The number of shoppers buying footwear has fallen by 13.9% between 2007 and 2011, the equivalent of 5.5m shoppers.
According to retail analyst Verdict, the number of consumers that actively shopped for footwear fell by 5.5m between 2007 and 2011 and the company predicts further consolidation in the lower-mid value end of the footwear market.
Growth of 0.4% (equivalent of £23.3m) in the UK footwear market in 2012 will be the second lowest in 12 years, rising to £5.8bn.
Since 2007 the number of footwear shoppers has dropped by 13.9%, with just 66.7% of the adult population shopping for footwear in 2011, compared to 73.3% in 2007.
According to Verdict, discretionary purchases, such as footwear, are being deferred as consumers continue to be faced with financial uncertainty and job losses.
Verdict also said that Primark and other retailers in the value sector, including supermarkets, have poached footwear spend.
Between 2007 and 2012, footwear only specialists’ share of the market fell by 5.1% points to 39.4%, the equivalent of £141.50m, with Barratt Priceless, Brantano, Shoe Zone Group and Clarks all losing share.
Honor Westnedge, senior analyst at Verdict said: “Recovery in footwear shopper numbers and spend per head will be gradual, with significant improvement forecast from 2014, as consumers will stay cautious due to more pressure on their disposable incomes.
“However, the increasing interpretation of fashion trends in footwear will help to encourage shoppers to spend as retailers refresh their offer more frequently.”
Footwear retailer market shares
|Marks & Spencer||7.0||7.1|
|JD Sports Fashion||5.4||6.6|
|Shoe Zone Group||3.4||3.0|