The global sports footwear market to grow at a CAGR of 2.71% during the period 2017-2021.
Global Sports Footwear Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers value sales of sports footwear products.
One trend in the market is digital and social media marketing. Digital and social media marketing are essential marketing tools for the vendors to increase product visibility. To compete in this intensely competitive market, it has become essential for the brands to develop, market, and promote their products through interaction with the consumers on social media.
According to the report, one driver in the market is high operating margin of sports footwear. Sports footwear is usually priced higher than regular shoes. This is because their manufacturing process involves different technicalities that enhance performance at sports. Vendors focus on introducing innovative features in their products that are used for running, tennis, basketball, football, soccer, and other sports. Manufacturers also earn high operating margin from premium-priced sports footwear. This is because the manufacturing cost of these products is low, whereas they are sold at higher prices.
Further, the report states that one challenge in the market is increasing cost of raw materials. Rising fluctuations in the profit margins of the manufacturers of sports footwear are due to the increasing prices of raw material and intense competition among the vendors. This makes executing a proper pricing strategy challenging for vendors. Ethylene vinyl acetate (EVA), an elastomeric polymer, is the raw material used in the production of soles of sports footwear. Increase is the price of this material has a directly proportional impact on the prices of sports footwear. This further leads vendors to increase the prices of their products.
Other prominent vendors
The Rockport Group
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Segmentation By Distribution Channel