Exploring the Shoe Industry. Discuss the 6 segements of the shoe store industry

Question

Exploring the Shoe Industry. Discuss the 6 segements of the shoe store industry in the U .S., North American Industry Classification System (NAICS 44821):

* Demographics

* Sociocultural

* Political/Legal

* Technological

* Economic

* Global

By answering what are the critical factors that you think are critical, the trend of the critical factor, the expected resulting changes in our focal industry.

Retailing footwear is the primary function of this industry. The sale of footwear usually involves purchasing footwear from wholesalers and selling it directly to customers. Hosiery and sports footwear, such as golf shoes, bowling shoes and cleats, are excluded from this industry, as are any sales made via catelogs or the internet.

Explanation / Answer

Shoe industry in US is mainly known for its retailing shoe store where the shoes are brought from the wholesalers and sold directly to the customers. There are several stores that keeps a single brand of shoes i.e. the brand store like Nike, Puma and Reebok whereas there are several stores that keep many brand shoes and they procure these shoes from the wholesalers. The wholesalers either directly get the shoe from the producers or are passed through several distributors in the system.

Shoe industry is also considered as a fad industry and the shoes those are left behind and are not sold in the season comes out in sale. The sale runs throughout the year so as to clear the old and left shoes that are out of the fashion.

Demographics: Shoes are designed keeping in mind the different set of populations in the United States as some of the population expects fashionable shoe while some expects descent shoe that are generally formal or business class. Accordingly, the customers are targeted for selling the desired product.

Sociocultural: Some set of people i.e. belonging to different class or religion of the society prefers different kind of shoes and they are accordingly targeted for achieving the target of sales. Some of the stars also comes under this who uses the set of these shoes.

Political/Legal: Some of the shoes are sold with the political influence of the government like the production being done within the country and not outside in other nation.

Technological: Some of the shoes are handmade while others are made using machines and thus they attract different set of customers. The handmade shoe gives a customer flavour of customization.

Economic: Some of the shoes are made for the economically low earning society and some for high status people. Accordingly, these are sold in different set of stores and brands.

Global: There are several shoes brand those are not from US but are sold in the country. These are brands from other nations in the world and is imported and sold in the US market.

The critical thing here is that the shoe industry has different stores keeping different brands targeting different customer segment.

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