Enjoy complimentary customisation on priority with our Enterprise License!
The online footwear market is estimated to grow at a CAGR of 8.89% between 2022 and 2027. The size of the market is forecast to increase by USD 34.03 billion. The growth of the market depends on several factors, including the rising popularity of digital payment systems, the rising online spending and smartphone penetration, and the growing eCommerce industry.
This report extensively covers market segmentation by product (non-athletic footwear and athletic footwear), end-user (men, women, and children), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, Download Report Sample
The rising popularity of digital payment systems is notably driving E-commerce footwear market growth, although factors such as the presence of counterfeit products may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Online Footwear Market Driver
The rising popularity of digital payment systems is a key factor driving the growth of the E-commerce footwear market. The availability of a wide range of merchandise, online payment options, online tracking of shipments, 24/7 customer support, larger Internet reach, and cheaper costs have increased the demand for online shopping. Currently, customers have several payment options, such as credit cards, cash-on-delivery (COD), Internet banking accounts, demand drafts, and cash-on-order. Consumers also rely on payment service providers such as PayPal, which allows them to pay without revealing their personal information.
Moreover, digital payment services allow consumers to make payments at the point of sale through a mobile device. The transactions can be completed in a few steps on the phone. Large players like Amazon.com, Google, MasterCard, and PayPal are investing heavily in technology. Digital payment applications are being used innovatively to improve the consumer experience. Mobile wallets such as Apple Pay, Android Pay, and Samsung Pay will become a standard feature on new smartphones, which, in turn, will increase the growth of mobile payments during the forecast period.
Significant Online Footwear Market Trend
The advent of smart and customized footwear is the primary trend in the global online footwear market growth. Smart and customized shoes are trending in the market. Customization and personalization are key strategies that vendors have been adopting to diversify their product portfolio. The introduction of innovative and technically advanced smart and customizable footwear also attracts and motivates consumers to invest in them. Smart footwear, such as step-counting shoes, is gaining popularity among consumers engaged in athletic and fitness activities.
In January 2018, Under Armour launched UA HOVR Phantom Connected shoes that tracks, analyzes, and store virtual information about running metric. Therefore, the high level of customization and increased demand for innovative footwear will propel the growth of the E-commerce footwear market during the forecast period.
Major Online Footwear Market Challenge
The presence of counterfeit products is a major challenge to the growth of the market. Over the past few years, counterfeits of leading women's footwear brands have flooded the market. These products use original brand names and are priced lower than the original products to attract customers. Therefore, counterfeit products are causing a considerable dent in the market shares of leading popular brands by damaging their reputations. However, these products are not long-lasting because they are made of poor-quality raw materials. Sometimes the low quality of nylon and polyester can affect consumers who have sensitive skin and are prone to allergies.
Moreover, China is a key source of counterfeit products, which are shipped to developed markets such as the US, the UK, Japan, South Korea, and Germany, and to emerging markets such as Brazil and India, where they are primarily sold online. For instance, according to Organization for Economic Co-operation and Development (OECD), the footwear industry is the second-largest market in the top trade of counterfeit goods. This is expected to hamper the growth of the market during the forecast period.
Key Online Footwear Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Online Footwear Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
bata.in - The company offers online footwear under the brand's Power, North Star, and Bubble Gummers. Also, under this segment, the company offers footwear, bags, and apparel.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the non athletic footwear segment will be significant during the forecast period. The market segment includes casual, fancy, and formal/office footwear. The growth of the global online footwear market by non-athletic footwear is because of the rising demand for products from this category globally.
Get a glance at the market contribution of various segments Request a PDF Sample
The non athletic footwear segment was valued at USD 23.90 billion in 2017 and continue to grow by 2021. The global online footwear market by non-athletic footwear is expected to grow during the forecast period. This is mostly because of the high demand for non-athletic footwear compared with athletic footwear. The demand for trendy non-athletic footwear from Generation Z and millennials, backed by the rise of eCommerce companies, will drive the growth of the market segment during the forecast period. The high demand for leather footwear for formal and official purposes is further strengthening the growth of the market. For instance, the size of the leather footwear market in India is expected to double during the forecast period compared with 2020. This is expected to strengthen the growth of the global online footwear market by non-athletic footwear during the forecast period.
For more insights on the market share of various regions Request PDF Sample now!
APAC is estimated to contribute 60% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC is experiencing the fastest CAGR with respect to revenue in the online footwear market due to rising urbanization, which has prompted people to adopt different lifestyles and cultures. Steady economic development in countries such as Australia, New Zealand, Japan, China, India, Singapore, Malaysia, Vietnam, and South Korea has improved the purchasing power of consumers who are now willing to spend more on lifestyle products. Furthermore, the rapidly increasing rate of urbanization in APAC is driving the growth of the online footwear market; this results in increasing dual household income that enhances the purchasing power of people for recreational activities. Besides, APAC will maintain the highest growth during the forecasted period due to the high population, online retail growth, increased disposable income, a wide array of product offerings, and growth in online retail. China and India are the most populous countries in the world and are expected to be the major markets for the online footwear market by volume during the forecast period.
In 2020, the outbreak of COVID-19 positively impacted the regional market. However, the lockdown restrictions were lifted in the second half of 2020 due to the initiation of vaccination drives across APAC. This has led to the resumption of transportation and logistics activities in the region, ensuring smooth delivery and distribution of online purchased products to buyers. Moreover, most of the vendors selling footwear in the region have shifted to the online business model, offering their products through various eCommerce platforms such as Amazon.com, Alibaba Group, and Flipkart. Such factors will increase the market growth during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Online Footwear Market Scope |
|
Report Coverage |
Details |
Page number |
165 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.89% |
Market growth 2023-2027 |
USD 34.03 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.98 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 60% |
Key countries |
US, China, India, Indonesia, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
adidas AG, Alibaba Group Holding Ltd., Amazon.com Inc., Bata India Ltd., Clarks Reliance Footwear Pvt. Ltd., Dolce and Gabbana S.r.l., eBay Inc., Fila Holdings Corp, Flipkart Internet Pvt. Ltd., Geox Spa, Kohls Corp., Macys Inc., Michael Kors Switzerland GmbH, Net Distribution Services Pvt. Ltd., New Balance Athletics Inc., Nike Inc., Pentland Brands Ltd., PUMA SE, VALENTINO Spa, and VF Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.