Women’s Luxury Footwear Market
2019 Analysis and Review of Women’s Luxury Footwear Market by Product - Boots, Heels & Pumps, Sandals & Flats, and Casual, Sneakers & Sports Shoes for 2019 - 2029
- 2019-11-19
- REP-GB-10679
- 80 Tables
- 81 Figures
- 350 pages
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Press Release:
Women’s Luxury Footwear Market Opportunity
Women’s Luxury Footwear Market – Stepping into a Bigger Future
In the age of fast changing trends, the luxury industry is keeping an eye on a new consumer class – millennial and Gen Z – that is rising and set to become increasingly relevant in the future. While men’s lines of luxury footwear are growing on a pace with men placing a greater emphasis on their appearance, womenswear still accounts for the biggest share. Sales of women’s luxury footwear are expected to expand at a CAGR of 6% over the forecast period (2019-2029). Future Market Insights, in its new study, discusses key trends shaping this market and analyzes how modern technology and use of social media are influencing consumers’ buying decisions in this fast growing sphere.
Key Growth Influencers - Women’s Luxury Footwear Market
Brand Endorsements Evoking Consumer Interest
Consumers’ purchase behaviour of women's footwear, to some extent, depends upon what their desired stars and athletes are wearing. Footwear providers appoint popular celebrities as brand ambassadors of their products. For example, Roger Federer is a brand endorser of Nike, and Kylie Jenner has recently become the brand endorser of Adidas products. Brand endorsement has a psychological impact on consumers, as the sight or memory of their celebrity idol reminds them of brands that they endorse.
Expansion of Affluent Consumer Class
Major brands of footwear are targeting high end customers or women, and strengthening their women footwear business through special advertisements and branding. The number of working women is rapidly increasing, and women are running new business that provide them self-sufficiency and financial independence, across the globe. These women are counted among high-net-worth individuals, and the global wealth share by women is expected to increase by 30% in 2020. All these factors are expected to fuel the demand for women’s luxury footwear during the forecast period.
Increasing Preference for High-End Products
The recent past has witnessed a widespread distribution of women’s luxury footwear by attracting consumers of all age groups. The younger generation is considered as the key driver for the women’s luxury footwear market growth. In coming years, Gen Y and Gen Z are likely to contribute a significant share in the market owing to their high purchasing power and their influence in purchasing products through online sales channel. In the global luxury market, these two generation consumers are expected to hold around 55% of the value by 2025. The luxury goods market, which also includes luxury footwear, is expected to have a significant market share during the forecast period. In the personal luxury products market, the number of millennial consumers is predicted to increase from 33% to 50% in 2025.
Introduction of Eco-friendly Luxury Footwear
Consumers around the world are conscious about the usage of eco-friendly or green products. Manufacturers of footwear are also observing the trend and have now come up with some great options such as sustainable footwear or sneakers from recycled and renewable materials such as Adidas x Parley, Tread by Everlane, Converse Renew, etc.
In women’s luxury footwear category, manufacturers have an opportunity to produce sustainable or eco-friendly women’s luxury footwear. A very few companies are now producing sustainable footwear, which create opportunities for other players to enter sustainable footwear manufacturing. Growing consumers’ awareness about sustainable or eco-friendly products are projected to support consumers’ buying behaviour. The market has an opportunity to grow in developed countries where consumer’s awareness level is high.
Women’s Luxury Footwear Market: Structure Analysis
- The global women’s luxury footwear market represents a fairly consolidated competition landscape, where majority of key players maintain their strategic focus on quality and product variety.
- Leading producers of women’s luxury footwear are currently prioritizing R&D and new product launches to resonate with the growing demand from countries or regions such as USA, China, Japan, and European countries such as France, Italy, U.K., etc.
- Mergers and acquisitions are also identified as key developmental strategies adopted by manufacturers of women’s luxury footwear. Caleres acquired Vionic in October 2018, to expand its access to the growing contemporary comfort footwear category.
- Increasing number of counterfeit products and lack of quality retail spaces are likely to create a bottleneck for prominent players.
Sandals & Flats Stay in Demand, Sneakers Gaining Significant Traction
In 2018, women’s luxury sandals & flats worth of around US$ 4.4 Bn were sold worldwide, contributing a major share to manufacturers’ bottom lines. In recent years, streetwear ‘athleisure’ trends have strongly influenced premium fashion choices, propelled by modern affluent consumers’ desire to balance comfort and style. The result is projected to lead to increased sales of women’s casual, sneakers, and sport shoes over the next decade. With celebrities transforming the perception of active wear to a hit fashion statement, sneakers and sports shoes which were once focused on performance and functionality are given a designer reinterpretation.
East Asian Women’s Appetite for Luxury Footwear Remains Unrivaled
The U.S. leads the adoption of women’s luxury footwear with a wide range of players focusing on diversifying their product portfolio to maintain a competitive advantage. However, significant lucrative opportunities are expected in East Asia, especially in China, owing to expansion of affluent consumer class and subsequently changing purchasing decisions. In 2019, sales of women’s luxury footwear in China will witness 10% increase over 2018. A gradual move away from disposability in favor of occasionally worn, highly priced editions of footwear are set to lure more Chinese consumers in years ahead.
* This data is only a representation. Actual data may vary and will be available in report.
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2014
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2018
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2022
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2029
Market Players Pivot their Strategy to Sell Online
Store-based retailing still remains preferred, as it allows customers to check their products physically and enjoy brand experience. Earlier, high-end items were reserved for offline sales and E-commerce was considered a channel for selling low- to mid-range women’s luxury footwear. However, realizing that luxury purchases these days are majorly influenced by online experience, companies are focusing on strengthening their online retail channels. In recent past, E-commerce expansion has been significantly influencing luxury industry, further compelling manufacturers to adopt an omni-channel strategy. In 2019, over a fifth of women’s luxury footwear sales will take place online.
Sandals & flats remain top selling category
High demand for casual, sneakers & sports shoes
Rubber remains highly preferred
Demand for canvas to grow rapidly
Offline sales remain bullish
Online sales to be buckling
How Growth will Unfold
While rubber and leather continue to be materials of choice for women’s luxury footwear, the trends of transparency and sustainability are expected to alter the exiting scenario. As today’s consumers value transparent communication about the entire production process and prefer to wear shoes that has not harmed the environment, human, or animal rights, manufacturers will need to redefine their product innovation strategies. Prioritizing the use of alternative materials including plant-based rubber, bio-printed leather, and natural textile will further remain key to gaining distinct competitive edge.
* This data is only a representation. Actual data may vary and will be available in report.
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Overview
Women’s Luxury Footwear Market Analysis 2019 -2029
A recent market study published by FMI on “Women’s Luxury Footwear Market: Global Industry Analysis 2014-2018 and Opportunity Assessment 2019-2029” offers a comprehensive assessment of the most important market dynamics. After conducting thorough research on historic as well as current growth parameters, growth prospects of the market are obtained with maximum precision.
Womens Luxury Footwear Market Taxonomy
Product
- Boots
- Heels & Pumps
- Sandals & Flats
- Casual, Sneakers & Sports Shoes
Material
- Rubber
- Leather
- Polyester
- Velvet
- Canvas
- Textiles
- Others
Price Range (US$)
- 300-499
- 500-699
- 700-999
- 1000-1299
- 1300-1599
- 1600 & Above
Sales Channel
- Offline Sales
- Department Stores
- Specialty Stores
- Monobrand Stores
- Off-price Stores
- Others
- Online Sales
Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
What's Included
The report commences with the executive summary of the women’s luxury footwear market, which includes a summary of key findings and key statistics of the market. It also includes market value (US$ million) estimates of leading segments in the women’s luxury footwear market.
Readers can find the detailed taxonomy and definition of the women’s luxury footwear market in this chapter, which will help them understand the basic information about the market. This section also highlights the inclusions and exclusions, which helps the reader in understanding the scope of the Women’s Luxury Footwear market report.
The report provides key market trends that are expected to impact market growth significantly during the forecast period. Detailed industry trends are provided in this section, along with key market developments or product innovations.
This section includes brand positioning key sales differentiator, mergers and acquisitions across the value chain, category performance by product type, etc.
This section includes key inclusions of the report. It offers product adoption and usage analysis, effective quality control, establishment of export markets and opportunity analysis, and strategies followed by manufacturers for market expansion.
This section provides detailed analysis of the historical women’s luxury footwear market volume, along with an opportunity analysis of the future. Readers can also find the absolute opportunity for the current year (2019–2020), and an incremental opportunity for the forecast period (2019–2029).
This chapter highlights the pricing analysis based on product type for base year 2018 and forecast year 2029.
This chapter includes the detailed analysis of the historical women’s luxury footwear market value, along with an opportunity analysis of the future. Readers can also find the absolute opportunity for the current year (2019–2020), and an incremental opportunity for the forecast period (2019 – 2029).
This chapter explains key macroeconomic factors that are expected to influence the growth of the women’s luxury footwear market over the forecast period. Along with macroeconomic factors, this section also highlights the opportunity analysis for the market. It also offers key market dynamics of the women’s luxury footwear market, which include drivers, restraints, and trends. Moreover, it will help readers understand key trends followed by leading manufacturers in the Women’s Luxury Footwear market.
Based on product, the women’s luxury footwear market is segmented into boots, heels & pumps, sandals & flats, and casual, sneakers & sports shoes. In this chapter, readers can find market attractiveness analysis, based on product.
This chapter provides various details about the women’s luxury footwear market on the basis of material, and has been classified into rubber, leather, polyester, velvet, canvas, textiles, and others. In this chapter, readers can understand the market attractiveness analysis, based on material.
This chapter provides details about the women’s luxury footwear market on the basis of price range, and has been classified into 300-499, 500-699, 700-999, 1000- 1299, 1300- 1599, 1600 and above (US$), along with market attractiveness analysis.
This chapter provides details about the women’s luxury footwear market on the basis of sales channel, and has been classified into offline and online. Offline sales channel is further bifurcated into department stores, specialty stores, monobrand stores, off-price stores, and others, along with market attractiveness analysis.
This chapter explains how the women’s luxury footwear market will grow across various geographic regions, such as North America, Latin America, Europe, East Asia, South Asia and Pacific, and the Middle East and Africa (MEA).
This chapter includes a detailed analysis of the growth of the North America women’s luxury footwear market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find regional trends, regulations, and market growth based on product, material, price range (US$), sales channel, and countries in North America.
Readers can find detailed information about several factors, such as pricing analysis and regional trends, which are impacting the growth of the Latin America women’s luxury footwear market. This chapter also includes growth prospects of the market in leading LATAM countries such as Brazil, Mexico, Argentina, and the rest of Latin America.
Important growth prospects of the women’s luxury footwear market in several countries such as Germany, the UK, France, Spain, Italy, Russia, and the rest of Europe are included in this chapter.
India, Thailand, and Malaysia are leading countries in the South Asia region, which are prime subjects of assessment to obtain growth prospects of the market. Readers can also find detailed information about growth parameters of the South Asia women’s luxury footwear market during the forecast period.
This chapter highlights the growth of the women’s luxury footwear market in East Asia by focusing on China, Japan, and South Korea. This section also helps readers in understanding key factors that are responsible for the growth of the Women’s Luxury Footwear market in East Asia.
This chapter highlights the growth of the women’s luxury footwear market in Oceania by focusing on Australia and New Zealand. This section also helps readers in understanding key factors that are responsible for the growth of the Women’s Luxury Footwear market in Oceania.
This chapter provides information about how the women’s luxury footwear market will grow in major countries of the MEA region, such as GCC Countries, South Africa, Israel, and the rest of MEA, during the forecast period.
This chapter provides information about how the women’s luxury footwear market will grow in emerging countries such as China, India, and Mexico, during the forecast period.
This chapter provides information market analysis of companies, market concentration of companies, market share of top players and their presence.
In this chapter, readers can find a comprehensive list of all leading stakeholders in the women’s luxury footwear market, along with detailed information about each company, which include the company overview, revenue shares, strategic overview, and recent company developments. Some market players featured in the report are Caleres, Kering, Burberry, Capri Holdings Limited, Under Armour Inc., Jimmy Choo PLC, Christian Dior, Ariat International Inc., Hermes, Tapestry, Inc., Sarah Flint, Chanel, Christian Louboutin, Catwalk Worldwide Pvt. Ltd., and others.
This chapter helps readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the women’s luxury footwear market.
How the research was conducted?
Primary Research
Primary research interviews with key opinion leaders and other participants were conducted for data collection and validation of the below information:
- Newt development in women’s luxury footwear manufacturing
- Leading players for each brand labels for women’s luxury footwear
- Key strategies followed by women’s luxury footwear manufacturers
- Average Selling Price (US$) and market growth for women’s luxury footwear
- Key developments in women’s luxury footwear market
- Key trends and opportunities
- Region-wise dynamics
- Market share information
- Competition & key vendor strategies of women’s luxury footwear
Secondary Research
- American Apparel & Footwear Association (AAFA)
- Footwear Distributors and Retailers of America: FDRA
- European Confederation of the Footwear Industry
- Federal Association of German Footwear and Leather Goods Industry
- World Footwear - Europe
- European Confederation of the Footwear Industry
- Chinese Footwear Industry
- World Luxury Association
- European Cultural and Creative Industries Alliance
- Millennials and Luxury Market
- Personal Luxury Goods Market
- Luxury Apparel & Footwear Market
Primary Interview Splits
Womens Luxury Footwear Market Reports - Table of Contents
25. Assumptions and Acronyms Used
26. Research Methodology
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