IMPRESSIONS from a Cross-section

The footwear industry comprises shoes, sneakers, luxury footwear and athletic footwear among others. One of the major factors that has shaped the growth of this segment is the rising demand for trendy yet comfortable footwear among all age groups.

There has been an increase in demand from fashion-conscious customers. And although the fashion awareness among consumers is increasing, the major contribution still is from classic styles.

The growth in the Indian fashion and lifestyle market has given a momentum to the footwear industry. From being a basic need-based industry, the footwear industry has become an evolving fashion and style category.

The factors shaping the growth of this segment include increasing number of athletes; an urge to stay fit; avoid injuries during exercise; health consciousness among people; and changing lifestyles.

Increasing demand for sports shoes and designer shoes are responsible for the major growth of the footwear market. The last few years have seen a leap in the percentage of Indians connecting to the internet, which coupled with increasing penetration and awareness of social media channels like Facebook, Instagram, Twitter have connected the urban and rural people to the latest trends and designs in the footwear segment. This has led to an increase in the demand for designer footwear in all sectors in the Indian market.

The rising demand for fancy, trendy and yet comfortable footwear among all age groups is a key factor driving the global footwear industry. Digitisation, rising disposable incomes, urbanisation combined with increased exposure to international trends have led to the segment evolving into a highly specialised industry.