Research On Global Markets
Syndicated Market Research Report
Footwear markets all over the world are affected by the rapid pace of urbanization and constantly changing consumer style preferences. Urbanization has taken almost every economy by storm and is a leading factor for the growing demand for consumer goods, footwear being one such good. Demand for shoes will continue to rise in a majority of developed countries. Producers must, however, pay attention to the developing countries where a large increase in demand is forecasted. The footwear market in India is a combination of both traditional and modern manufacturing sector. With the adoption of technology Indian footwear industry to drifting more towards a modern retail structure, the modern sector is confined to the cities, while the traditional footwear segment is spread across the country. After China, India is the largest footwear manufacturer in the world. The Indian fashion and lifestyle market has boosted the footwear market as will. Footwear is no longer a basic need, but a style category. The 21st-century consumer is more knowledgeable, hence more demanding. This poses a challenge to shoemakers in the country as they need to quickly adapt to the constantly changing consumer preferences. They need to be abreast with the latest trends and re-think and adapt their products based on consumer demands. Major challenges faced by the footwear market in India: 1. Efficient and timely delivery of products 2. A higher percentage of customer initiated returns 3. No stock rotation leading to outdated stock 4. Multiple warehouse and store management 5. Managing offline and multichannel 6. Effective utilization of stock 7. Increased cost of reverse logistics 8. Seamless management of cancellations and returns At first, these challenges may seem daunting for the footwear market in India, however, it presents an opportunity for differentiation and companies can present themselves as agile and efficient producers.
0 Comments
|
Archives
December 2019
Categories
All
|