WHY CHOOSE THE FOOTWEAR INDUSTRY?
The Indian footwear industry is growing at a rate of 16% annually. The market, dominated by the unorganized sector by a staggering 85% is now seeing a shift towards the organized sector, which has now risen to 15%. The reason being, that the consumers are getting more and more brand conscious and turning towards the organized sector for their footwear needs. Because of this behavioural change, the growth in the organized footwear market alone has been 27%, making it not only one of the most promising sectors for investment, but also one of the most profitable ones.
Even when it comes to the consumer, the purchase patterns have grown remarkably. Courtesy of the more lifestyle centric attitude, footwear is now considered a fashion symbol and not simply an essential utility.
It is not surprising that for the consumer, owning branded footwear has now become a fashion statement. And many local MBOs now prefer opening exclusive showrooms to keep up with the changing needs of their customers.