A new report has been released by Dublin-based research company Research and Markets, ‘Footwear Market Report Plus 2007’, setting out a detailed analysis of the UK footwear sector.

The study analyses the slowdown in the market seen in 2005 and provides estimates for 2006, which show a slight fall in the market value to £5.6 billion. This represents 0.7% of total consumer spending, whereas consumers spent 1% of their household budgets on footwear as recently as the 1990s.

In terms of market sectors, the main breakdown of footwear is by gender and age. Reference is also made to different styles of footwear, such as town shoes, boots, sandals, sports and casual footwear.

The report claims that discounting in the high street and the sourcing of cheaper footwear from factories in the Far East are largely responsible for the sluggish performance in the market in value terms. Typical shoe prices fell by 4% between 2002 and 2006. Competing with exporters in the Far East—mainly China and Vietnam—has become almost impossible for mainstream footwear manufacturers in the UK, although the domestic industry still has strong design credentials and exports 90% of its output (mainly upmarket formal or specialist footwear).

It also reports that shoe retailing has become more diverse and has improved over the past ten years. However, specialist manufacturers have to compete against the grocery superstores and department stores, which offer numerous brand concessions.