Running Shoes: Introduction
- Running shoes are footwear which protect and offer comfort to the feet. Shoe designs have varied greatly through the years, and they vary from culture to culture. The importance of shoes for a particular activity has expanded the market, as specific shoes are required for particular activity. The specification of shoes not only depends on the activity but also on other factors such as age, gender, weight, and any previous injury to the back or ankle or any other part of the leg.
- Demand for running shoes has seen an upward trend since the last few years due to increasing popularity of outdoor activities. This factor, coupled with increasing disposable income and inclination toward physical fitness is expected to drive the global running shoes market during the forecast period.
Key Drivers and Opportunities of the Global Running Shoes Market
- Technology growth has led to development of advanced running shoes, offering more comfort and protection. Traditionally, shoes were made from leather, canvas etc., but these days, shoes are made from rubber, plastic, and petrochemical derived materials. Human foot is vulnerable to environmental hazards such as temperature extremes and sharp rocks. Increasing outdoor activities along with safety concerns is expected to drive the global running shoes market during the forecast period.
- Increasing realization among consumers that sports and fitness activities can reduce the risk of chronic disorders and ensure good health is set to drive product demand. Consumers have realized the importance of appropriate gear to avoid leg injuries, knee injuries, and muscle pain, which is expected to drive the demand for running shoes during the forecast period.
- Manufacturers of running shoes are focusing on developing more stable and comfortable products. Some manufacturers are also providing customization services to attract more consumers. Sales growth through innovative product launches, online channels, promotional strategies, and appealing marketing by companies is projected to expand the running shoes market during the forecast period.
- Rise in raw material prices coupled with environmental concerns about synthetic rubber have emerged as major challenges for the running shoes market. The current outbreak of Covid-19 has resulted in decline of sales of running shoes in 2020. However, the market is expected to grow during the forecast period.
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North America to Hold Major Share of the Global Running Shoes Market
- Geographically, the global running shoes market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America is expected to dominate the global running shoes market due to increasing outdoor activities. North America is likely to be followed by Europe, Asia Pacific, South America, and Middle East & Africa.
- The market in Asia Pacific is likely to grow at a rapid rate during the forecast period due to increasing disposable income and changing lifestyles.
Key Players Operating in the Global Market
Major players operating in the global running shoes market include:
- Nike, Inc.
- Adidas AG
- New Balance Athletics, Inc.
- Under Armour, Inc.
- Reebok International Limited
- Salomon Group
- Brooks Sports, Inc.
- Mizuno Corporation
- Puma SE
- Hoka One One
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Global Running Shoes Market: Research Scope
Global Running Shoes Market, by Type
Global Running Shoes Market, by Waterproofing
- Water Repellent
Global Running Shoes Market, by Heel to Toe Drop
- 0 mm
- 0 to 5 mm
- 5 to 10 mm
- Above 10 mm
Global Running Shoes Market, by Application
- All day wear
- Fell / Hill running
- Others (Triathlon, etc.)
Global Running Shoes Market, by End-user
Global Running Shoes Market, by Price
- Below US$ 20
- US$ 20 – US$ 50
- US$ 50 – US$ 100
- Above US$ 100
Global Running Shoes Market, by Distribution Channel
- E-commerce Websites
- Company Owned Websites
- Hypermarket / Supermarket
- Specialty Stores
- Other Retail Stores
Global Running Shoes Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.