Online Retail Portals are Gaining Popularity in Europe
Key manufacturers in Europe incurred huge losses due to the pandemic, with the shutting down of several stores in 2020. Europe is home to many fashion capitals that have streets full of retail outlets. The stores suffered the blow of the pandemic due to non-existent footfall in the first half of the year.However, due to the widespread adoption of e-commerce by traditional stores, the manufacturers witnessed a steady recovery in terms of sales and production. Many stores have also reopened with keeping in-store health and safety measures in check and are experiencing average footfall.
As consumers are getting comfortable with online retail portals, the retail industry is witnessing a gradual recovery with prospects for expansion in the future.
The Badminton Shoes Market research encompasses an exhaustive analysis of the market outlook, framework, and socio-economic impacts. The report covers the accurate investigation of the market size, share, product footprint, revenue, and progress rate. Driven by primary and secondary researches, the Badminton Shoes Market study offers reliable and authentic projections regarding the technical jargon.
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Worldwide sales of badminton shoes are estimated to surpass 53,400 thousand units in 2019, up from 50,782 thousand units in 2018, as per the latest report published by Fact.MR. Surging popularity of racquet sports, with badminton being a prominent one, continues to be one of the key factors fuelling investments in badminton shoes market. As per the report, multiple number of sports clubs with favorable membership deals are springing up across various regions, thereby creating favorable grounds for the adoption of badminton shoes.
Participation in badminton as a professional and a recreational sport is on the consistent rise, which makes it rank among the most popular sports played worldwide. The pursuit of badminton as a fast and invigorating sport by people of varying athletic abilities is fostering the popularity of this sport over other types of racquet sports. This ever-increasing enthusiasm for badminton is foreseen to boost sales of high-quality badminton accessories, including badminton shoes.
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According to the report, customers will continue to show high inclination toward badminton shoes with rubber soles owing to higher degree of versatility and flexibility offered, with global sales estimated to surpass 38,800 thousand tons. However, demand for badminton shoes with non-marking soles is likely to grow exponentially through 2028, as they leave no scratches or shoe marks on the surface and eliminate the risk of damages.
Men Will Continue to Spend More on Badminton Shoes than Women
As per the analysis, men will continue to spend on badminton shoes more frequently in comparison to women and kids. Though women are increasingly coming forward and participating in badminton in recent past, men will continue to lead and report higher participation levels in badminton. This, in turn, makes them a valuable target audience for companies operating in the badminton shoes market.
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As per the Fact.MR study, East Asia will continue to be a highly lucrative market for badminton shoes, with sales estimated to surpass 32,400 thousand units in 2019. The demand for badminton shoes will remain highly concentrated across flourishing economies of East Asia, mostly China, Japan, South Korea, and others, wherein the burgeoning middle class demographic will continue to create revenue-making potential for the manufacturers.
Leading companies in the badminton shoes market are making headway with exhaustive assessment of market trends and trying out new advertising techniques to reach both new as well as old target markets. Endorsement continues to be a key component of the leading brands in the badminton shoes market, as multiple studies underline the positive effects of celebrity endorsements on customer decision-making. Social media will continue to breathe life into the marketing strategies of key players in badminton shoes market by boosting customer engagement. Sensing the aforementioned, manufacturers in the badminton shoes market are modifying their social media marketing tones to boost sales.
The Fact.MR research study sheds light on untapped potential in the badminton shoes market from 2018 to 2028. As per the Fact.MR report, the badminton shoes market is estimated to witness growth at a value CAGR of over 8% during the assessment period.
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