Abstract
The state of the market over the past few years paints a bleak picture - negative growth, sluggish volume, falling margins - which suggests a market in decline. And while competition is intense, particularly at the value end as new entrants come into the market, some footwear retailers and manufacturers are fighting back and those with strong enough propositions are thriving. Some solid innovations keep footwear in eye of the media and customers.
Customers, especially women, are prepared to buy more at higher price points. Impulse buying is high, and can be tapped into with clever promotion. Fashion footwear is treated as an accessory to an overall ‘look' , in the same way as handbags, scarves and jewellery are worn. Many women have more than 16 pairs of shoes. In contrast, retirement age consumers, especially men, see little need to buy new shoes unless their existing ones fall apart. The silver pound remains a challenge.
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