FOOTWEAR CONSUMER 2003- INCORPORATING GLOBAL TRENDS TO FORESIGHT FOOTWEAR MARKET
FOOTWEAR CONSUMER 2003-
INCORPORATING GLOBAL TRENDS TO FORESIGHT FOOTWEAR MARKET
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. More than working to keep a share in the local market, companies will have to think forward and understand where their consumers are located, regardless of the political borders that separate them. 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.
Another element to bear in mind in this scenario is without any doubt the growing ageing population, which is not a recent phenomenon, and will continue to intensify. Countries from different continents are starting to face the consequences of having an older population, and although this is much more associated to developed western countries such as the United States or Europe, emerging and developing countries won’t be immune to the trend. On the contrary, China, for example, is one of the nations that will have to start to act upon this as it will be hit with the consequences of a rapidly ageing population over the next few years.
The only certainty one might have about the future is that it will be uncertain. However, despite all the unpredictability that lies in the years to come, one thing can be taken for granted: consumer preferences and behaviours will evolve as a result of changes in demography, economic growth and with the massification of information and communication. Businesses, companies and brands cannot ignore these facts, and it will be vital for them to act in anticipation instead of reacting quickly.