Yahoo Finance If the shoe fits: What really drives consumer choices for footwear? Market Force study looks at top retail brands to uncover where consumers find their footing
ATLANTA, March 22, 2024 /PRNewswire/ -- Market Force's latest syndicated research covering retail and fashion suggests that consumers shopping for footwear prefer Journeys and Nordstrom placing them at the top of footwear brand rankings. These footwear retailers lead in both loyalty and consumer trust, and they lead by significant margins over other brands. Other more specialized brands who fared well included Cole Haan, Steve Madden, Doc Martens, Dicks Sporting Goods and Finish Line.
Brand loyalty is king. In a marked departure from consumer behavior in the fashion space, where consumers are driven primarily by value, in footwear brand loyalty is a major factor. After loyalty, economics factors kick-in. The study reveals that brands could capture more consumer spending with better promotions and pricing. Brands that are yet to earn significant consumer loyalty should be aware that market leverage can be attained by using promotions to build trial.
Creating satisfied consumers is not all about price/value. More evidence of diminished pricing leverage exists in consumer satisfaction results. Here, the study suggests that value ranks well down the list in terms of importance (sixth most important of eight experience drivers) with consumers. Consumers rank speed of service at checkout, store atmosphere, the ability to find a correct size and the ability to create a look all as more important than value. Fit, fashion, and shopping experience all matter.
For footwear brands with flat to lagging sales it is a perfect time to review brand positioning, operational execution, and the customer experience in as much depth as possible. A fresh set of eyes can help you put your best foot forward on the road to delivering an exceptional customer journey. Reviewing the study data in detail is an ideal place to start.
To access the fashion retail study results please visit:
www.marketforce.com/clothing-footwear-research-2024-access
Brands and analysts interested in a full walkthrough of results can schedule a briefing at:
https://www.marketforce.com/schedule-a-briefing
Join our growing consumer panel at:
https://panel.marketforce.com/become-a-panelist
About Market Force Information
Market Force helps leading global brands improve the customer experience and operations at each location. Through an integrated services package including mystery shopping, site audits, contact center, social reviews, surveys, employee engagement and analytics Market Force drives consistent growth and profitability for its valued clients.
Market Force provides solutions for restaurants, big box and specialty retail, grocery, petro-convenience, hospitality, travel, telecom, technology, energy, education, health and wellness, movie studios and theatres, fitness, financial services, gaming, CPG, alcohol and tobacco, pharma, government agencies and more.
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SOURCE Market Force Information