The hallmark of the global footwear industry has been to provide newer technology to the wearer. The innovation has been relentless. From mid-sole cushioning in the 1970s to today’s self-lacing shoes. But all this is a bit alien to the Indian consumer. Let’s explore what innovation and branding opportunities are relevant for India.
The Global Footwear industry has always been in innovation-mode. The hallmark of this industry has been to provide newer technology to the wearer. Whether it was the materials used for cushioning the mid-sole in the 1970s or Nike’s Air Max shoe in 1989, in which the Air Technology was visible, the innovation has been relentless. We now see around 20 different technologies that make up the running shoe that have been added over the years.
Today’s Global Technology
More recently brands are taking technology to new heights; self-lacing shoe technologies from Nike called HyperAdapt 1.0 and 3D Shoe Printing for customization and increased performance. Let’s not forget how multiple players, shoe companies and technology companies are all coming out with their own version of Smart Shoes.
The kind of technology that is being explored globally is just mind blowing.
How relevant is this for India?
But frankly, all this is so far removed from the Indian Footwear Industry. These technologies are unaffordable for most people in developed markets, let alone the value-conscious Indian consumer.
Additionally, Indian manufacturers have several challenges such as, logistics, rupee appreciation, cheap knock-offs and many more.
But the outlook for the footwear industry is good. Because of increased disposable income and rapid penetration of internet and smartphones.
What’s next for the footwear industry in India? As these global technologies are too far out for India. Let’s look at opportunities that are more realistic, in terms of innovation and branding.
Here are three potential spaces. This is not by any means an exhaustive list. This is a just a sample.
Water-proof Uppers
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