Footwear in Western Europe is gradually picking up in 2017 after suffering through two economic downturns. Moreover, rapidly developing e-commerce demands quicker services and an omnichannel approach and growing social and environmental awareness is influencing the market. With strong health consciousness, athleisure is driving sales of sports footwear, delivering solid value growth. Sports footwear is anticipated to continue its strong development, thus supporting footwear category value growth
Western Europe has been marked by two major economic downturns in the early 21st century defining footwear for most countries. Footwear has been on a decline for over 10 years, only returning to positive development in 2015, and growing marginally.
In 2017 the leading five footwear players in Western Europe were responsible for 25% of the region’s sales, up eight percentage points from 2012. Sportswear giants Nike and adidas accounted for 18% of the gains, benefiting from strong brand awareness and continued improvement of functional and comfortable sports footwear.
With a 3% CAGR over 2012-2017, sports footwear has demonstrated the most distinct development. Rapidly growing athleisure not only popularised sports footwear, but made sneakers fashionable. In 2017 sneakers were not only comfortable but also a fashion statement in much of Western Europe.
Footwear has experienced rapid digitalisation, with internet retailing accounting for 16% of total value sales in 2017. Similar to e-commerce, the evolution of social media is also shaking up the market. Many footwear brands have increased their social media activity and use social platforms to their advantage.
Footwear in Western Europe is anticipated to post a CAGR of 1% over 2017-2022 with mainly positive unit price and volume growth. Sports footwear will remain the biggest contributor to footwear growth forecast, recording a CAGR of near 4% over the same period.
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