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Supply of sports shoes will increase, increasing demand

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Supply of sports shoes will increase, increasing demand

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As new methods and resources are found to make sports shoes and the demand of sports shoes increasing, there will be a shift of the market equilibrium to the right of the demand/supply curve.

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Ok, looks like you all have more than enough sources.

Start working on the analysis- dd n ss, price, income elasticity, market structure etc.

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Nike boasts a function called NIKEiD. Buyers will be able to customize their sport shoes or accessories with their own designs. This means that they will have designed shoes never made or seen before in the market - a shoe that is owned only by them.

I feel that this is a great move and a business tactic by NIKE to encourage people to purchase from them. The materials used are no different but the prices may vary, hence they may earn more from the sales from NIKEiD.

As the demand for these sport shoes increases, they have to constantly supply consumers with new designs. This is one good approach - to allow customers to personalize their sport shoes. Currently, many people are using these sport shoes as lifestyle shoes to go out. Such models includes the RosheRun, Nike Flyknit and the AirMax. With this function, NIKE does not have to worry about coming up with new designs to suit the users, as they will design it themselves. There will be a constant supply of sport shoes.

http://www.nike.com/us/en_us/c/nikeid

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Increase sales of sneakers and sports shoes

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Increase sales of sneakers and sports shoes

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Demand for sports shoes increases due to the change in the weather and the strong trend of a healthy lifestyle.

Determinant of demand - Taste and preferences

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Sneaker & Activewear Sales Look Strong for Q1 2015

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Sneaker & Activewear Sales Look Strong for Q1 2015

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Sneaker & Activewear Sales Look Strong for Q1 2015 This Website uses first and third party cookies to better understand your preferences, to offer you an optimal user experience, to keep track of web statistics, to collect your feedback, to provide online advertising, to enable the integration of third party plug-ins and to keep the Websites operating as smoothly as possible.

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Strong sales of soccer athletic footwear in US

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Strong sales of soccer athletic footwear in US

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Increasing demand for sports related shoes leads to higher sales figures due to the recent FIFA World Cup.

Determinant of demand - Taste and preferences

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Soccer Footwear and Apparel Sales Performing Strongly in the U.S., The NPD Group Reports

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Soccer might not be top of mind when it comes to considering the most popular sports in the United States, but when it comes to athletic footwear

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Adidas increasing supply of running shoes

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Adidas increasing supply of running shoes

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Increasing supply will lead to a lower price for sports shoes as the demand remains fairly netral.

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New Adidas Running Shoes made from ocean trash

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New Adidas Running Shoes made from ocean trash

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Supply will increase as there are now newer resources to make the shoes out of

Determinant of supply - Factor resources

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Awareness is growing as to the extent to which we have polluted the oceans of the world, but there is a lot of work to be done.

Now Adidas has come up with a novel way of re-using some of the tons of plastic which is choking our waterways. The sports apparel company has manufactured a new running shoe made from recycled plastic, writes Brooks Hays for UPI.

Activists collect fishing nets to make running shoes

The latest design has not yet been named, but its upper is made completely from ocean waste, or more specifically yarns and filaments from illegal fishing nets.

Adidas collaborated with Sea Shepherd and Parley for the Oceans on the project. Activists on board the Sea Shepherd, an environmentalist ship, collected the nets as they tracked an illegal poaching vessel in the waters off the coast of West Africa.

Eric Liedtke, a member of the executive board at Adidas, said: "We are incredibly excited to join Parley for the Oceans as they bring the cause of the oceans to the attention of the United Nations. Adidas has long been a leader in sustainability, but this partnership allows us to tap into new areas and create innovative materials and products for our athletes."

Other products are planned, and the idea is to raise awareness of the problem. Adidas hopes that the project will inspire long-term solutions.

Further plans for partnership

"At Parley for the Oceans, we want to establish the oceans as a fundamental part of the debate around climate change," said Cyrill Gutsch, founder of the New York-based conservation group. "Our objective is to boost public awareness and to inspire new collaborations that can contribute to protect and preserve the oceans."

"We are extremely proud that Adidas is joining us in this mission and is putting its creative force behind this partnership to show that it is possible to turn ocean plastic into something cool," Gutsch added.

The shoe was unveiled at the United Nations headquarters in New York last week, where Adidas and Parley revealed future plans for their partnership.

Adidas also told attendees that it would end the use of plastic bags in its retail stores.

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New Adidas Running Shoes Made From Ocean Trash

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Awareness is growing as to the extent to which we have polluted the oceans of the world, but there is a lot of work to be done. Now Adidas has come up with a novel way of re-using some of the tons of plastic which is choking our waterways.

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Demand will increase as the Indian military is wanting to change their traditional military shoes with more fanciful, modern sports shoes. Price will eventually increase as the demand for the sports shoes increase.

Determinant of demand - Taste and Preference

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So the Indian army wants its jawans to look and feel better in brand new footwear that fits this age and time.

Unistar shoes

Till now the army was using footwear that was commissioned back in the days of second world war. But these brown canvas shoes don't really find fancy with the current crop of jawans who prefer branded sports shoes with their casual attire. Even the quality of the PT shoes has not increased much since the days of its entry into service.

But now the vintage World War II style PT shoes may be on their way out according to a report in The New Indian Express.

"Today's jawans don't like to wear those shoes. They are paid good salaries and wear smart sneakers when they are in civil dress. In fact, we give our unit's basketball and cross-country teams branded sports shoes from our own regimental funds. Providing better quality uniform, proper shoes and functional equipment is our topmost priority. The present defence minister is equally committed to the cause," a Colonel from an infantry batallion told The Indian Express.

The Army, which currently procures around 20 lakh shoes from the Ordinance Factories Board every year, is waking up to the fact that not all physical activities can be done with same shoes.

A few years back they had tried to introduce a simillar change but it didn't work out. The current standard issue shoes have an official lifespan of only 6 months, the army also aims to double or triple this with new shoes.

The last time, army tried to introduce new shoes, then BJP MP Maneka Gandhi threw a spanner into their plans as the shoes shortlisted by the army were made of cow leather. After her tantrums, then defence minister A K Anthony cancelled the procurement order.

But now, bolstered by a support of defence minister Manohar Parriker, the army jawans may finally get new age sports shoes; and may be they will not be made from cow leather but most modern technology too.

Various shoes are under consideration by different units and a contract may be lurking in the near future.

(Images for representational purposes only)

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Good Bye Canvas Shoes, Welcome Cool Sports Shoes! Army Planning To Switch To Modern Footwear

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So the Indian army wants its jawans to look and feel better in brand new footwear that fits this age and time. Unistar shoes Till now the army was using footwear that was commissioned back in the days of second world war.

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- Ok all, looks like you guys are going into retail. Retail can be quite broad so I suggest you pick a good otherwise you'll run into problems later.

- For example, the demand for functional clothing (e.g. Uniqlo) is going to be very different from the demand for branded stuff (e.g. Burberry's). Same for the price elasticity and income elasticity of those goods.

- So my suggestion is to keep it simple. Stick to one good or one type of good.

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Demand and supply increases

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Nike recorded revenue growth across most of its geographic markets and product lines during the quarter ended in May.

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Increase in the demand for footwear

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Footwear is a garment wore in feet. The various materials used in manufacturing footwear are leather, jute, wood, plastic, textiles and rubber. The footwear business is a huge and increasingly diversified business, driven by changing lifestyle and fashion trends. Brand awareness and need for comfort are also fuelling the growth of the global footwear market size. Though the global economic crisis hampered the demand of footwear market in last few years, the global market size of footwear increased over the period due to increased demand from emerging nations.

Rising demand for different types of footwear products are paving new opportunities for many manufacturers. With rapid increase in eco-friendly footwear, as consumers favor biodegradable materials that do less damage to the environment than other fabrics, the global footwear market is expanding.

Also, the increasing popularity of sports such as cricket, football, soccer, hockey and tennis, contribute to the growth of global footwear market. To maintain high quality, manufacturers have to make sure that all products comply with existing and relevant standards.

For more information visit: https://www.psmarketresearch.com/market-analysis/footwear-market

Based on footwear type, the global footwear market can be classified as athletic footwear and non-athletic footwear. Athletic footwear includes aerobics shoes, running shoes, sports (cross training), walking shoes, soccer shoes, tennis shoes, cricket footwear, seasonal boots and others.

Non-athletic footwear includes boots, casual, formal and rugged, and waterproof footwear. Some of the athletic footwear brands include Adidas, Asics, Fila, K-Swiss, New Balance, Nike, Puma, Reebok, and Saucony.

On the basis of consumer group, global footwear market can be segmented as men, women and kids. The growth of consumer footwear is driven by fashion trends, increasing consumer spending power and leisure goods.

Based on retail distribution, the global footwear market can be classified as store based shoes and non-store based shoes. Store based shoes include specialty apparel stores, mass discounters, discount shoe stores, department stores and chains, and others.

Whereas, non-store based shoes include teleshopping, internet and catalog based.

Some of the factors driving the growth of global footwear market include rising number of younger working population, increasing purchasing power of consumers, growth of fashion conscious population, and rising retail culture.

Request for Table of Content: https://www.psmarketresearch.com/enquiry-form.php?enqid=140&title=TOC

The global footwear market is witnessing change in consumer preferences, led by style and innovation in design, rising application of wearable technology in footwear, advertisements, celebrity endorsements, health benefit related shoes, and others.

The growing popularity of online footwear retail market (e-commerce) generates further growth opportunity for global footwear market. Whereas, the growing popularity of local manufacturers and pirated products in developing countries pose a challenge to the established players in the global footwear market.

Geographically, Asia-Pacific region is the largest market for footwear. Within Asia-Pacific, where China has large-scale manufactures operating in the industry, the emerging countries have number of small level manufactures of footwear.

The main factors leading to the growth of footwear market in Asia-Pacific are large population base, large pool of skilled professionals, and low cost of labor. The footwear market in India is growing at a healthy rate attributed to the rising consumer preference towards custom-made or specifically designed footwear, coupled with increasing household income.

Some of the competitors in global footwear market include Timberland Company, Genesco, Inc., Geox SpA, Wolverine Worldwide Inc., Skechers, USA Inc, Nike Inc., Crocs, Under Armour Inc., Esprit Holdings Limited.

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Global market research on footwear market development and demand forecast to 2020 shared in new research report

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Footwear is a garment wore in feet. The various materials used in manufacturing footwear are leather, jute, wood, plastic, textiles and rubber. The footwear business is a huge and increasingly diversified business, driven by changing lifestyle and fashion trends. Brand awareness and need for comfort are also fuelling the growth of the global footwear market size.

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SINGAPORE - Retail sales slumped in January from a year earlier largely because the Chinese New Year holidays fell in different months in the two years, but economists warned that rising interest rates mean households servicing mortgages will have less to spend on consumption.

Retail sales fell by 5 per cent in January compared with a year ago, the Department of Statistics (DOS) said yesterday, driven by a 42.1 per cent decline in spending on food and beverages, with Chinese New Year feasting taking place in January last year but not until February this year. Spending at the petrol pumps also fell sharply in January - by 27.5 per cent - as global oil prices collapsed.

Because of the calendar mismatch, UOB economist Francis Tan said January's figures were not enough to set the tone for the retail sector. "To get a broader picture on the actual figures for the sector, we could take both January's and February's figures and get an average," he said.

The total retail sales value in January was estimated at S$3.7 billion, the DOS said, down from S$3.9 billion in the same month last year.

Economists said consumer spending had also been curbed by widespread expectations that the United States Federal Reserve would raise borrowing costs by the middle of the year, translating into higher local interest rates and, in turn, higher home loan outlays.

"The expected hike of interest rates by the Fed affects discretionary spending by households. The higher interest rates imply higher mortgage payments, and households may be cutting back on their private consumption spending because of that," said Credit Suisse economist Michael Wan.

The three-month Singapore Interbank Offered Rate, the main benchmark against which the majority of home loans are priced, began the year at about 0.45 per cent, but had risen to 0.67 per cent by the end of January and has since jumped past 0.9 per cent.

As higher rates crimp spending, the retail sector is hoping the buzz generated by Singapore's 50th anniversary celebrations will boost tourist arrivals this year. "Tourist spending is important to generate sales for the retail sector. Last year, tourist arrivals to Singapore fell due to global economic uncertainty and the MH370 incident led to a large fall in tourists from China. However, the figures should come back up this year," said Mr Tan.

However, growth in the sector could be limited by the tight labour market, economists warned.

"We are worried about the current tightening of labour market conditions for retailers. If there is an undersupply of staff in that sector, sales would also be affected. Retail stores have to consider a change in their service models, come up with innovative methods to increase their staff-to-customer ratios," said Mr Tan.

Among the other segments, retail sales of recreational goods, apparel and footwear, medical goods and toiletries, and at supermarkets, department stores, minimarts and convenience stores declined between 7 and 15.6 per cent in January from a year earlier. In contrast, motor vehicle sales rose 33.2 per cent, while sales of telecommunications apparatus and computers rose 25.9 per cent.

From a month earlier, January retail sales were up 4.8 per cent.

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January retail sales slump 5% on holiday effect

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SINGAPORE - Retail sales slumped in January from a year earlier largely because the Chinese New Year holidays fell in different months in the two years, but economists warned that rising interest rates mean households servicing mortgages will have less to spend on consumption.

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Declining demand for shopping in department stores in Singapore

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A typical weekday evening in town in a major department store will see empty floors and sometimes more staff than shoppers.

What ails retail in Singapore, especially in big department stores?

Major department stores are vocal in their complaints.

Metro Holdings chalked up what it called a "disappointing level of sales" that resulted in losses being incurred by its new department store at The Centrepoint in the final quarter of last year.

Isetan (Singapore) not only reported a net loss of $3.1 million for the year ended Dec 31 on the back of higher rents and slower sales, but also complained of the "challenging and competitive environment". The department store operator said that other than its new store at Jurong East, other outlets registered lower sales for last year compared with 2013.

It ceased its own retail operations at Wisma Atria earlier this month, preferring to rent out the premises instead.

Over at Al-Futtaim Group, the Dubai-based owner of Robinsons and John Little closed the Marks & Spencer outlet at The Centrepoint on March 29, after 28 years there. It had opened in 1987, formerly known as St Michael.

It will also close the John Little stores at Marina Square and Tiong Bahru Plaza to "focus manpower and resources on enhancing its Plaza Singapura and Jurong Point stores", the group said.

Just how bad is the situation?

Figures from the Department of Statistics show that sales at department stores fell 12.4 per cent in January, compared with a year ago. Total retail sales value has also fallen.

The value is estimated at $3.7 billion in January, a drop from $3.9 billion a year ago. Department store sales form part of total retail sales value.

Despite falling numbers, the retail sector continues to be important. As at Dec last year, it employed 173,000 workers, about 4.8 per cent of total employment.
More shopping options
EXPERTS say one reason for the lacklustre retail scene is the fall in visitor arrivals.

The Singapore Tourism Board reported a 3.1 per cent fall in visitor arrivals to 15.1 million last year, lower than its projection of 16.3 million to 16.8 million. This is also the first drop since 2009.

Nine out of Singapore's top 15 visitor-generating markets, including China, had falling visitor numbers. The first two months of this year saw only 2.4 million visitors, a 5 per cent dip compared with a year ago.

Department stores also face the challenges of rising rent and labour crunch, like all businesses in high-cost, labour-scarce Singapore.

On top of that, department stores face unique challenges.

Nanyang Technological University's Dr Lynda Wee, an adjunct associate professor specialising in retail management, says shoppers have more options to spend these days: Low-cost travel and a strong Singapore dollar make it cheaper to spend overseas; while online retailers and pop-up stores offer a wide variety of goods, often at lower prices.

SIM University's Dr Guan Chong, head of the marketing programme at the School of Business, says cities in the region, such as Bangkok and Hong Kong, are competing to be a regional shopping destination. Singapore's high prices and strong dollar do not help.

Indeed, Mr Kesri Kapur, Al-Futtaim Group's head of business in Asia, said the group's stores in Thailand and Malaysia see good business. Apart from price, he thinks service staff perform better in those countries, as they have a more positive attitude, which helps drive some of the sales.

Mr Kapur is not alone in saying poor sales service is one reason for poor performance in department stores here.

Insead's Professor Amitava Chattopadhyay, an expert in branding and consumer behaviour, compared shopping in Singapore with shopping in the United States.

Over in the US, places like high-end fashion retailer Nordstrom and outdoor gear and apparel retailers REI and LL Bean have no-questions-asked return policies, as well as retail staff who know several brands across one product category, for instance.

He said: "In most of the rest of the world I'm familiar with, such as the US, or even in other parts of Asia, you walk into the store, and you have sales people who are responsible for the section, like shoes or appliances.

"In Singapore, it's by brand in many stores, such as Takashimaya or Tangs. Recently, I chose a few pairs of shoes and when I looked for help, they told me: 'I'm dealing with brand X so I can help you with this pair, but for the other brands you have to find another sales person.'"

At Nordstrom, he would get recommendations across brands from one staff member.

He said: "There is a better understanding of what target customers want from the shopping experience in the US, but here it's become 'I have this thing that I want to peddle'. The quality of service is poor. Part of it is structural. Retailers are like gigantic real estate agents, they aren't really interested in the customer's experience."

Singapore still has to get the basics right, such as great service and differentiated shopper experiences, said Dr Prem Shamdasani, associate professor of marketing at the National University of Singapore Business School.

While some may argue that the problem is one of excess supply, Ms Alice Tan, Knight Frank Singapore's head of consultancy and research, begs to differ.

Singapore retail space per capita is 11.8 sq ft per person.

This is 38.2 per cent lower compared with Hong Kong, a strong retail competitor with a famed reputation, at 16.3 sq ft per person.

This could explain why retail sales per square metre of floor area are still healthy.

Figures released last month showed retail sales per sq m of floor area of the overall retail trade industry - including personal goods, and transport and household equipment, for instance - grew by 4.8 per cent over 2012 to $12,600 in 2013.

Retailers of personal goods registered the highest retail sales per sq m of $14,700, a 4.8 per cent increase over 2012.
Bargain hunters
BUT department stores are not benefiting from the increase. Instead, they are bearing the brunt of a change in shoppers' habits.

Dr Dianna Chang, marketing lecturer at SIM University, said Singapore consumers seek bargains, even for luxury goods, which means that sales for hedonic products, including luxury goods, are likely to fall.

Consumers not only shop online, they also aggregate purchases and buy in bulk overseas to get discounts.

UOB economist Francis Tan added that other alternative sources of retail, such as trade fairs and IT, and consumer technology exhibitions like the annual IT Show and Comex, have taken a slice of the pie.

They often offer goods at discounted prices, a lure for the bargain-hunting Singaporean.

He said: "People do their shopping there, releasing pent-up demand for the past two to three months, so the next few months will be dry for the brick-and-mortar retailers.

"Since such fairs started, they changed the retail landscape. You can't just blame online retailers."

Online shopping may be catching on, but has hardly become mainstream. A government survey conducted from October 2012 to September 2013 showed that a third of 11,000 households had bought things online. They spent an average of $260 a month on online purchases, or 4 per cent of what they spent in total.
Bespoke shopping
WHAT is happening in department stores here mirrors trends overseas.

The trend of middle-class shoppers shrinking in markets such as the United States, Canada and Europe, has seen mid-level retail chains such as Sears and JCPenney closing stores.

Prof Shamdasani said retailers have to shift towards offering more value online and offline.

"There is increasing evidence that e-commerce - and especially m-commerce (mobile commerce) with the high mobile phone penetration - is enjoying strong growth in both mature and emerging markets," he said, adding that retailers need to look at ways to better integrate physical and online shopping.

For example, retailers can use technology to offer "more interactive and bespoke shopper conveniences", such as letting customers try out and customise products, and arranging delivery.

The Al-Futtaim Group, for instance, is one of those paying attention to consumers' wants, leading to Robinsons getting positive results in the last few months.

It will introduce online shopping with Robinsons by the end of this year, and for Royal Sporting House and Marks & Spencer next year, a model where consumers place an order and choose to collect it in store or via home delivery.

Professor Chattopadhyay says the solution is understanding what a consumer is looking for. "Retailers have handed responsibility to the brands, but they could create a different relationship with brand owners."

He said other things that can be done include training staff to be more knowledgeable about products and brands, and dealing with customers.

Policies such as allowing staff to buy at a discount to get a better understanding of the products and brands they sell, would also help.

Such policies would also create store loyalty for the staff.

Mr R. Dhinakaran, managing director of Jay Gee Melwani Group, who is also vice-president of the Singapore Retailers Association, said retailers with deep pockets and effective business strategies would survive, but they would have to adjust to the new reality of modern retail and subdued consumption. He said relying only on the Singapore market would be dangerous, for instance, so retailers have to look beyond the market here.

It is convenient to blame high rental, or oversupply of retail space, or shoppers' penchant for discounts, for falling retail sales.

But as the experts surveyed for this article suggest, retailers should also take a hard look at themselves and evaluate if they are offering shoppers an experience they want.

It may be convenient to organise a store according to concessionaries' wares and group them by brand for example.

But why would a shopper who needs a pair of sports shoes want to go to a department store and walk around six different brand segments, engage with six different staff, repeat her needs six times, and wait six times for staff to find her shoe size, wasting much time and effort in the process?

She would save time and get better service going to one boutique shoe shop that offers shoes from six brands.

Department stores in Singapore have to go beyond letting brands peddle their own products and organising themselves for their own convenience, to putting the customer first.

That means providing a great shopping experience.

Until that happens, department store sales are destined to continue to fall.
rachaelb@sph.com.sg

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Department stores and disappearing shoppers

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A typical weekday evening in town in a major department store will see empty floors and sometimes more staff than shoppers. What ails retail in Singapore, especially in big department stores? Major department stores are vocal in their complaints.

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MIEC Group Project brief (April 2015 Semester) (1)