Emerging Shopping Trends in Footwear Retailing: A Post-Covid Anatomy
By Multidev Technologies · PUBLISHED August 24, 2021
The growth of the worldwide footwear market would be upheld by various driving factors such as the increase of household incomes, social media posts on Instagram and Tik Tok, the pentup demand for sneakers, outdoor activities and the huge popularity of designer shoe labels. While the global spur of footwear products is unquestionable, there are many challenges footwear retailers must reckon with and update with the current footwear industry trends .
In addition to the global health pandemic, there are many factors of uncertainty:
- The changing consumer behaviors and business models;
- The proclivity towards remote working, touch-less transactions, remote shopping;
- The fast-changing nature of technologies;
- Shorter life cycles of products and line cards;
- The fast decline of brick-and-mortar stores, etc.
- The rise of smart apparel, and wearables.
It’s no mystery that the footwear industry has also been impacted by the COVID-19 saga, and
the trends for 2021 promptly reflect that reality. As stores closed and customers turned to online
interfaced stores, businesses across multiple industries were required to quickly adapt.
As we embrace store reopening with caution, footwear retailers must rethink their holistic contingency plans and business models.
Footwear Industry Trends 2021
Trend #1 : Rethinking consumer touchpoints: Fast-Forward Digitization
Just like many other verticals, footwear organizations are also embracing digitization at a faster pace than many other market segments due to the pent-up demand for online sales, social media selling, dropshipping and ecommerce at large.
New digital retail behaviors, such as Zero contact shopping, and virtual shopping arrangements and Live-stream shows, will keep on expanding the fan base. In the US, footwear retailers like DSW, as well as brands like Old Navy and American Eagle, have begun to offer curbside pick-up options. This trend is most likely to remain after the pandemic exit, as purchasers have more opportunities to make safe shopping away from crowded venues.
From the supply chain to the point of purchase, digital technology breakthroughs are changing the way mainstream shopping was conducted in the pre-COVID-19 era. The most noticeable change is the way the customer journey is being redesigned to suit B2B and B2C consumers. What we initially thought to be contingency measures to alleviate temporary lockdown and quarantine, is starting to settle as a long term paradigm shift.
Trend #2 : Omnichannel Strategies are a Must After Living in a Virtual World
Connecting customer experiences through both digital and physical platforms can give features that drive sales and make customers happy. Especially considering the rise in mobile gadget usage for shopping, numerous customers would enjoy being able to conduct research and learn about products through websites or apps on their phones before making a purchase.
Through omnichannel strategies, customers can see which items are available in their local stores and request pick-up orders remotely. Fashion orders make up 28% of total on-line sales; with 22%
revenue growth in the last year alone; while the apparel segment took 66% of the market share compared to the footwear vertical which represents 14%.
Trends in 2021 may spin around revivals and nostalgic pieces, and to best meet the essential for these on-trend products and speedy delivery, fast fashion companies must measure their supply chains, designers, and distributors, maximizing affordability coming from economies of scale. At the same time, they must also combat common critiques of the section as detrimental to the environment and workers.
Discover the Footwear industry trends that will impact the footwear business in 2021.