Changing fashion trends and changing style statements have sparked the interest of fashion lovers in shoes. Apart from being a necessity, shoes today help the fashion-conscious population leave a lasting impression of their personality and style on others. Irrespective of gender, people evaluate all aspects such as design, comfort, durability, style, craftsmanship before choosing the perfect pair for them. This increased interest has accelerated the demand in the industry and according to the report, the footwear industry is expected to grow 8 times by 2030.
India, which is the second largest footwear producer and buyer in the world, now has this unique opportunity to leverage innovation, technology and customer demand to take the industry to new heights. Moreover, digitalization, large-scale technology adoption, initiatives such as Make-in-India and Startup India have opened up new opportunities, leading to the development of new trends contributing to growth.
Take it to the next level with technology: Technology has taken shoemaking to another level. With the help of new age technologies like AI, augmented reality, virtual reality, 3D printing, etc., manufacturers are streamlining their production process and accelerating their manufacturing capabilities. Thanks to augmented reality, makers can visualize and verify or validate products before manufacturing them.
They can use high-end graphics to get a clear picture that helps reduce costs and save time and even raw materials. In addition, technology helps brands to offer personalized services. It has become the key for brands to offer personalized products to customers according to their choice or demands. Today, 3D printing has completely changed the game in manufacturing. Companies can produce quality products. This not only eliminates the extensive manufacturing process, but also contributes to automation, better utilization of resources, and generates higher profits.
India in the spotlight: With initiatives such as Make in India and Self-Governing India, brands are focusing on products that are central to India’s culture and needs. Efforts are being made to bring our Indian Standard Specification or Indian Foot Sizing System for shoe sizing and fitting. specific to Indian customers
This will help the companies to come up with products keeping in mind the demographics and various characteristics of Indians to provide them with more comfort. Additionally, brands have realized the interest of customers in designs that value Indian heritage. To satisfy this, they offer ethnic shoes with Indian patterns, hand block printing, dyeing, etc. to carve out a place.
Sustainability and demand for vegan products: Demand from climate-conscious customers has shifted product focus towards climate-friendly products. They offer innovative solutions to offer shoes made of cotton and other raw materials that are environmentally friendly and sustainable.
Vegan fashion is growing in popularity and prominence and many brands are launching their products to cater to this niche segment. Consumers demand vegan sneakers, shoes, stilettos and in times to come, vegan fashion will definitely be part of mainstream footwear.
READ MORE: India’s footwear industry growth for FY23 expected between 8-10%