The global online footwear market is growing by a CAGR of eight per cent. The market is witnessing significant growth in the non-athletic footwear segment.
The segment is primarily driven by increasing fashion consciousness among consumers. In addition, the rise in the number of private label brands, the high demand for trendy non-athletic footwear from Generation Z and millennials, and the rise of e-commerce companies are fostering the growth of the segment.
The market is driven by the rising popularity of digital payment systems.Online shopping offers various payment options such as credit cards, cash on delivery, internet banking accounts, demand drafts, and cash on order. Customers can also rely on payment service providers such as PayPal to make payments without revealing their personal information.Popular players such as Amazon, Google, MasterCard, and PayPal are investing heavily in digital payment technologies.Mobile payment options such as Apple Pay, Android Pay, and Samsung Pay are becoming a standard feature on new smartphones.The availability of such payment options is increasing the convenience of shopping for footwear online. The advent of smart and customized footwear is the key trends in the market.Vendors are offering customization and personalization options to diversify their product portfolios.
Some vendors are introducing smart footwear to attract customers engaged in athletic and fitness activities.
