Luxury Leather Shoes and Accessories for Men A Growing Market
High-end men’s fashion accessories and shoes are popular in both traditional and exotic leathers. The average consumer, for example, will tend to wear a minimum of 4 leather items at a time. In addition to having a pair of exotic skin shoes for men on their feet, they may also be wearing an exotic belt. Their watch will have a fine leather band, and their wallet will also be made of luxurious leather.
There are a variety of exotic, globally-traded leathers available, such as crocodile, stingray, and python. Other exotic leather shoes for men include Ostrich skin boots, alligator skin shoes, and mens eel skin shoes. Perhaps because these types of leathers are placed in the “other” category, they only account for 1% of all globally-traded leathers.
Between the years of 2009 and 2014, the retail sales value of designer footwear for men experienced growth. Data shows that sales values increased approximately 39% over this time period, which is a significant increase over prior years.
Dress shoes for men comprise 6% of the total shoe market share. On a global basis, they account for 40% of sales. It’s interesting to note that in 2011 alone, men spent more than women on luxury items such as designer leather accessories. Furthermore, their overall spending grew at nearly twice the rate.
The Millennial age group, which is comprised of adults between the ages of 18 and 34, are major consumers of personal accessories. They comprise approximately 23% of the United States’ population. Millennial men, however, are the primary consumer base for these items.
Whether these Millennials are purchasing exotic skin shoes for men, or more traditional items, such as leather Oxford shoes, they appreciate quality leather shoes and accessories. Derbies and Oxfords are both considered to be formal lace-up shoes, which are popular with the Millennial and other age groups.
Psychology studies show physical appearance is a determining factor 55% of the time when someone forms a first impression. As a result, it is not surprising that luxury Italian leather goods are popular. Since these studies also show that first impressions are usually made within 7 to 17 seconds, that is sufficient time to take in a person’s overall look, their shoes included.