The chief executive of eco-friendly footwear firm Shaka Shoes says the company is well-positioned to take advantage of the current consumer shift from formal to casual footwear and is anticipating growing demand for its products.
“Consumers today are more health conscious than ever and looking for value, comfort and style as casual footwear becomes mainstream,” said Steven Wilmarth, CEO and CFO of Shaka Shoes. “This is being driven by a number of factors, including the shift from dressy to casual footwear and changing demographics as the baby boomers, those born between 1946 and 1964, get ready for retirement and begin to further influence buying patterns.”
He adds that Shaka Shoes, which are designed to mould to the wearer’s feet for long-lasting comfort, “are positioned to take advantage of this trend.”
In 2009, US footwear sales were US$42.4bn, representing a 3.6% decline over 2008, according to the NPD Group.
“Inventory levels are now more in line with consumer demand, which is adding to revenue stability, and retailers have needed fewer markdowns to sell excess goods,” the company said.
“In 2008 and 2009, many consumers traded down from high-priced sport performance footwear to more affordable leisure styles, a trend that is expected to continue in 2010 as more casual designs and dressing is expected to better meet consumers’ needs.”
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