Children’s footwear market will grow 18.1% in five years
In Colombia, this market is led by three companies that, added their participation, exceed 15% of the total market. In the number one position there’s Plasticauchos Colombia (formerly known as Venus) with 6.3%, followed by Payless with 5.6% and Offcors with 5.5%, according to information from the market research provider, Euromonitor.
According to the firm, which analyzes the market category that includes shoes and slippers for children under 14 and babies, will move until 2023 $803,000 million in the country, and its growth will be an 18.1%, while the units in the market will increase by an 8% and will reach 17.7 million in five years. It’s noteworthy that this market moved last year $679,900 million, which meant a growth of a 42.5%, compared to the amount achieved in 2013 when it was in $477,000 million.
Although in the past five years the infantile business grew in value, it decreased in units according to the market research supplier because 16.4 million units were commercialized last year versus 24.8 million shoes sold in 2013. The fall in this period was 33.6%.
Having this picture into account, the Euromonitor assures that the infant segment represents a 14% of the total value of this market in the country, which in 2018 moved $4.83 trillion. If we review this business in the region, Brazil was the one that sold the most units last year in this niche with 155 million, followed by Mexico with 90.3 million, Argentina with 43.5 million, Colombia with 16.4 million and Chile, in fifth position, with 11.8 million.
According to Jose Andrés Zuluaga, general manager of Plasticaucho Colombia, the economy in general comes from overcoming two difficult years when the sector was harshly affected. However, he stressed that the recovery of this comes thanks to the expansion in sales abroad by child footwear companies. He also mentioned that, in terms of exports, all the efforts that the Government can make are essential for local companies to grow and reach other customers in markets not yet explored. Based on the above, Zuluaga added that as a company they hope to continue innovating, since children’s shoes have ample potential for expansion in the market.
Regarding the trends in this segment, Andrea Olmos, an expert fashion psychologist said that previously “children and babies used special, comfortable, woven, cotton and delicate materials, but today we see from very young, trends seen in the catwalks are brought to these ages and the same happens with footwear”. Olmos noted that “blucher” shoes, tennis shoes, moccasins or sandals with platform heels for girls are also being brought and used by the local market. “Note that this footwear uses appropriate technology for the development of children and babies. These bring a reinforcement in the part of the heel that make it suitable for these ages, there are even some that don’t bring laces but velcro for an easier use that suit children routines” he said.