After seeing solid retail volume and current value growth rates during most of the review period, footwear saw a significant decline in 2020, due to the arrival of COVID-19 in the country. The virus led the government to impose a lockdown, during which all non-essential retail outlets were closed, including apparel and footwear specialist retailers, sports goods stores and department stores, which had a significant negative impact on sales of footwear.
The closure of store-based retailers led to notable switches in distribution in value terms in 2020. Whilst store-based retailers saw share declines, e-commerce and direct selling saw notable increases in share, as these distribution channels were still accessible to consumers even during the lockdown.
Footwear maintained a fairly fragmented competitive landscape in 2020, led by domestic players Fábricas de Calzado Andrea (Andrea) and Flexi (Flexi). The former mainly targets low- to middle-income consumers with innovative and fashionable designs of standard quality at accessible prices, whilst the latter offers a higher price positioning.
After seeing a significant decline in 2020, footwear is set to see a strong rebound in sales in both retail volume and current value terms in 2021. COVID-19 is likely to have less of an impact in this year, mainly due to less disruption to the operations of store-based retailers.
Casual footwear is set to see faster recovery than formal footwear, because consumers will see some permanent changes to their lifestyles due to COVID-19. For instance, many people are expected to continue to work from home, if not all the time, then at least a few days a week.
Due mainly to the dynamic growth of e-commerce in 2020, in the forecast period the further development of social media and e-commerce is expected by players to capitalise on this trend. For instance, it is likely that more footwear brands will form alliances with delivery services such as Rappi or Cornershop to provide another consumption channel to their consumers.
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Understand the latest market trends and future growth opportunities for the Footwear industry in Mexico 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 Mexico, 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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