Industry and Competitor Analysis

Adyson, Jessica, Christian, Lucas

Pain Point Shoes that nurses wear are causing foot and lower back problems also cause work
injuries due to slipping
Competitors
● Shoes geared towards nurses
○ Dansko
■ Comfortable to wear for long hours (foot is not restricted)
■ Durable, easy to take on and off, removable components, non-marking
soles, dress code and easy to clean (specifically for people in the medical
industry)
■ Variety of materials (ex. Box leather, patent leather, suede, fabric/canvas)
■ Different products: clogs, heels, sneakers (have different widths, lengths,
and heel height)
■ Long-lasting (guaranteed to last hundreds of shifts)
■ Different styles to choose from depending on the work environment
■ What do they struggle with?
● Problem w/ industry: there are not many different soles inside the
shoe/don’t sell a variety of soles
■ How do they solve the pain point?
● Are not prone to slipping which reduces industries, shoe type is
comfortable to wear for long periods of time
■ Accomplishments?
● The Dansko Professional Clog is the number 1 shoe brand for
nurses because of its high quality and comfort that is also durable
■ Price: $120-$200, have to be replaced every 2 years if worn constantly
○ Insoles
■ Prefabricated insoles can be found in local drug stores for $50 or less
■ custom orthotic devices can average $300 to $500
■ Custom insoles do not guarantee pain relief for those with chronic
ailments
■ Orthotics are only manufactured after a podiatrist has conducted a
complete evaluation of your feet, ankles, and legs, so the orthotic can
accommodate your unique foot structure and pathology
■ Functional orthotics are designed to control abnormal motion. They may
be used to treat foot pain caused by an abnormal motion
■ Accommodative orthotics are softer and meant to provide additional
cushioning and support. They can be used to treat diabetic foot ulcers,
painful calluses on the bottom of the foot, and other uncomfortable
conditions.
 ■ The demand for the Foot Orthotic Insoles has seen a dramatic increase
over the past few years due to the increasing prevalence of diseases
such as diabetes, obesity, arthritis
■ the global foot orthotic insoles market registered revenues of around $2.5
billion in 2014 and is estimated to grow at a CAGR of 5.8% to reach $3.5
billion by 2020
■ A good insole should provide a mixture of supportive, hard structures and
softer structures which work together to reshape the alignment of your
feet
■ Completely soft insoles are not only ineffective but can exacerbate the
problem
■ How do they solve the pain point?
● They attempt to offer support to realign in the feet in order to
minimize pain
■ What do they do well?
● Can make shoes more comfortable and minimize discomfort
■ What do they struggle with?
● “One-size fits all” insoles are not always effective while custom
orthotic insoles can cost hundreds of dollars
○ New Balance
■ How do they attempt to solve the pain point?
● They don’t target nurses specifically with their shoes but they have
been making comfortable running and athletic shoes for decades.
They solve the pain point of a comfortable shoe. They are
commonly worn by ER nurses.
● Their shoes are breathable and lightweight
● They have good arch support and have compression resistance
properties
● Have shoes that help those with wide feet
■ What do they do well?
● They make quality shoes at an affordable price
● Their brand is huge and has good looking designs
■ What do they struggle with?
● Some reported cons of their shoes are that their soles become
loose if they are exposed to water
● They aren’t very durable
● They are not non-slip
Questions
1. What does the shoe industry look like in the United States?
a. The United States is increasing its imports of shoes as well as its exports, the
amount of shoes bought in the United States has increased by about 60 million
(pairs) over the last 8 years. We have stayed relatively constant with the
production of shoes in the US. This shows that the shoe industry could prove to
be lucrative due to its popularity in the United States.
Overview of the footwear industry in the United States from 2010 to 2018, based
on quantity (in million pairs)

2. How much revenue has been created by the shoe industry in 2019? Over the past
5 years? Revenue is predicted to decrease in upcoming years, in 2019 91,187m ranging
from athletic footwear to leather footwear to the industry that gains the most revenue,
textile/other. The revenue was the highest in the years 2014-2016, which could be
because of the growth of shoe brands catering to medical industries as well as the
increasing popularity of shoe brands.
3. How much of the shoe industry is focused on slip-resistant/medical shoes? In
reality, the shoes that are the most slip-resistant are not also the most relied on by the
medical industry. In fact Crocs, Timberlands, Fila, and Reebok are not prone to slipping,
but they are also not worn by many nurses. Though shoe brands like Dansko, New
Balance, and Sketchers are highly rated by nurses, they are not the best for slip
resistance. Slip resistance is a big reason why nurses get hurt on the job, so a shoe that
is supportive and resistant to slipping is what nurses are looking for.
4. How has the shoe industry changed over the past 5 years? What are the results of
these changes? Shoe brands like Dansko, Sketchers, New Balance, and Nike are
creating shoes that are more based on comfort than style which is bringing in people
who are on their feet all day and need supportive shoes. Dansko (the most popular
brand for the medical industry) was founded in 1999 and has been rated the number 1
shoe brand for medical professionals since 2012. A shoe technology that many big
companies are using is 4D Knitting Technology which is a one-piece upper design is
produced by a CNC knitting machine then assembled with the tongue, lining materials,
and reinforcements. This knitting technology once found only on expensive shoes is
rapidly expanding to lower-priced shoes. The cost depends on the number of colors and
fiber types. A single color polyester fiber design may cost $2.50, while a multi-color,
polyester spandex combination can cost $7.50 per upper.
5. What brands have the most positive reviews? What are their characteristics and
how do they benefit the people in that industry? We used an analysis of the Amazon
sales/ratings of 7 popular shoe brands: Nike, Adidas, Under Armour, Skechers, Reebok,
Puma, and New Balance. While Nike sells the most shoes on Amazon, it has relatively
low reviews at an average rating of 4.21. They are highly rated for their comfort and
highly regarded for their immense popularity. New Balance sells the second-highest
amount of shoes but has the worst reviews (about 4.10). New Balance is rated the most
comfortable: “its reputation for comfort is not a passing fad. The 990’s firm rubber
midsole is supportive and props your heels up” according to a popular footwear blog.
Puma is the best-reviewed brand out of the 7, although it sells considerably fewer
products compared to the other brands. Puma sneakers are known to be more
uncomfortable due to their lack of cushioned insoles, focusing on style rather than
comfort.
 6. How much is the shoe industry expected to grow? According to the online data
company, Scrape Hero, the online footwear market size will grow by over $70 billion
during 2019-2023.
7. Where does the shoe industry make the most revenue (what country)? The United
States (89 million), China (60 million), and Brazil (45 million) account for the most
revenue in the world.
Sources
● https://www.allheart.com/b-nurses-love-dansko/a/b-nurses-love-dansko/
● https://www.statista.com/outlook/11000000/109/footwear/united-states#market-revenue
● https://www.statista.com/statistics/232244/overview-of-the-us-footwear-industry/
● https://www.dansko.com/our-story
● https://www.statista.com/forecasts/758682/revenue-of-the-footwear-market-worldwide-by
-country
● https://www.scrapehero.com/popular-shoe-brands-on-amazon/
● https://nursemoneytalk.com/blog/best-new-balance-shoes-for-nurses
● https://www.highsnobiety.com/p/most-comfortable-sneakers/
● https://www.tmcnet.com/topics/articles/2019/03/29/441761-top-shoe-technology-advance
ments-2019.htm