This study reflects on the main global consumer trends with special attention to the key changes for the footwear industry and the foreseeable impacts on companies, brands, and consumers by 2030.
In a society with an economy characterized by change and volatility, the researcher team engaged on a reflection based on the trends that will impact on the world over the next few years. As a result of this exercise, insights on economic, demographic, social and cultural trends were gathered while considering their implications not only from a global point of view, but also focusing on the impacts in the footwear industry in particular.
This report is focusing on topics such as globalization, ageing and a growing middle class – trends undeniably in course – bearing in mind that these will occur in a global economy, in which access to information becomes more democratized and where consumers all over the world contact with the same messages, images and knowledge. Technology is developing fast, and access to the internet and major media channels results in consumer empowerment, impacting on the way buyers interact with the brands they acquire the products from. This also gives companies and brands the opportunity to develop an emotional bound with existing and potential clients all over the globe, greatly supported by social networks and online platforms.
While economic growth continues, a new middle class is starting to appear in emerging economies and this will have significant implications for demand, consumption and ultimately in production. Businesses will have to understand where the potential to grow their activity is and how and where can they potentially gain more clients. New markets in distant countries might become key destinations for brands and companies, resulting in diverse locations with customers with difference preferences and a varied demand with implications in the design of the products, which will require a constant attention devoted by companies to the product’s requirements.
Please login to KRC and read the full report from here: https://lfmeab.org/krc/resources/market-watch
Leathergoods And Footwear Manufacturers & Exporters Association of Bangladesh
