In the past decade, the global footwear industry has undergone a dramatic transformation. The industry is now worth an estimated $1 trillion, and is projected to continue to grow at a rate of 3-4% per year. The majority of this growth is coming from Asia, where demand for luxury and high-end footwear is growing at an exponential rate.
The footwear industry is highly fragmented, with a large number of small and medium-sized businesses competing for market share. In order to succeed in this rapidly changing and highly competitive industry, companies must be agile and adaptable, and must constantly innovate to stay ahead of the curve.
In this blog, we will take a closer look at the footwear industry and explore some of the major trends and challenges that it is facing.
