Consumer demand changes focus as a result of COVID-19 in 2020. Notably, there is considerably lower demand for formal footwear in 2020, such as dress shoes made from leather and women’s high heels typically worn to work.
The athleisure trend continues strengthening in Malaysia, allowing performance and sports-inspired footwear to perform better in 2020. For example, fifth leading brand Skechers opened its second lifestyle store in 2020.
Footwear players turn to cross-collaboration designs to appeal to consumers in 2020. For example, sixth leading brand Puma partnered with Emoji to create a new line of footwear in 2020.
Footwear is set to return to strong rates of current retail value growth post-pandemic, which may slightly slow over the forecast period. Notably, the recovery of footwear may be slowed by limitations for impulse buying which boosted sales pre-pandemic.
The forecast period is expecting a growing number of e-commerce players, with some even turning to e-commerce collaborations to strengthen distribution. For example, the Hypershoe brand reached an agreement with GrabMart to make its offerings available on the website to assure efficient home delivery to consumers.
Discounts and promotions will continue to serve as a competitive strength in the forecast period. E-commerce is set to continue experiencing dynamic growth, with Zalora, Shopee and Lazada all providing cyber sales periods, such as 11.
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Understand the latest market trends and future growth opportunities for the Footwear industry in Malaysia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Footwear industry in Malaysia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Footwear research and analysis database.
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