Footwear Retailing in New Zealand - Industry Market Research Report

Footwear Retailing in New Zealand - Industry Market Research Report

Footwear Retailing in New Zealand

Footwear retailers are highly susceptible to consumer spending patterns, which is why the COVID-19 pandemic has disrupted the industry. Footwear purchases traditionally relied on touch-and-feel, but this was largely impossible during lockdowns while physical stores were temporarily closed. As a result, home-bound consumers were driven to online shopping, boosting demand for retailers with an online presence. Additionally, volatile disposable income and declining consumer sentiment have encouraged consumers to buy fewer shoes or bargain-hunt online. Overall, industry revenue has fallen by 1.2% over the five years through 2022-23, to $520.2 million. This includes a plunge of 10.3% in 2022-23 as inflationary pressures wreak havoc on consumers' finances.

Industry firms primarily retail boots, shoes or other footwear. Most retailers in the industry sell their products from one or more shopfronts and may also operate an online store. The industry excludes department stores and online-only retailers.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.