PUBLISHER: The Business Research Company | PRODUCT CODE: 1664319
PUBLISHER: The Business Research Company | PRODUCT CODE: 1664319
Footwear stores are establishments dedicated to the distribution and supply of various footwear items, encompassing shoes, boots, sandals, and slippers. These products are crafted from a diverse range of materials such as wood, canvas, jute, plastic, and rubber. Footwear serves multiple purposes, including providing protection and support for the feet during activities such as walking, making a fashion statement, and expressing personal style.
The primary categories of footwear stores include athletic and non-athletic. Athletic footwear is specifically designed for sports and physical activities, available in materials such as leather and non-leather (rubber). These footwear items cater to men, women, and children, and are distributed through various channels, including offline retail stores and online retail platforms.
The footwear stores market research report is one of a series of new reports from The Business Research Company that provides footwear stores market statistics, including footwear stores industry global market size, regional shares, competitors with a footwear stores market share, detailed footwear stores market segments, market trends and opportunities, and any further data you may need to thrive in the footwear stores industry. This footwear stores market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The footwear stores market size has grown strongly in recent years. It will grow from $236.05 billion in 2024 to $253.97 billion in 2025 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to fashion trends and style preferences, changing consumer lifestyles, economic factors and disposable income, marketing and branding strategies, seasonal and holiday shopping trends.
The footwear stores market size is expected to see strong growth in the next few years. It will grow to $325.46 billion in 2029 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to focus on sustainable and ethical practices, rise in health and wellness awareness, e-commerce competition and omnichannel strategies, customization and personalization trends, innovative retail concepts and store experiences. Major trends in the forecast period include health and comfort-centric designs, collaborations and limited edition releases, integration of technology in in-store experience, virtual fitting rooms, omnichannel retail strategies.
The growing expenditure on branded luxury goods is projected to drive the growth of the footwear store market in the future. Luxury items are defined as goods or services regarded as elite in society, including haute couture clothing, accessories like jewelry and high-end watches, branded shoes, luggage, and more. Consumers are increasingly inclined to purchase luxury products for the prestige and comfort they offer from renowned online and offline retailers. For example, in July 2024, data from Bank of America, a US-based financial institution, revealed that spending on luxury goods outside of the US is on the rise, with June 2024 exceeding June 2023, which recorded an increase from 8% in June 2022 to 16%. Consequently, the rising expenditure on branded luxury items is expected to propel the footwear store market.
The burgeoning involvement in sports activities is anticipated to significantly contribute to the expansion of the footwear stores market. Sports encompass structured physical activities or games involving skill, competition, and defined regulations, often pursued for recreation, fitness, or competitive purposes. Footwear stores play a pivotal role in catering to athletes and sports enthusiasts, providing specialized shoes designed to enhance performance, comfort, and prevent injuries during sports engagements. Notably, a survey conducted by the National Federation of State High School Associations (NFHS) in September 2023 revealed a remarkable increase in high school sports participation, totaling 7,857,969 individuals during the 2022-2023 season. This marked growth of nearly 240,000 individuals, signifying a rise of over 3% compared to the preceding year's figures. Consequently, the upsurge in sports participation stands as a driving force propelling the footwear stores market.
Innovations in footwear stores are becoming a significant trend in the footwear retail market. Leading companies in this sector are establishing digitally enabled stores to maintain their competitive edge. For example, in June 2024, True Fit, a US-based AI-driven sizing platform, introduced Fit Hub. This platform uses generative AI to enhance the shopping experience by providing precise fit recommendations. It synthesizes extensive fit and size information from multiple sources, including product descriptions, user-generated content, and sales data. Fit Hub integrates insights from True Fit's fashion genome, which encompasses data from 82 million shoppers and 29,000 brands, to deliver customized size suggestions on retailers' product pages.
Prominent companies within the footwear stores market are dedicated to revolutionizing customer shopping experiences by leveraging cutting-edge tools, particularly Augmented Reality (AR) technology. The AR tool represents an innovative technology overlaying digital elements, such as images, text, or 3D models, onto the real-world setting in real time. An illustrative example is Amazon Fashion's introduction, in June 2022, of the 'Virtual Try-On for Shoes' feature within its iOS app. This augmented reality (AR) functionality enables customers in the US and Canada to virtually try on shoes from brands such as New Balance and Adidas. Users can effortlessly visualize how the shoes appear by activating the 'Virtual Try-On' feature and pointing their device's camera at their feet. This AR tool aims to elevate the presentation of products for brands while assisting customers in making informed purchasing decisions by virtually trying on shoes through an immersive experience.
In March 2022, Authentic Brands Group (ABG), a prominent brand management company in the United States, finalized the acquisition of Reebok from Adidas AG for an estimated $2.5 billion. This strategic acquisition by ABG is geared toward establishing the Reebok Design Group (RDG) in collaboration with SPARC Group, focusing on the development of innovative footwear and apparel. Adidas AG, a renowned German manufacturer specializing in shoes, clothing, and accessories, previously owned Reebok, an American fitness footwear and apparel brand. Through this acquisition, ABG aims to harness Reebok's potential by partnering with SPARC Group to spearhead design, development, and innovation initiatives, positioning Reebok as a leader in groundbreaking footwear and apparel offerings.
Major companies operating in the footwear stores market include Adidas AG, Nike Inc., PUMA SE, Under Armour Inc., Skechers U.S.A Inc, Geox S.p.A, VF Corporation, Crocs Inc., ECCO Sko A/S, Wolverine Worldwide Inc., FILA Holdings Inc., ASICS Corporation, Bata Corporation, Timberland, Reebok International Limited, New Balance Athletics Inc., Clarks, Foot Locker Inc., DSW Inc., Caleres Inc., Deckers Brands, Famous Footwear, The Aldo Group Inc., Steve Madden Ltd., Camper, Aerosoles, Saucony, Converse Inc., Salvatore Ferragamo S.p.A., Jimmy Choo Ltd., ALDO Group
Asia-Pacific was the largest region in the footwear stores market in 2024. The regions covered in the footwear stores market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the footwear stores market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The footwear stores market includes revenues earned by entities such as shoe stores, vendor-owned outlets, family shoe stores, and department and discount stores. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Footwear Stores Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on footwear stores market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for footwear stores ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The footwear stores market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.