The Footwear Market During the Early Centuries

The footwear market during the early centuries has been constantly evolving while adapting consumers’ needs. In the past shoes were used for functional purposes, their purpose in the modern society has changed. The esthetical style of shoes has taken the equal share of consumer interest as functionality that was a predominant factor for the choice of shoes. European countries such as Italy, Spain, and France dictate the fashion trends of the European footwear market thus creating specific shoe brand image for consumers. The main buyers in the European footwear market are the teens, young people and young professionals/graduates both men and women . Consumers are more aware of the brand image the producers create in these segments. Shoes became self-identification tool that helps individuals to distinguish themselves form the masses. Shoes can represent an individual’s lifestyle, habits or profession.

An analysis of the initial need for shoes in daily life in the European footwear market demonstrates that the total revenues have increased by 1.7% between the year 2008 and 2012. Analytics expect that during the five-year period 2012 - 2017 the footwear market in Europe will continue to grow more and it will reach 81.11bn Euros by the end of 2017 . These numbers prove the fact that nowadays modern society perceives shoes not only as ‘feet protection’ but also as tool for presenting one’s personality and individuality. Therefore, shoe stores offer a wide variety of shoe brands. The EU is the second largest market for footwear and represents one third of the global market value (CBI, 2010). In 2008 the Europeans spent approximately 49 Euros per pair of shoes and bought 4.2 pairs (CBI, 2010). European customers are supplied with myriad ...

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...ing certain product, the theory of Consumption Values will be presented. According to J. N. Sheth et al. (1991), this theory is mostly used for predicting consumption behaviour as it describes and explains this purchase phenomenon. In later chapters when analysing consumer approach this theory will be explained in more detail. To add, approaches of consumer behaviour will be discussed as an additional tool. It is believed, it would be useful to know what approaches consumers have when applying the consumption criteria to make purchase.

These theories can be used separately to investigate brand image and consumer behaviour. To sum up the Brand Equity concept, theory of Consumption Values and approaches of consumer behaviour is expected to improve the deeper understanding about consumer’s purchase behaviour effected by the brand image.

1.4. Objectives of the Thesis