"Footwear in the Philippines" now available at Fast Market Research

Filipino consumers are becoming financially independent at a younger age than before. One of the reasons for this is the rise in the number of people with high paying jobs in the BPO and IT industries. As a result, young consumers, who account for the bulk of the population in the country, are becoming more wary about current fashion trends, with more and more consumers joining the bandwagon and trading up to higher brands due to financial stability and global awareness. Athleisure and urban streetwear are two of the most apparent fashion trends that young Filipino consumers are investing in, with footwear current value sales rising by 8% in 2015 to reach Ps94.7 billion.

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Competitive Landscape

The biggest player in 2015 remained Nike Philippines, which recorded a value share of 3%. The company continues to impress its consumers with new collections of designs, promotional activities and events to spur further attention, despite it being an already well-established brand in the country. One of the biggest activities of the company in 2015 was the hiring of Lebron James to promote its big sports and promotional event. In addition, the brand also benefits from current athleisure and urban streetwear trends by releasing designs that are not performance based but fashionable.

Industry Prospects

Footwear is expected to grow over the forecast period, with the area having a projected constant 2015 price value CAGR of 5% due to rising disposable incomes. The stable and healthy economy of the country also contributes to the positive forecast and will be the foundation for increased opportunities for growth through positive consumer spending, lower unemployment and efficient infrastructures. Footwear will continue to be utilised by consumers as an integral tool towards healthy active lifestyles over the forecast period. In addition, the increasing number of middle income consumers will also represent an opportunity for brands to take advantage of in the next five years as these groups will generate greater demand for globally updated footwear designs.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Footwear industry in Philippines with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Footwear industry in Philippines, our research will save you time and money while empowering you to make informed, profitable decisions.

The Footwear in Philippines market research report includes:

* Analysis of key supply-side and demand trends
* Detailed segmentation of international and local products

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