Global Premium Shoes Market 2017-2021
About Premium Shoes
Premium shoes are shoes that are designed for sports and other outdoor activities such as athletics and workouts. These shoes are also used as a fashion footwear among target consumers. In general, the retail price of premium shoes is higher than that of the average price of other shoes sold in the market. The global premium shoes market is a sub-segment of the global footwear market and offers a wide range of footwear that comes in multiple colors, designs, and prices to cater to the needs and purchasing abilities of residential customers.
Technavio’s analysts forecast the global premium shoes market to grow at a CAGR of 2.42% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global premium shoes market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Premium Shoes Market 2017-2021
Technavio recognizes the following companies as the key players in the global premium shoes market: adidas Group, ASICS, New Balance, Nike, and SKECHERS USA.
Other Prominent Vendors in the market are: Amer Sports, AVIA, British Knights, Brooks Sports, C&J Clark International, Columbia Sportswear, Eddie Bauer, Florsheim Shoes, Kering, NEWTON RUNNING, Nfinity, Saucony, Steven Madden, The Rockport Group, Under Armour, VF Corporation, and WEINBRENNER.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is product customization driving product demand. Customization of premium shoes is an essential emerging trend that has been guiding the market toward attaining high growth rate. Customization offers customers to choose the desired shape, form, design, graphics, and size of a product.”
According to the report, one driver in the market is product innovation and differentiation leading to premiumization. Product innovation and differentiation are key attributes incorporated in products by leading vendors to gain customer attention in the premium shoes market. Advanced technical fabrications, innovative product designs, and new product developments are parameters that raise the saleability of premium shoes in the global market. At present, consumers are demanding for high-quality products that are equally inventive and comfortable. There are several models of sports shoes that are sold at premium prices by market vendors.
Further, the report states that one challenge in the market is growing labor cost deterring price growth. Labor cost has been one of the prominent operational challenges for regional and international players of the premium shoes market. Global players in the market such as Nike and adidas Group have manufacturing facilities in different countries. These companies face a lot of variations in labor cost as it varies from country to country. Also, countries in APAC such as China, Indonesia, Bangladesh, and Vietnam have manufacturing contracts with global vendors in the global premium shoes market. Labor wages in China have grown rapidly over the past 10 years.
adidas Group, ASICS, New Balance, Nike, SKECHERS USA, Amer Sports, AVIA, British Knights, Brooks Sports, C&J Clark International, Columbia Sportswear, Eddie Bauer, Florsheim Shoes, Kering, NEWTON RUNNING, Nfinity, Saucony, Steven Madden, The Rockport Group, Under Armour, VF Corporation, and WEINBRENNER.