Essay About Impact Of Buying Shoes And Seize Market Opportunities

How to Reduce the Impact of Buying Shoes online for Physical Stores and Seize Market Opportunities?
Re: How to reduce the impact of buying shoes online for physical stores and seize market opportunities?Executive summaryOverviewAccording to Zion Market Research, the global market size for shoes in 2017 is 246.07 billion dollars. The sales shows a strong and positive trend and is expected to garner more than 320.44 billion dollars in 2023 (Zion Market Research, 2018). Although people still prefer to go to the store to buy shoes, online shoes shopping is becoming more and more acceptable by consumers. As the market expands and the base of the consumer population increases, opportunities should be seized to increase purchasing motives for consumers.                      Source: Zion Market Research[pic 1]The issue[pic 2]Online shopping poses a threat to traditional retailersAccording to a survey, online shopping has gradually become a major way for consumers to buy shoes. The gap between people who go to a shop to buy shoes and online shoppers have been decreasing which means online footwear shopping has been posing a threat to retailers (Mintel, 2018).                                Source: Lightspeed/MintelThe opportunitiesComfort is an important factor that drives people buy shoesIn most of our daily occasions, casual clothes are becoming more and more acceptable by people. In many business places, such as offices, people are allowed to wear casual dress. As a result, sneakers could appear from gym or the street to work places (Clemente, 2018). In this trend, athletic shoes and casual shoes have taken the first two places in the shoes sales list, from which we can conclude that people take comfort as their important factor when buying shoes.Most people prefer to try shoes before they buyAlthough online shopping is becoming increasing popular among consumer, people are still used to trying shoes first and then shopping. 69% of consumers said they would like to try before they buy which shows that shoes purchasing is different from other shopping because people may spend more time in in the pre-research and that it is a good opportunity to defend the market share of traditional retailers (“Study: Consumers want ‘try before you buy’ payment option |Chain Store Age”, 2018).