The industry is a global footwear measurement industry. Globally, footwear retailing is fairly fragmented and highly competitive, although the market is dominated by large buying groups. Core activities are value-adding services where the foot measuring products enhance the operations and marketing of the compatible footwear size and even procurement with cost savings information. 2. ConQ is a UK based research and development firm which aims to develop new market and product opportunities in footwear industry with their key product (Footview3D) 3. Product segment includes traditional tool, online tool, high tech tool and sophisticated data generating system. 4. The global footwear measurement industry is best described as being in the growth stage. This is demonstrated by the increasing market value forecast in Table 1, whereby the estimated Compound Annual Growth Rate (CAGR) is both 6.4% (US Market) and 8.1% (China Market) respectively. This phrase sees a surge of new competitors namely traditional tool (Brannock), online tools (vFit app), high tech tool (Aetrex iStep) and sophsicated data generating system (FootView 3D). This indicated that there is room for rivalry based on different consumer needs. Over recent years, there has been consolidation in the industry as companies seek production efficiencies and product differentiation to better fit the strategic shift for tech-savy customers and resources planning. Accordingly to studies conducted in 2012, 78% of adults had experienced foot issues at some times often due to poorly fitting shoes. In addition, in UK, a 2014 study found more than 30% (men) and nearly 50% (women) admitted buying shoes that didn’t fit properly. There are customer service opportunities which need to be properly addressed for the correct fitting of shoes. This is further evidence of a high-growth environment, wherein the industry is at the growth stage of its life cycle.
Value chain of Footwear...
Please join StudyMode to read the full document