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 local footwear. Guanajuato, the hub of leather and footwear industry in the country, has developed over time to compete against major international rivals such as China, Vietnam, and Indonesia among others. Comparatively shorter production cycles and latest trends in manufacturing give the country an upper hand over voluminous production and sales models by the said rivals.
While geographic vicinity of Mexico with US and Canada helps generate foreign trade in its premium manufacturing segment, the massive increase in domestic midle-class population and rising disposable incomes of natives have given momentum to the footwear industry of the country. RNCOS’ research “Mexico Footwear Outlook to 2017”,reveals that footwear sales in Mexico is expected to grow at a CAGR of around 6% during 2012-2017. The company’s report is a detail study of major advancements in the past couple of years, and a well-drawn analysis of domestic and international trade. Production and sales of footwear during 2011-2017 depicts the current trends and future projections. Market segmentation and forecasts by end-users, product prices and other materials, all describe the individual dynamics and growth prospects of each category. Export and import statistics of the country and material from 2011-2013 present foreign trade prospects of the Mexican footwear sector.
Industry drivers and challenges speak about the propellers and pullers of the sector, helping strategists and decision makers take account of these parameters while laying effective business strategies. Online sales of footwear has gained pace in the recent years. In its report, RNCOS presents the major retailers offering online channels for sales of footwear in the country besides providing recent developments in the industry’s online sales. Descriptive profiling of major national and foreign players covers their business details. Regulatory framework encompassing the sector has also been incorporated in the study. The research report shall serve the purpose of investors, business persons, policy makers in understanding the current and future scenarios of the Mexican footwear sector thus help in developing the future pavement of growth.