By 2021 the footwear market is anticipated to increase by 3% on a global level. This growth is attributed to the increasing demand for casual and sports footwear that will help meet the the day-to-day needs of both men and women.
As per Euromonitor, the growing preference for comfort over style has made it easier for consumers to opt for athletic shoes instead of formal ones, especially among female consumers. The discounts offered during promotions have helped in boosting sales even further. Similarly, many shoe companies are focusing on releasing new ranges of shoes with innovative designs and styles, which are expected to contribute well towards this market.
Premium leather materials are increasingly being used by manufacturers to appeal more to customers who desire sophistication along with quality. In fact, due to the growing demand for shoes that you can wear in casual and formal settings, manufacturers are focusing on utilizing modern technologies in product design and construction.
History and evolution of footwear
The history of footwear dates back to ancient times. Rocks, bones, wood, and other materials are among the oldest parts ever discovered by archaeologists. This suggests that shoes have always been a part of our human culture.
In Europe, archaeological evidence shows that people wore shoes made from skin or leather since 3500 BC. In the Middle East, Egyptian pictographs show that sandals were worn in 3100 BC. Sandals continued to be worn after that time, though they may have been reserved for special ceremonies rather than daily life. Ancient Greek Attic vase paintings show soldiers wearing ankle-high boots with thick soles and woolen strips around their lower legs for warmth. Their feet were protected by leather patches sewn inside the outsole and stitched over the instep. Some boots had in-step covers to protect the ankles better, while others are worn by cavalrymen still lacked them.
By 1000 BC in northern Europe, shoes were made of skin or leather and were embellished with metal studs and lacing up straps around the calf and fastened at the top with a buckle. Check Brochu Walker women’s boots for the latest collections.
In China, pulled-on boots similar to modern-day slippers appeared in 600 BC. Drawstring shoes with an uppercut that resembled modern-day loafers also date back to this time period. Although they still only existed as ideas on paper – their string ties were never attached anywhere.
What does the future hold?
In terms of geography, Euromonitor predicts that many emerging markets such as APAC and Latin America will contribute greatly towards this market growth over the next few years. These two regions have been witnessing a significant rise in their economies, leading to an increase in purchasing power and disposable incomes amongst consumers, thus fuelling shoe sales across both men’s and women’s footwear categories.
North America is expected to continue leading the global footwear market throughout the forecast period. However, fierce competition from other regions such as China and Japan can pressure North American manufacturers to innovate to maintain their footing in this sector.
Euromonitor International’s Women’s Footwear Trends report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest retail sales data in volume terms 2013-2017, allowing you to identify the sectors driving growth. Forecasts to 2022 illustrate how the market is set to change.
Find here – The Women’s footwear trend for 2021