Swot Analysis Of Footwear Industry

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Consumer buying behavior is gigantic, and highlights the significance of the customer at the focal point of the marketing universe. Each customer is unique with different needs, desires, wants, buying choices and preferences that are influenced by habit, and choice that are in turn tempered by psychological and social drivers that affect purchase decision processes. Considering Indian footwear market, formal Shoes segment is not well differentiated. In shoes segment, after casual footwear, formal shoes segment has the highest market share. But there is a stark difference in the consumption pattern in this segment. Though this segment is easy for a brand to penetrate in for business, but revenue making is a challenge. Marketing and customer
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Major companies such as Bata, Reliance Footprint, and Liberty have been proliferating their stores in a frenetic pace in the last few years. Bata, Metro, Louis Philippe, Reliance footprint, Woodland are some of the major brands preferred by customers for formal shoes. At present Bata is opening hundred stores on a yearly premise. In the most recent 3 years Metro Shoes have opened around 200 stores, while Louis Philippe has thought of 20 to 25 outlets in that time. Reliance Footprint has been opening around 9 stores for every month and for Woodland the yearly rate is around 60 to…show more content…
This means that customers either prefer purchasing a high priced branded product or just any formal shoe that fulfils their basic need. The manufactures of formal shoes has not been able to differentiate their product from the rest of the brands. Approximately 8 to 10 percent of an Indian’s income is spent on accessories and footwear. The young and employed are gradually going for branded footwear from the unorganized sector. Generally, men purchase a pair every 3 months while ladies do as such following several months. Ladies customers normally prefer factors like good color, and design, as well as heel sizes. Men, then again, regularly go for shoes that don't slip, are produced using waterproof materials, and are biodegradable. People now change their shoes in tune with the changes in their clothes. A lot of customers are these days more stressed over looks of shoes over other factors like resilience and ease. This is all the more common amongst office goers, party goers. Thus, the wide variety of options in formal shoe segment needs details marketing and targeting for a brand to grow. Understanding why a customer would choose a particular brand over another will give us clarity on how to direct the marketing activities, pricing or even the product design. There is a huge segment of consumers, who if properly targeted on the basis of their

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