Footwear was more impacted than apparel by the COVID-19 crisis in 2020 as consumers spent less time taking part in outdoor activities (particularly during Q1) to avoid the virus. Consumers also became more frugal in their spending and, given that footwear has higher average unit prices than apparel, consumers were less inclined to spend on it.
Vans continues to enjoy dynamic growth within footwear, with the good performance of the company in line with the overall rise in the popularity of the ‘Dad shoe’. Millennials and generation Z consumers are increasingly purchasing designs that have a comfortable fit and design, such as large, spongy heels.
Taiwan currently has one of the lowest birth rates in the world. Indeed, according to Taiwan’s Department of Household Registration, the fertility rate for childbearing age women dropped to 1.
Nike and adidas have seen dynamic growth in recent year and are set to continue enjoying strong demand over the forecast period as the athleisure and comfort trends continue in Taiwan. The companies frequently launch new lines to drive interest, such as adidas’ new Yeezy design, designed by Kanye West, and Nike’s Air Force 1 Taiwan sports footwear range.
Sales of footwear via e-commerce will continue to grow in popularity in Taiwan over the forecast period, with leading brands investing heavily in offline-to-online strategies, upgrading in-store shopping experiences to involve technology, and offering consumers a more convenient and enjoyable e-commerce experience. For example, Nike and adidas are expected to increasingly focus on their e-commerce operations over the coming years.
In the recent review period, consumers started to consider functional footwear as an essential item in sportswear, perceiving that high quality products have a positive effect on sports performance and help prevent injury. In the coming years, functionality within footwear will continue to be in high demand, with a specific focus on healthcare.
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Understand the latest market trends and future growth opportunities for the Footwear industry in Taiwan 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 Taiwan, 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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