Increasing Online Sale to Augment Growth of Global Athletic Footwear Market

 


Aerobic and sports shoes have emerged as the most popular category of athletic footwear, while they facilitate better flexibility and movement. This footwear is composed of synthetic fibers which provide the users a tight fit and high comfort level. These shoes are ideal for running and other athletic activities. The footwear has become highly popular among men and women who're engaged in almost any physical exercise.


Market Dynamics


Launch of new products is likely to propel growth of the global Athletic Footwear Market over the forecast period. For instance, in September 2020, Nike launched Nike (M), a collection of maternity sports clothing to suit all stages of pregnancy and post-birth, including a sports bra that allows wearers to breastfeed.


Increasing online sale is expected to offer lucrative growth opportunities for players in the global athletic footwear market. For instance, Columbia Sportswear Company reported a 40% decline in overall net revenues in its July 2020 quarterly earnings report, due simply to pandemic-related store closures. However, the business's e-commerce sales increased 72% weighed against the year-ago period.


Emergence of Covid-19 has also led to closure of businesses worldwide, thereby hindering growth of the global athletic footwear market. For instance, in September 2020, Columbia Sportswear closed its stores in downtown Seattle due to Covid-19 and lack of footfall.


The footwear segment of global Athletic Footwear Market is split into Men's and Women's categories, in addition to Aerobics/Gym wear category. This category provides a large selection of athletic shoes for men and women and also Aerobics/Gym wear shoes. This footwear is composed of varied materials such as for example suede, nubuck, canvas, rubber and synthetic material for men and women respectively.


In the recent past, the demand for athletic footwear has declined. For instance, in November 2020, based on point-of-sale data from The NPD Group, athletic footwear sales declined in the mid-single-digits in the 3rd quarter while active-wear saw a low single-digit increase in the period,


Competitive Analysis


Major players operating in the global Athletic Footwear Market include, NIKE, Inc., New Balance Athletics, Inc., Skechers USA Inc., ASICS Corporation, Adidas AG, Puma SE, Wolverine World Wide, Inc., Under Armour, Inc., VF Corporation, and FILA Korea, Ltd.


September 2020: Nike's Jordan Brand released a style collection that lets Snapchat users dress up their Bitmoji avatars with virtual sportswear and buy it online to wear in real life.


Comments

Post a Comment

Popular posts from this blog

Cross Linked Polyethylene Market Growth Accelerated by Increasing demand from pipe and cables application

Image
Cross Linked Polyethylene Market Cross linked polyethylene (XLPE) is a polyethylene thermoplastic material that has been cross linked using irradiation, peroxide, or silane. It has advantages such as high density, tensile strength, and resistance to moisture absorption and chemicals. It finds extensive use in insulation of power cables, water pipes, and insulation of wires and cables. The global Cross Linked Polyethylene Market is estimated to be valued at US$ 6590.3 Mn in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: Increasing demand from pipe and cables application is one of the key trends that is expected to drive the growth of the global cross linked polyethylene market over the forecast period. Cross linked polyethylene has preferable properties such as high density, tensile strength, and excellent resistance towards chemicals that make it suitabl...
Read more

Soda Ash Is An Essential Component Of Water Treatment

Image
  Soda Ash According To Coherent Market Insights, The Global Soda Ash Market Size Was Valued At USD 11000.00 Million In 2021 And Is Anticipated To Witness A Compound Annual Growth Rate (CAGR) Of 6.2% From 2022 To 2030. The manufacturing industry is constantly evolving, driven by advancements in technology and the demand for more efficient and sustainable processes. In this era of innovation, one substance that has emerged as a game-changer is Soda Ash . Also known as sodium carbonate, soda ash is a versatile compound with numerous applications across various sectors. From glass manufacturing to water treatment, textiles to detergents, soda ash plays a pivotal role in revolutionizing the manufacturing industry. Glass is an indispensable material in our daily lives, finding applications in windows, bottles, and numerous other products. Soda Ash acts as a vital ingredient in glass manufacturing, playing a critical role in the production of clear and durable glass. It acts as a fl...
Read more

It Is Incredibly Effective To Create A Cohesive Online And In-Store Experience Using Smart Beacons

Image
  Smart Beacons A little Bluetooth gadget called a Smart Beacon sends out signals repeatedly so that other devices, such as your smartphone, may pick them up. Every 1/10th of a second, the beacon sends a radio signal that consists of a mix of letters and numbers. When a signal is received, all smartphones "see" beacons, just way mariners see light from a lighthouse. Beacons transmit campaigns, facilitate navigation, and gather customer information. One of the best methods to connect with your customers in the real world is through beacons. They use a person's location to initiate and distribute proximity campaigns on their phone. Beacons also make it possible to gather vital information about client behaviour and raise engagement levels. Utilizing a compatible application or operating system, a Smart Beacon is a proximity device that transmits a signal using Bluetooth low energy proximity sensing technology. When a smartphone or tablet enters the range of the beacon, ...
Read more