Published Date : Feb 11, 2016
It is not surprising that the apparel and fashion industry has been flourishing in Europe given that it is home to some of the most celebrated fashion capitals of the world. The footwear market is one of the most prominent segments of Europe’s fashion industry with its resilience to the economic turmoil that has gripped the region. Compared to other segments of the fashion and apparel sector, the footwear market has been relatively less vulnerable to the ongoing macroeconomic developments thanks to its reputation as an affordable luxury. It has also been perceived to be a better investment. Nevertheless, the footwear market in Europe has not been immune to ongoing economic fluctuations.
Here’s a look at some of the key trends prevalent in the footwear market in Europe.
Not so long ago, the clothing market in Europe made the most of the “disposable fashion” concept and while this trend has waned in the clothing segment, it has begun gaining prominence in the footwear market in Europe.
Austerity measures and the recent recession have dampened spending on footwear in Western Europe. However, Eastern Europe seems to be unperturbed by these developments and is actually recording uninterrupted growth in the footwear segment.
A growing number of companies in the fast fashion segment have been focusing on the footwear market in Europe, a trend that is likely to gain steam in the coming years and intensify the current degree of competition in the market.
Attaining equilibrium in the pricing structure is a major challenge for the footwear market in Europe. Consumers are looking for products that meet their demands of luxury commodities as well as utilitarian design and this means that shoemakers need to come up with a middle path when it comes to pricing their products