The footwear segment is one of the most popular product categories in the retail industry. The footwear segment offers a variety of products according to demographic patterns, including men’s, women’s, and children’s shoes. Europe is among the regions that have a strong influence on the global fashion industry.
The footwear segment in Europe reached $96 billion in 2021, which increased 20% from $80 billion in 2020. The segment grew owing to the growth in the retail product categories, following the recovery in demand in the post-COVID-19 pandemic period globally. Sales in brick and mortar stores and online stores increased as they resumed operations after being under restrictions for almost two years. Consumers also began spending more on lifestyle products. Thus, the footwear segment is expected to grow substantially due to the recovery from the pandemic.
The footwear segment in Europe recorded negative growth of 1.9% compound annual growth rate during 2017–2021.
The growth of retail footwear was negligible on account of stiff competition from online stores and multiple outbreaks of the pandemic that brought the world to a standstill for nearly two years, which led to a decline in demand. Germany, Italy, the UK, Russia and France are the top markets in this region. The footwear segment accounts for 19% of the retail market size for the clothing and footwear segment in Europe.
Europe offers many notable footwear brands. The major companies that have a strong presence in the region include Gucci, Adidas and Puma. A variety of brands such as Reebok, Kappa, Prada and Louis Vuitton also exert influence on the footwear industry in Europe.
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