The footwear sector has long been driven by a unique mix of fashion and function that garners intense loyalty among consumers — and makes the battle for market share especially fierce. In such a highly competitive, global marketplace, footwear brands turn to L.E.K. Consulting to help them win market share.
We apply deep industry expertise and worldwide resources to help clients design and implement consumer-led strategies based on insights into the market landscape and underlying trends, and pinpoint overlooked and underserved consumer opportunities via consumer segmentation. We also develop holistic digital strategies that unlock untapped market potential, optimal channel strategies that drive performance improvement with partners as well as company-owned channels, and much more.
Key questions and challenges
Our experienced professionals have an extensive understanding of the challenges key footwear brands face in today’s marketplace. With our encouragement, these clients start by asking themselves a few crucial questions:
- Do we have a comprehensive understanding of the breadth of consumer purchasing for the brand, and of how to grow the most attractive and valuable segments?
- In an evolving digital world, how can we alter our channel strategy to best target our key consumers?
- How will the rise in spending power of Millennials and Gen Z affect our brand or business? How are our customers thinking about brands and footwear trends?
- How do we develop a winning direct-to-consumer strategy?
- How do we become a true omnichannel brand? Are we taking advantage of all the options to reach our consumers beyond the buying occasion?
- How should we think about penetrating new geographical markets? Which are most attractive? How should we go to market, and what resources will be required?
- Has our organization evolved along with today’s market to refocus resources on the most value-creating growth levers?