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Companies in this industry primarily sell casual, dress, and athletic shoes, including orthopedic shoes, from physical retail locations. Major US companies include Caleres (formerly Brown Shoe Company and owner of Famous Footwear and Naturalizer), DSW, Foot Locker, Genesco, and Payless ShoeSource. Some shoe manufacturers, such as Nike, also have retail operations. Major non-US companies include Aldo Group (Canada), Belle International (China), The Deichmann Group (Germany), and Vivarte (France).
The global footwear industry is expected to grow to $220 billion by 2020 (from $200 billion in 2015), driven by growth in the global economy and consumer demand for leading brands. Casual footwear is expected to have the largest market globally both in terms of value and volume from 2014 to 2020, according to Transparency Market Research.
The US shoe store industry includes about 25,000 stores with combined annual revenue of about $34 billion.
New styles and personal income drive demand. The profitability of individual companies depends on effective merchandising and competitive pricing. Large companies have advantages in purchasing, distribution, and marketing. Small companies can compete effectively by stocking specialty products, providing superior customer service, or serving a local market. The US industry is concentrated: the top 50 companies account for about 80% of industry revenue.
Shoe stores compete with department stores, mass merchandisers, apparel retailers, Internet retailers, and some shoe manufacturers.
About 98% of the shoes sold in the US are imported. ...
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