Online Shoe Biz Banking Big
by The ShoesTV Team January 26th, 2012 at 9:56 AM
Much like heel heights, profits from online shoe sales are skyrocketing. In 2012 revenue generated from online shoe sales is projected to reach $7.8 billion, representing an increase of 16.3% from 2011, according to a report from industry and market research firm IBISWorld.
A selection of shoes from myShoes.com
Now may be the time to launch your own online shoe store. IBISWorld estimates that industry revenue will increase at double digit pace over the next five years.
But beware, report author Brian Bueno commented that, while the industry will continue climbing over the coming years, "an increasingly saturated market will result in relatively slower growth."
Overall, the U.S. Census Bureau expects online footwear purchases to account for about 3.6% of all e-commerce sales in 2012. So if you have a hankering to start your own business or have the cash to hire a big name spokesperson to push your shoes, it's time to get moving and become an entrepreneur.