is due to factors such as the expansion of the middle-class population, rise in disposable income, and strengthening of sports infrastructure in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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