The market for women’s luxury footwear is anticipated to reach a value of US$ 30 billion in 2022 and to grow at a respectable CAGR from 2022 to 2029. In recent years, there has been an increase in the population of HNWIs in 2021. Globally, there were 22.4 million HNWIs, and in 2021, their combined wealth totaled US$ 61,275 billion. With over 5.6 million HNWIs, Europe had the highest pace of HNWI population increase. As a result, people have large purchasing power. Additionally, the rise in the number of working women and the inclusion of women in the labour force in nations like Japan, the UK, and France contribute.
Compared to other market segments (boots, heels & pumps, casual, sneakers & sports shoes), sandals and casual flats will contribute the majority of the global sales of women’s luxury footwear in 2022.
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Key Takeaways – Women’s Luxury Footwear Market
- Europe is expected to remain prominent in the global women’s luxury footwear market, owing to high concentration of luxury footwear manufacturers such as JIMMY CHOO PLC, Hermes, Christian Dior, Gucci, Chanel, etc.
- The sandals & flats segment is considered as key attributor to the global women’s luxury footwear market, which can be attributed to their availability in wide variety of designs.
- High exposure of consumers in websites such as Amazon, Walmart, etc., with 10% online penetration rate, support online retail in becoming the most lucrative sales channel.
Increasing number of high-net-worth individuals (HNI) led to a surge in demand for custom footwear. Advancements in technology such as 3D printing and advanced sensors would also push manufacturers to introduce innovative shoe designs.
Top Trends in Women’s Luxury Footwear Market
Compared to the men’s footwear market, the women’s footwear market has a higher revenue share. The worldwide footwear market is significantly impacted by changing lifestyles, rising fashion awareness, and celebrity endorsement. Athleisure trends, smart shoes, and sustainable footwear are the most recent market trends in luxury footwear. Animal print boots, floral prints, feather heels, chunky bright sneakers, big toe sandals, and other print styles have all had tremendous popularity in the past.
Competitive Landscape Analysis
The study spotlights some significant participants in the global market for women’s high-end shoes, including Kering, Burberry, Caleres, Jimmy Choo PLC, and others. Players in the market concentrate primarily on product innovation and design. A pain-free high heel was introduced in Q1 2019 by Maison Baum, a high-end footwear maker with headquarters in Germany. To move users’ weight away from the ball of the foot, the business uses its unique footbed technology and an insole with anatomical elevations.
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Key Segments of Women’s Luxury Footwear Industry Survey
Women’s Luxury Footwear Market by Product:
- Women’s Luxury Boots
- Women’s Luxury Heels & Pumps
- Women’s Luxury Sandals & Flats
- Women’s Luxury Casuals, Sneakers & Sports Shoes
Women’s Luxury Footwear Market by Material:
- Rubber Footwear
- Leather Footwear
- Polyester Footwear
- Velvet Footwear
- Canvas Footwear
- Textile Footwear
- Others
Women’s Luxury Footwear Market by Price Range:
- US$ 300-499
- US$ 500-699
- US$ 700-999
- US$ 1,000-1,299
- US$ 1,300-1,599
- US$ 1,600 & Above
Women’s Luxury Footwear Market by Sales Channel:
- Offline Sales of Women’s Luxury Footwear
- Department Stores
- Specialty Stores
- Monobrand Stores
- Off-price Stores
- Others
- Online Sales of Women’s Luxury Footwear
Women’s Luxury Footwear Market by Region
- North America Women’s Luxury Footwear Market
- Latin America Women’s Luxury Footwear Market
- Europe Women’s Luxury Footwear Market
- East Asia Women’s Luxury Footwear Market
- South Asia & Pacific Women’s Luxury Footwear Market
- Middle East & Africa (MEA) Women’s Luxury Footwear Market
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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