China is the world's largest footwear product manufacturing base, but also the world's largest footwear product consumer market. As China's urbanization process further accelerates, footwear sales will also accelerate growth. China's women's shoes industry has evolved on the basis of processing and production. By the mid and late 1990s, a group of brand women's shoes enterprises grew rapidly by virtue of their relatively clear brand strategy, product strategy, business strategy, marketing network and supply chain coordination. After more than 20 years of development and accumulation, they have become the dominant consumers in the domestic consumer market, and to meet the needs of Chinese women. The diversified demand of sex consumers for fashionable shoes is the main direction of design and production.
Analysis on the Industry Chain of Women's Shoes Industry
Women's shoes manufacturing industry is the textile fabrics, leather, synthetic materials and rubber, PU, PVC and so on. The upstream and downstream products are highly correlated, and the development of women's shoes manufacturing industry has led to the development of upstream industries. Price changes in upstream supply chain industries are closely related to women's shoes industry. Once the cost of upstream raw materials rises, it will drive up the cost of women's shoes industry. Whether import and export or material price changes, they will affect the development of women's shoes industry to a certain extent. The imbalance between supply and demand of leather, rubber, fabrics and plastic stool materials will affect the women's shoes industry as a whole. The downstream industry of women's shoes is the retail industry of women's shoes. The development of retail industry and the consumption expenditure of residents will drive the consumption and production of women's shoes.
The market scale of Chinese women's shoes industry will exceed 190 billion in 2018
From 2007 to 2012, the domestic women's shoes industry maintained a relatively rapid growth, and the industry entered a period of adjustment after 2012. After 2012, affected by the slowdown of economic growth, the rise of e-commerce channels and the reduction of passenger flow in Department stores, women's shoes industry has fallen into a downturn of fierce homogenization competition and sluggish sales. After five years of adjustment, in the fourth quarter of 2016, with the upgrade of consumption and the surge of new retail, the downstream demand gradually warmed up, and the women's shoes market showed a trend of gradual recovery.
According to the statistics published by Prospective Industry Research Institute, the market size of Chinese women's shoes industry has reached 119.1 billion yuan in 2010 and more than 150 billion yuan in 2012. In 2016, the market size of Chinese women's shoes industry declined. By 2017, the market size of Chinese women's shoes industry had increased to 184.5 billion yuan, an increase of 4.12% over the previous year. Preliminary estimates show that the market size of Chinese women's shoes industry will exceed 190 billion yuan in 2018, reaching about 190.4 billion yuan, an increase of 3.2% over the same period last year.
Fashion Women's Shoes vs Sports Women's Shoes China Women's Shoes TOP10 Brand Occupancy Competition
Compared with the brand competition pattern in 2012 and 2017, after five years of refinement, Nike took the place of Baili to win the TOP1 position. In TOP10, the number of women's sports shoes brand seats increased significantly from two seats to six seats. In TOP20, the percentage of women's sports shoes brand market increased from 9.6% to 15.7%, and that of fashion women's shoes brand market decreased from 25.8% to 16.5%.
At the same time, Sketch, New Balance, Zhuo Shini, Dadong substitute shoe cabinet, Qianbai, Saturday, 361 degrees strong into TOP20. Among the new brands, Sketch positioned itself precisely in the middle of Nike, Adi, UA and Anta, Li Ning and Trek, and quickly seized market share with the two trump cards of junior runners'walking shoes and panda shoes adapting to the trend of sports and leisure; New Balance sports + lifestyle shoes' hot brand performance improved year by year; local brands Johnny and Dadong borrowed it within a few years. Fashionable styles and very low prices quickly occupy most of the market space in low-end cities.
Sports women's shoes vs. fashion women's shoes, the trend of concentration of each market segment is quite different
From the perspective of market segmentation, the trend in recent years is that the concentration of fashion women's shoes has declined and the concentration of sports women's shoes has increased. The segmented market shows that the concentration of fashion women's shoes has declined year by year since 2013, with Baili International and its market share dropping by nearly 5%. Sports women's shoes market presents a completely different picture. Correspondingly, since 2013, the concentration of sports women's shoes has gradually increased, leading enterprises such as Nike have increased significantly. The popularity of sports in recent years has a great impact on fashion women's shoes enterprises.
Construction of Consumption Channel: Excess Off-line Consumption Channel and Rapid Online Growth
At present, physical stores such as street stores and department stores in women's shoes industry in China are still the main distribution channels. However, in recent years, the offline channel has been impacted by the online channel obviously, and its benefits have been declining, so its prosperity is not as before. Daphne, for example, closed 3,785 physical stores between 2015 and 2018, lost a total of HK$2.758 billion in four years, and its market value has dropped from its peak of $19.5 billion to $500 million today.
Now Daphne has been hit hard by her performance. Professionals analysis, Daphne closes the main reason is that the store expansion is too strong, the shoe industry is in a state of excessive channels.
Unlike the oversupply of offline shoe sales channels, e-commerce channels have witnessed rapid growth. According to professional data, the growth rate of shoe sales in the field of electronics is as high as 20%. At present, the main force of online shoe sales comes from the economically developed southeast coastal cities. In the future, with the popularization of the Internet in the midwest, Online shoe sales will usher in a new round of outbreaks.
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