Shoes Brand Ranking: Top Strategies to Dominate the Footwear Market in 2024

The Insights Behind the Shoes Brand Ranking

Shoes, as demonstrated by fashion icon Carrie Bradshaw, are more than just accessories—they are statement pieces. With the global footwear market projected to reach $412.90 billion in revenue by 2024, according to Statista, footwear brands must excel in a fiercely competitive environment to stand out. However, to secure a spot in consumers' closets, brands need more than just trendy designs.

Reflecting on the first half of the year, footwear brands must evaluate their performance and analyze market success strategies. To ensure growth and sustained success throughout the remainder of the year, brands must elevate their efforts by forging strategic partnerships, capitalizing on influencer endorsements and securing an optimized presence in growing markets.

Crafting a winning strategy is just the beginning; understanding who will represent the brand and how the content will be promoted is essential to capturing the elusive attention of consumers worldwide. To guide you through these challenges, we have benchmarked the performance of five footwear brands during the first half of 2024, revealing the strategies that will set the stage for success in the second half of the year.

• Influencer endorsements on TikTok have proven to be highly efficient, with a higher average Media Impact Value® (MIV®) per post compared to Instagram. Steve Madden excelled in overall influencer performance, generating a total of $49.9M in Media Impact Value® (MIV®), with TikTok delivering the highest content efficiency at an average of $10.6K MIV per placement. Mega influencers have been particularly impactful for Steve Madden on TikTok, led by US-based influencer Michaila Cothran, who alone contributed $691K in MIV.
• Celebrities have emerged as the leading Voice in driving brand visibility, especially in growing markets. In India, ALDO saw its best performance from celebrity endorsements, generating a total of $2.5M in MIV, with actress Avneet Kaur contributing $650K MIV. Similarly, actress Kajal Aggarwal, garnered $1.2M MIV for Steve Madden.
• Thinking globally while acting locally has proven to be an effective approach in brand-owned media strategies. ALDO’s owned media Voice delivered the best performance, generating $14.3M in MIV across its global accounts, including key markets such as Turkey, Singapore, South Africa, Israel, and South Korea. Instagram emerged as the top-performing channel, with the most impactful placement featuring actors Aditya Kapur and Janhvi Kapoor in a campaign highlighting ALDO's Pillow Walk technology.
• Influential brand ambassadors have been powerful drivers of brand value, highlighting the importance of a quality-over-quantity approach. Kylie Jenner emerged as one of the top-performing Voices among the five brands, generating $3.0M in MIV for Sam Edelman as the face of its 20th anniversary campaign. 

Footwear brands must think and plan strategically to drive awareness year-round, both locally and globally. With collaborations, campaigns and content being created massively on a daily basis, brands need to strategically allocate resources  toward the activities that most resonate with  the target audience in order to drive value efficiently.  Leveraging data and insights from proven successful strategies, will propel brands to new heights in this second half of the year. Measure your success, pivot strategies with agility and achieve top ranking status.