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eCommerce and online shopping apps are creating long-term revenue opportunities for footwear manufacturers post the COVID-19 crisis. Since high competition in the Asia Pacific footwear market is a constant challenge for brands, stakeholders should collaborate with designers, material experts, and skilled craftsmen to introduce new footwear collections. Due to the highly competitive nature of the APAC market, sustainability & recyclability of raw materials, innovative designs, comfort & strategic pricing should form key focus points for footwear brands. Companies should establish strong distribution networks to scale business in eCommerce and invest in last-mile delivery in rural & report areas of countries such as India.

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Stiff Competition in Asia Pacific Footwear Market: Boon or Bane?

The highly competitive nature of the Asia Pacific footwear market is catalyzing innovations in shoes and sandals in terms of designs, new materials, and attractive embellishments. Although offline sales are prominent in the Asia Pacific footwear market, analysts at Transparency Market Research (TMR) are predicting exponential growth in online sales due to the growing influx of eCommerce, social media, and online shopping apps.

Brands are developing their own websites so that customers can directly buy footwear from credible platforms. The growing YouTube and fashion influencer community on social media is grabbing the attention of both footwear brands and customers. With the expansion of the eCommerce industry, the Asia Pacific region is undergoing a transformation, wherein local brands are making inroads in new geographies by offering customized shopping experiences to their international customers.

Opening Up of Shopping Outlets Bolstering Footwear Sales amid COVID-19 Crisis

Manufacturers in the Asia Pacific footwear market are maintaining optimum inventory levels for raw materials and other products to ensure business continuity. They are adopting contingency planning to overcome fluctuating demand and supply trends amid the ongoing COVID-19 crisis. Brands are catering to on-demand products and services for customers to offer them a personalized shopping experience.

Heavy discounts and offers on footwear are catching the attention of buyers. Such lucrative offers are helping to pull the public back to the malls, shopping centers, and retail stores, thus bolstering footwear sales. Moreover, increasing footfalls at shopping places due to revival of tourism and travel is acting as a driver for the market.

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Sustainability: Advantage for Footwear or Disadvantage for Environmental Footprint?

Apart from big names in the athletic shoes category such as Nike, Adidas, and Puma, startups in the Asia Pacific footwear market are tapping value-grab opportunities in the online business. This is evident since the market is projected to climb an astonishing revenue growth throughout the forecast period. The trend of Internet first footwear brands is a fast growing phenomena in the Asia Pacific footwear market.

Several private label brands are scaling business opportunities through social media and eCommerce sales. The trend of vegan shoes and bags is catering to niche requirements of buyers. The trend of fast fashion has brought manufacturers of footwear under the scrutiny of regulatory authorities to lower their environmental footprint. Many individuals are becoming conscious about sustainable and renewable materials used in footwear. Since recycling of raw materials for footwear can sometimes lead to added costs, shoe brands are tapping into alternative sustainable models such as water-less dyes for footwear in order to conserve energy and water.

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Advancements in Manufacturing and Cheap Labor Benefitting Luxury Footwear Brands

Luxury footwear brands are eyeing value-grab opportunities in the Asia Pacific footwear market. Developing countries such as India and Bangladesh & mature markets including Australia and Japan are catching the attention of luxury footwear brands. Rise in per capita income of people in India and constant upgrade in the lifestyle of the people in Australia is contributing to market expansion.

Footwear products such as sneakers and shoes are expected to be the major factor behind the growth of the overall footwear market in Asia Pacific during the forecast period. Advancements in the field of shoe manufacturing in Bangladesh, Vietnam, and Indonesia are benefitting luxury shoe brands. The availability of cheap labor is a major factor contributing to market growth. In addition, the adoption of latest fashion trends in luxury footwear is grabbing the attention of buyers. In terms of consumer group, the APAC market is anticipated to be dominated by the female consumer group.

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Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research firm that offers Market Analysis Reports and business consulting. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.

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