Footwear

The footwear market consists of the total revenues generated through the sale of all types of men's, women's and children's shoes. The market is valued at retail selling price with any currency conversions calculated using constant annual average 2009 exchange rates.

The US footwear market has seen its growth decelerate in recent years yet the forecast predicts that the market will stop decelerating and maintain slow growth.

Market Value

The US footwear market had total revenue of $62.11 billion in 2009, representing a compound annual growth rate (CAGR) of 3.1% for the period spanning 2005-2009.

In comparison, the European and Asia- Pacific markets grew with CAGRs of 3.4% and 4.4% respectively, over the same period, to reach respective values of $77.17 billion and $33.52 billion in 2009.

Market Distribution

Clothing, footwear, sportswear and accessories retailers’ sales proved the most lucrative for the US footwear market in 2009, with total revenues of $38.03 billion, equivalent to 61.2% of the market's overall value. In comparison, sales of Department Stores generated revenues of $12.5 billion in 2009, equating to 20.1% of the market's aggregate revenues.

Market Forecast

The performance of the market is forecast to decelerate, with an anticipated CAGR of 2.3% for the five year period 2009-2014, which is expected to drive the market to a value of $69.48 billion by the end of 2014. Comparatively, the European and Asia-Pacific markets will grow with CAGRs of 3% and 4.4% respectively, over the same period, to reach respective values of $89.58 billion and $41.66 billion in 2014.

Five Forces Analysis

The footwear retail market is highly fragmented, but large retail groups hold a strong position in the market wielding bargaining power over suppliers. Rivalry is strongest between these large players.

As footwear is a basic necessity, and thus involves high sales volumes, buyer power for individual consumers is reduced considerably. Much of the footwear sold...