MarketResearch.com, the business intelligence marketplace, announced the release of a study "The US Footwear Market" by Kalorama Information. According to this study, annual percentage gains for the domestic footwear market slowed after holding steady for two consecutive years. This market, consisting of casual, athletic, dress and rugged shoes, only gained $500m in the last year, bringing it up to $39.3bn, an average annual growth rate of 2.5 per cent over the past five years.

Table 1-1:

The US Market for Footwear: Retail Sales by Category, 1995-2004 (in billions of dollars)
 
 
 
CAGR
 
CAGR
CAGR
Category
1995
1999
1995-1999
2004
1999-2004
1995-2004
Casual
$16.6
$19.8
4.5%
$22.9
3.0%
3.6%
Athletic
11.8
12.4
1.2
13.8
2.2
1.8
Dress
5.5
4.2
-6.5
3.4
-4.1
-5.2
Rugged
1.7
2.9
14.3
4.3
8.2
10.9
Total
$35.6
$39.3
2.5%
$44.4
2.5%
2.5%

CAGR = compound annual growth rate
Source: Packaged Facts

While the market has remained virtually flat for the past several years and is projected to remain stagnant, competition for market share is expected to become more intense. Fashion designers, like Donna Karan, Ralph Lauren and Tommy Hilfiger, are creating casual and athletic shoes in order to provide a complete line of luxury clothing. In retaliation, footwear marketers are extending their lines to include scarves, handbags, sunglasses, jewelry and apparel.

Although first time brand buys will continue to require a fitting and therefore discourage online purchases, the Internet is making strides in the business to business market. The marketer-retailer relationship will become vastly more efficient through online negotiations. Sites like www.shoe.net make shoe collections available to retailers who can, in addition to other services, view samples, buy products or track purchases.

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SOURCE MarketResearch.com

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