shoe industry analysis.edited.docx

shoe industry analysis.edited.docx - Summary The retailing...

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Summary The retailing shoe industry has been on a slight growth over the recent years as a result of various significant variables that strongly favored the growth and development. The industry mainly depends on the performance of the economy and which have recorded some growth over the years to date. There has been an increase in the per capita income of the population which has eventually led to increased discretionary purchases and the rise in the demand for the shoe products. There are also some external factors that have affected the shoe industry in the United States. The external drivers entail the disposable income, the extent of the services which are conducted online and the prices of the shoes. Additionally, the shoe industry is affected by the rate of participation in various sports. All these factors have had a tremendous impact on the general performance of the given enterprise. However, the emergence and consistent of the online shopping services has posed as a threat making the industry players to strategies on how to adopt the new growing trend that is preferred by many consumers. The shoe industry is subdivided into different segments that equally have an impact on its performance. The segments include demographic, political or legal, global, economic, technological and the sociocultural segment. Economic Segment Various economic factors and variables have greatly affected the performance and working of the shoe industry in the USA. The consistent growth of the economy of the country has greatly influenced the performance of the retailing shoe industry in the country. The steady economic development has led to the increase in the per capita disposable income of the consumers thus increasing the average sales of the shoe products. The economic growth also has an impact on the discretionary purchases due to the increased propensity to purchase by the consumers. The consumers have some readily available disposable income thus increasing their propensity to spend on the different shoe products There also has been a shift in the consumption patterns of the consumers where many people nowadays have the
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Christopher Reinemann
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