High Heels Footwear Market Trends, and Forecast, 2019 – 2027February 24, 2021
High Heels Footwear Market: Introduction
- High heels footwear as the name suggests is a type of footwear in which the heels are maintained at a higher position than the toes. These footwear are not just comfortable and fashionable but also makes the wearer appear taller.
- High heels footwear are usually worn by women and comes in different colors, shapes, and sizes. High heels are also worn in many dance forms such as stiletto and ballroom dance. However, continuous usage of high heels footwear can lead to injury and pain.
- The market for high heels footwear is expected to increase during the forecast period because of changing lifestyles and rise in disposable income.
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Key Drivers and Restraints of the Global High Heels Footwear Market
- The purpose of footwear has changed with the evolution in the fashion industry and it is no longer limited only to protect the feet. The cost of high heels footwear depends on cost of raw material, labor cost, and design cost, which leads to its higher price.
- Buying behavior of customers is changing rapidly and products trending on social media platforms have huge demand. The influence of social media on consumers is helpful in driving the market.
- Many manufacturers are providing customized footwear. The size, shape, color, and material is selected by the customer and the footwear is specially made for them. This kind of service is likely to further drive the market.
- Many manufacturers have started an online business and promote their products on e-commerce sites and on social media platforms. The influence of the fashion industry cannot be overlooked. Consumers usually prefer brands and products worn by their favorite celebrity or model. Many manufacturers replicate the same footwear and sell them to consumers by taking advantage of this trend.
- Young people prefer wearing high heels to work and social events. The increasing number of social events, parties, and gatherings also leads to the rise in demand for high heels footwear.
- However, many people are not in favor of high heels as it causes several injuries such as vein swelling and bunions. In Carmel, California high heels over 2” and bearing surface of less than one inch can be worn only after obtaining a permit. This may act as a restraint to the high heels footwear market.
- Manufacturers can work on improving the product to ensure that consumers are not prone to injuries by wearing high heels footwear. Innovation in the product is projected to have a positive impact on the high heels footwear market.
- The high heels footwear market is expected to rise during the forecast period due to increasing disposable income, innovative footwear designs, and endorsement of various brands by celebrities.
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Asia Pacific to Lead the Global High Heels Footwear Market
- Geographically, the global high heels footwear market can be divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The market for high heels footwear is highly fragmented
- The market in Asia Pacific is anticipated to grow at a rapid pace during the forecast period. Developed regions demand quality high heels footwear whereas developing regions being price sensitive, demand low priced footwear.
- Manufacturers provide various variants to suit all requirements. The global high heels footwear market is competitive due to the presence of large number of global and regional players. Major players adopt various strategies such as product portfolio expansion to enhance their position in the market. Companies in emerging markets focus on expanding their customer base.