DUBLIN, March 4, 2024 /PRNewswire/ — The “Footwear Industry in South Africa 2024″ report has been added to ResearchAndMarkets.com’s offering.
The South African footwear industry faces competition from imported footwear, particularly from Asian countries with lower production costs. The industry is closely linked to the leather industry, which is strong and well-developed. Manufacturing revenue was expected to grow by more than 10% in 2023. The value of shoes imported into South Africa rose significantly in 2022, but the increase in volumes was negligible.
Key Opportunities
- Building a strong online presence and investing in ecommerce capabilities.
- Collaborations to create limited-edition footwear collections.
- Customisation and personalisation services.
- Educational initiatives related to footwear design, production and craftmanship, foot health and sustainable practices.
- Effective digital marketing strategies.
- Export opportunities.
- Growing demand for sustainable and eco-friendly footwear.
- The trend towards athleisure and casual footwear presents opportunities to develop new styles.
- Use of 3D printing and sustainable materials.
Challenges
- A shortage of skilled workers.
- Changes in trade policies, tariffs and global trade dynamics.
- Competition from imports.
- Counterfeit products and illegal or under-declared imports.
- Disruptions in the supply chain due to natural disasters, geopolitical events, or global crises.
- Economic factors. Establishing and maintaining strong brand recognition.
- Growing awareness of environmental issues raises expectations for sustainable and eco-friendly practices.
- High production costs, including labour, materials and overheads.
- Limited access to finance can constrain the growth and development of SMEs.
- Rapid shifts and changes in consumer preferences and fashion trends can pose challenges for manufacturers and retailers trying to anticipate and meet changing demands.
Key Trends
- Collaborations between footwear brands and designers or other brands.
- Customisation and personalisation.
- Digital transformation and ecommerce platforms.
- Economic challenges influencing consumer behaviour.
- Growing appreciation for locally-crafted footwear.
- Growing awareness of the environmental and ethical implications of fast fashion.
- Growing emphasis on sustainability, eco-friendly and ethically produced footwear, sustainable materials, ethical sourcing practices, and environmentally conscious manufacturing processes.
- The industry is exploring new materials and technologies.
- Transparency in the supply chain and traceability of materials
- Trend towards athleisure and casual footwear continues to gain momentum.
Outlook
Clothing and footwear retail recorded a 10.3% real year-on-year increase in 2023. South African footwear retail sales are predicted to show strong growth in the medium-term, driven by young urban consumers, accessibility of international brands and access to credit. Athleisure is expected to show the steepest growth.
The financial viability of footwear manufacturers is deteriorating, with above-inflation increases in electricity, transport and wages. The industry increased production volumes in 2022, largely from the production of cheap footwear, while the rest of the manufacturing industry remained under enormous strain.
Report Coverage
This report focuses on the manufacture, wholesale and retail of footwear in South Africa and includes information on production volumes and revenue, purchasing trends and criteria, key trends and issues, notable manufacturers and retailers, corporate actions, trade and economic and environmental issues including illegal imports.
There are profiles of 55 companies including manufacturers such as Bata South Africa, Bolton Footwear, BBF Safety Group, Shezi Industrial Holdings (trading as Neptun Boots) and Palm Footwear. Profiled footwear importers include Adidas, Dodo’s Shoes, Nike and Puma, and retailers include AVI, Mr Price, Foschini, Truworths and Woolworths.
Key Topics Covered:
1. INTRODUCTION
2. DESCRIPTION OF THE INDUSTRY
2.1. Industry Value Chain
2.2. Geographic Position
2.3. Size of the Industry
3. LOCAL
3.1. State of the Industry
3.2. Key Trends
3.3. Key Issues
3.4. Notable Players
3.5. Trade
3.6. Corporate Actions
3.7. Regulations
3.8. Enterprise Development and Social Development
4. AFRICA
5. INTERNATIONAL
6. INFLUENCING FACTORS
6.1. Unforeseen Events
6.2. Economic Environment
6.3. Labour
6.4. Environmental Issues
6.5. Technology, R&D, Innovation
6.6. Government Support
6.7. Input Costs
6.8. Illegal Imports, Customs and Counterfeit Concerns
7. COMPETITIVE ENVIRONMENT
7.1. Competition
7.2. Ownership Structure of the Industry
7.3. Barriers to Entry
8. INDUSTRY SUMMARY
9. OUTLOOK
10. INDUSTRY ASSOCIATIONS
COMPANY PROFILES
- Adidas (South Africa) (Pty) Ltd
- AST Safetywear CC
- Bata South Africa (Pty) Ltd
- BBF Investment Holdings (Pty) Ltd
- Bolton Footwear (Pty) Ltd
- Caprini Footwear (Pty) Ltd
- Charnaud and Company (Pty) Ltd
- Corrida Shoes (Pty) Ltd
- Dick Whittington Shoes (Pty) Ltd
- Eddels Shoes (Pty) Ltd
- Fast Fox Footwear (Pty) Ltd
- Hi-Tec Sports Distributors (Pty) Ltd
- HTC Stores (Pty) Ltd
- Kitsch Kool Properties CC
- L A Group (Pty) Ltd
- Michelle Footwear (Pty) Ltd
- Nike South Africa (Pty) Ltd
- Onshelf Investment Seventy Three (Pty) Ltd
- Palm Footwear Manufacturers (Pty) Ltd
- Puma Sports Distributors (Pty) Ltd
- Shezi Industrial Holdings (Pty) Ltd
- Smiley’s Footwear (Pty) Ltd
- Veldskoen Shoes (Pty) Ltd
For more information about this report visit https://www.researchandmarkets.com/r/4rw46n
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SOURCE Research and Markets
Originally published at https://www.prnewswire.com/news-releases/south-africa-footwear-market-forecast-report-2024-athleisure-is-expected-to-show-the-steepest-growth-302078346.html
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The post South Africa Footwear Market Forecast Report 2024: Athleisure is Expected to Show the Steepest Growth first appeared on Beauty News.
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