Mexico stands number eight in the list of top global footwear manufacturers. World renowned for its traditional expertise in footwear manufacturing, Mexico has grown leaps and bounds in innovative technological know-how, foreign trade and domestic consumption of indigenous footwear. Demographic dividend is the major driver for rising domestic consumption of footwear in Mexico. RNCOS latest research reveals that footwear sales in Mexico shall grow at a CAGR of around 6% during 2012-2017 driven by growing middle class population which accounts for approx. 39% of the country’s total population.
Rising affordability amongst lower income groups and changing consumer preferences towards latest trends and fashions have given wings to the Mexico footwear industry. About half a century ago, 80% of Mexicans were poor. In the past decade, the country’s middle class population has risen by 17%. The figure represents a four percentage-point increase from 2000 to 2010. Domestic footwear market in Mexico is largely driven by low to mid-priced footwear. Thus, rise in spending capacities will have direct impact on the sales volume.
The report, “Mexico Footwear Outlook to 2017”, thoroughly studies the industry dynamics in the country. The report describes the production and sales of footwear in the country during 2011-2017. Market segmentation and forecasts by end user, product price and material describes the individual dynamics and growth prospects of each category. Export and import statistics by country and material from 2011-2013 present the foreign trade prospects of Mexican footwear sector. Industry drivers and challenges, regulatory framework are comprehensively covered in the research. Recent developments in online sales of footwear are also presented in the report. Importantly, descriptive profiling of major national and international players gives an understanding of competitive landscape in the Mexican footwear sector.
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