Market research reports, consulting: Global Market Insights Inc.

Home > Consumer Goods and Services > Apparel, Footwear and Accessories > Footwear > luxury footwear market

Luxury Footwear Market Trends

Report ID: GMI6284 Published Date: July 2023Report Format: PDF
Download Free Sample
Summary
Table of Content

Luxury Footwear Market Trends

A notable trend in the market is the fusion of luxury fashion with sneaker culture and streetwear. High-end brands are introducing luxury sneakers and casual footwear collections, catering to the rising demand for versatile & comfortable options. This blending of aesthetics with streetwear elements appeals to younger consumers and reflects a shift toward a more relaxed & urban-influenced style in luxury footwear.

Digital exclusivity in the luxury footwear market is the strategic utilization of digital platforms to offer unique and personalized experiences to consumers. Luxury brands create exclusive collections and limited-edition releases, which are accessible only through their online channels. This approach aims to attract tech-savvy consumers seeking convenience, while also providing a sense of exclusivity and urgency. Digital platforms enable luxury footwear brands to directly engage with their audience, thereby tailoring marketing efforts and offering bespoke customization options. These factors foster brand loyalty and cater to the desires of digitally connected luxury consumers.

Author: Avinash Singh, Sunita Singh
Frequently Asked Question(FAQ) :

How big is the luxury footwear market?+

The market size of luxury footwear reached USD 25.9 billion in 2022 and is poised to expand at a CAGR of 5.6% between 2023 and 2032.

Why are sneakers gaining traction in luxury footwear industry?+

The sneakers segment held 34% market share in 2022, due to the preference among broad & younger consumer base of fashion-conscious individuals who seek comfort without compromising on style.

What is the size of North America luxury footwear market?+

North America market with a revenue share of 31% in 2022, primarily driven by the rising disposable income, a strong economy, and a high standard of living.

Who are the key players in luxury footwear landscape?+

LVMH, PVH, Chanel, Capri Holding, Kering, Dr. Martens, and Mulberry Group.

Luxury Footwear Market Scope

Related Reports

Buy Now

Premium Report Details

Download Free Sample