Flip Flops Market – Overview
Flip flops are light sandals, typically made up of rubber or plastic, with a thong between the big and the second toe. Flip flops originated in Japan, when rubber production was high in the country during the World War II. During the 1950s, Japan began to ship rubber flip flops to the U.S. as one of its earliest exports after the war. Those were marketed as Zoris, which were Japanese thongs made up of straw.
In the past, flip flops have been associated with surfing, hot weather, and beaches. However, a change in fashion trends has led to the adoption of flip flops for everyday use, both indoors and outdoors. Flip flops are worn throughout the summer season, mainly on beach and primarily by women. The flip flops market is driven by factors such as change in consumer preference toward trendy footwear and rise in the number of purchases by young people. Flip flops are easy to buy, and consumers buy footwear on impulse.
Flip Flops Market – Segmentation
Based on product, the global flip flops market can segmented into ethylene-vinyl acetate (EVA), Polyvinyl chloride (PVC), and rubber flip-flops. In terms of end-user, the flip flops market can be classified into men, women, and children. Based on distribution channel, the global flip flops market can be categorized into online and offline. The offline segment can be further divided into stores and local markets. The choice of distribution channel depends on the purpose for which flip flops are bought. For instance, if the purchase is purely functional (beach), consumers prefer the local market, which has more convenient prices. However, when the functionality involves more trendy use and fashion statement, the favorite places for making purchase are online channels or offline trend stores.
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The flip flops market in China has seen a drastic transformation over the past few years. This is due to an increase in per capita income of the people, growing influence of western trends, and changing lifestyles Fashionable flip flops are gaining in popularity as they can be used both indoors and outdoors and are available at affordable prices. This type of footwear has caught the attention of a significant population base in the country.
Flip Flops Market – Drivers and Restraints
Brazil is a major manufacturer of footwear. The footwear manufacturing industry is spread throughout the country. However, states such as Ceará, the cities of Franca, Jaú and Birigui in São Paulo, and the regions of Vale do Paranhama and Vale do Rio dos Sinos are significant manufacturers in the country.
Key players in the global flip flops market are focusing on adopting new marketing strategies in order to gain a competitive market share. Companies are also improving their connection with consumers in order to formulate new marketing strategies. For instance, the company Hari Mari launched high-tech flip flops, which will allow the brand to continue its relationship with the wearer. The footwear is embedded with a special low-range chip that will help Hari Mari to gather data on customers.
Flip Flops Market – Key Players
Some of the other major industry participants in the global flip flops market are Adidas, Clarks, Crocs, Deckers Brands, Fat Face, Havaianas, Ipanema (Grendene), Kappa, Kate Spade New York, Monsoon Accessorize, Nike, REEF, Roxy/Quiksilver, Skechers, and Tory Burch. Brazilian brand Havaianas accounts for a significant market share in the flip flop industry, with yearly sales of about 200 million pairs. Havaianas is considered to be a democratic item that can be used by both the rich and the poor. The manufacturer has developed different marketing strategies regarding flip flop sales worldwide.
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