Sport Shoe Sales
Sport Shoe Sales
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Institution
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Introduction
A sports foot ware retailing store specializes in running shoes and other related accessories. For such a store to make profits and remain relevant in the market, the owners need to adequately research the costs required to open and run the business and, most importantly, the market they intend to sell their products. I visited the already existing foot ware retailing stores for a successful market study. In addition, I conducted online research to have a broader understanding of how the sports shoe market operates. This paper will provide an overview of the foot ware retailing store and the importance of consumer profiling to it.
The main profiles that influence the target sports shoe market are the age, gender and spending patterns of customers. Knowing the age of consumers helps a store owner to understand the type of shoes that will attract their attention (Kinsky & Huth, 2020). For instance, young people tend to go for trendy shoes that make them look up to date. They can determine the gender that buys more sports shoes over a specific time by having a good customer profile. This information balances the demand and supply of shoes in the store. The consumer’s spending pattern allows a store owner to regulate the shoe supply during different periods to prevent losses due to low sales.
The product is divided into various market segments. We have individuals who buy sports shoes for the sake of their daily comfortability. We also have people who buy shoes because it’s fashionable. Finally, the elite group consists of professional athletes whose career depends on this market sector (Bisen & Nuangjamnong, 2021). Since it’s a shoe store, the most appropriate distribution channel is personal pick up from the store. It allows the buyer to fit and feel the shoe before purchasing it. Other channels include delivery to their residential areas and the use of online platforms. This knowledge will enable me to know the segment that can generate high-profit margins, is stable, and has a potential growth rate (Nor Azah, 2019). While conducting research, store owners should be careful not to infringe the rights of their competitors as it would attract lawsuits against them. Moreover, a firm needs to maintain its authenticity and uniqueness to attract more sports shoe lovers.
References
Bisen, A., & Nuangjamnong, C. (2021). An influence of advertising on consumer-based brand loyalty: a case study on a sports shoe brand in Bhopal India. AU-GSB e-Journal, 14(1).
Kinsky, B., & Huth, C. (2020). INNOVATION IN SPORTS BUSINESS. In BOOK OF ABSTRACTS (Vol. 31, No. 3, p. 296).
Nor Azah, A. A. (2019). A study on the determinants of brand loyalty in sport’s shoes among students (Doctoral dissertation, University Utara Malaysia).
