With Covid-19 ongoing, retailers have had to pivot their business models and adapt to the current consumer demand. Edited has released two reports this week covering the footwear and maternity markets. Consumers desire a shoe that is stylish but still practical, and the maternity-wear sector indicates opportunity as comfort dressing rises.
Comfort footwear to be prioritised
The mass market of the UK and US combined, have seen arrivals in the footwear market drop 34 percent year-on-year (YoY) since July. Due to Covid-19 retailers decided to focus on comfortable footwear buys such as slippers and sneakers.
Sandals made up an unseasonably high proportion of fall lines to date. Despite the transition into the colder season, the majority of sandals are selling out for styles such as flats and other comfortable looks with a sporty aesthetic.
However, the ongoing pandemic is not entirely to blame for the phasing out of heels. They have been on the decline since last year and are unable to compete with casual footwear styles, there are currently 44 percent less heeled footwear YoY.
According to Allied Market Research, the footwear market will reach 530.3 billion dollars globally in the next seven years.
The current state of the maternity market
Q2 saw the US maternity market contract 38 percent YoY and 23 percent quarter-on-quarter (QoQ). The UK dropped 36 percent YoY and 55 percent QoQ. Despite the lack of investment, demand was still apparent in this region, with sellouts surging.
In the US, activewear maternity styles have increased by 58 percent compared to five years ago. Recently, Nike launched its first maternity collection.
However, the overall market remains relatively unexploited with maternity products making up 0.5 percent of the total activewear market.
According to Marketwatch, the maternity market is supposed to reach 24.5 billion dollars by 2025, which is an indication for non-specialist retailers to discover this category.
Photo credit: Edited