News Archive
Retailers told to be more imaginative
FOOTWEAR retailers have been told they need to be more imaginative to win customers from high street stores.
Research by market analysts Verdict - part of the Datamonitor Group - said despite rising costs, footwear shops are unable to raise prices due to the high level of competition in the market - particularly from clothing retailers.
Retail analyst Carol Ratcliffe said: 'Specialists have fought against the growing competition by opening new stores to fuel sales growth but, with sector profitability sliding, this is compounding their problems.
"Footwear retailers need to focus on improving sales densities in their existing stores before adding new outlets. While many have already invested in developing new store formats, they need to accelerate these efforts to catch up with the rising standards set by clothing specialists.'
FOOTWEAR retailers have been told they need to be more imaginative to win customers from high street stores.
Research by market analysts Verdict - part of the Datamonitor Group - said despite rising costs, footwear shops are unable to raise prices due to the high level of competition in the market - particularly from clothing retailers.
Retail analyst Carol Ratcliffe said: 'Specialists have fought against the growing competition by opening new stores to fuel sales growth but, with sector profitability sliding, this is compounding their problems.
"Footwear retailers need to focus on improving sales densities in their existing stores before adding new outlets. While many have already invested in developing new store formats, they need to accelerate these efforts to catch up with the rising standards set by clothing specialists.'
Tough five years ahead - new report
INDEPENDENT retailers have been told to prepare for a tough five years after a new report predicts footwear sales are expected to plummet by seven per cent.
The research, by Mintel, said the number of pairs bought annually in the UK is expected to drop to 216million pairs - with a definite shift away from cheaper, budget shoes.
A third of women questioned admitted they would pay more for quality shoes that will last - which researchers say should provide hope for the independents.
Researcher Katrin Magnussen said: 'I can't see an immediate demise of value shoes. The shoe wear market seems to be increasingly polarised; women are happy to pay extra for good quality shoes that last years, whilst at the same time they admit to being happy to buy value shoes that are discarded after each season."
INDEPENDENT retailers have been told to prepare for a tough five years after a new report predicts footwear sales are expected to plummet by seven per cent.
The research, by Mintel, said the number of pairs bought annually in the UK is expected to drop to 216million pairs - with a definite shift away from cheaper, budget shoes.
A third of women questioned admitted they would pay more for quality shoes that will last - which researchers say should provide hope for the independents.
Researcher Katrin Magnussen said: 'I can't see an immediate demise of value shoes. The shoe wear market seems to be increasingly polarised; women are happy to pay extra for good quality shoes that last years, whilst at the same time they admit to being happy to buy value shoes that are discarded after each season."
