Changing landscape of UK footwear market charted in - leatherbiz: Lea Leatherbiz

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Changing landscape of UK footwear market charted in new report

02/05/2002

Despite its status as a basic necessity, footwear’s share of total UK consumer expenditure fell from 1% to 0.7% between 1992 and 2001 - the main reason being the fall in prices resulting from the shift in production to low cost countries. A pair of shoes also now costs on average 8% less than it did in 1995.

These are two of the findings of ‘Footwear’ - a new report on the state of the UK footwear market from the research organisation Key Note. The report notes that the supply sector has remained fairly stable in recent times and that some consumers are now shifting to more expensive designer and quality footwear. This is indicative of value growth in a mature market, where sales in volume terms are fairly constant.

Key Note anticipates that, over the next five years, the market will experience an stronger period of expansion than has been seen in recent times, with overall growth forecast at 18.3% for 2002 to 2006, against just 1.7% in 1997 and 2001.



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