Athletic footwear includes shoes that are specifically designed for sports and other fitness activities such as running, walking, tennis, basketball, cricket, football etc. Athletic shoes provide protection, support and comfort required for strenuous activities. Lightweight, cushioned sole and breathable fabric allow smooth movement and comfort during sports.
Market key trends:
The global Global Athletic Footwear Market Size is mainly driven by growing health consciousness and increasing participation in sports and fitness activities. As per a survey by IHRSA, around 57.3 million people were enrolled in health clubs globally in 2020 indicating continuous rise of fitness enthusiasts. Increasing popularity of sports like football, basketball and tennis is augmenting the demand for best quality athletic shoes. Moreover, advancement in technology has enabled manufacturers to introduce lightweight, breathable and durable shoes that provide enhanced performance and comfort to the players. For instance, Nike launched VaporMax shoes made of revolutionary Flyknit material that is lightweight, flexible yet sturdy.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low due to high capital requirements in R&D, manufacturing, distribution and branding. Established brands have strong brand loyalty which acts as barrier.
Bargaining power of buyers: The bargaining power of buyers is high due to large number of established brands and availability of substitutes. Buyers can easily switch to alternative brands.
Bargaining power of suppliers: The bargaining power of suppliers is medium as raw materials used in manufacturing are commoditized. However, some niche materials suppliers wield some power.
Threat of new substitutes: The threat of new substitutes is medium as other categories like casual and outdoor shoes can replace athletic footwear.
Competitive rivalry: Intense competition among major brands.
SWOT Analysis
Strength: Strong brand loyalty of major brands like Nike and Adidas. Innovation in product design, technologies and marketing.
Weakness: Over-reliance on few mega brands. High inventory and marketing costs affect margins. Vulnerable to counterfeiting.
Opportunity: Growth in emerging markets. Rising health consciousness and popularity of active lifestyle boost demand.
Threats: Trade conflicts and rising raw material costs impact profitability. Shift to athleisure wear blur product categories.
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