Nike Launches $720 Self Lacing Shoes Elevating the Global Athletic Footwear Market

Posted on: Mar-2017 | By: 9 Dimen | Consumer Goods

Nike is a name that every sports person is known of. The company has served for many years with its quality products. Recently the company has once again proven its capacity. The company launched its new shoes that have the capability to tie laces automatically. These self lacing shoes are priced at $720. This has indeed boosted the global athletic footwear market. Let us have a look at other factors that plays a major role in building the Global athletic footwear market.

Rise in retail culture is the main reason as to why the global athletic footwear market is boosting with a rapid pace. In addition to this, consumers are becoming more conscious about the fashion. This led to only one thing; increased demand for athletic footwear. This rising demand for athletic footwear is also one of the major reasons that are propelling the growth of the global athletic footwear market. The great diversity in athletic footwear market provides tons of options to the customers. This helps in attracting more users and boosting the sale of the product and indirectly escalating the growth of the global athletic footwear market. Demand for comfortable footwear is also one of the crucial factors that drive the growth of the global athletic footwear market.

On the other hand, growing prices of raw materials is indirectly affecting the global athletic footwear market in a negative way. High price of raw materials means high price of the product. For instance, the new Nike shoes costs $720. That is a hell lot of price for a pair of shoes. This cost more than the latest iPhone 7 Plus. Hence, the rising price for raw materials is the main reason that is hampering the global athletic footwear market.

Well, the new Nike shoes are indeed a new definition of athletic footwear, but the price factor is the main reason that we should be concerned about.