Shoes are one of the best ways to show off your personality, but have you noticed how the prices of shoes have gradually gone up over the past few years?
I am sure most of you have been in a shoe store, saw a pair you wanted, looked at the price, and then walked out in confusion.
When you see the price tag, your first thought is usually, “Why are these shoes so expensive?” after all it’s just a shoe. You’re in luck if you’ve ever wondered the same thing because I’m about to answer it in this article.
Top 10 Reasons Why Shoes Are so Expensive:
To make your future shoe purchases more practical, let’s analyze some of the most important reasons that affect shoe pricing.
1) Best Quality Materials:
Shoes cost more than they did before, and there are various reasons behind this. The quality of the materials used to produce the shoes is a major factor in the retail price.
Some companies would rather pay more for higher-quality materials, but they need to make a profit on each pair of shoes they sell.
Good quality shoes are typically made from leather, which can come from a variety of animals including calfskin, snakes, cows, pigs, and even deer, and elk.
Due to their strength and lightweight, natural materials are expensive but give comfort without making the shoes feel heavy.
Synthetic materials, which are typically used to make cheaper shoes, don’t last as long as leather and don’t provide the same level of comfort. Investing more money into higher-quality shoes usually results in additional benefits.
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2) Unique Design:
You may not want to wear shoes that are similar to those worn by everyone else. Most people want designs that are distinctive and stand out. You can even have your shoes customized if you are prepared to spend extra.
Every time, brands create some shoes with unique designs, and some even release many lines of shoes with unique designs that are only accessible in limited quantities. This indicates that they can charge a higher price due to huge demand.
Unique footwear does not necessarily have to feature a weird or unusual design. Some vintage and classic shoe styles are produced and may be more expensive than very fancy-looking shoes.
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3) The Brand Name:
Most of the time, the brand of a product affects how much it costs. This is especially the case for shoes.
Brands have the motivation to provide high-quality products when consumers trust and rely on a brand. Also, the brands may benefit from good past performance and can charge higher costs without affecting their sales.
Even though the production cost of shoes is low relative to their market price, the value of the brand name attached to them may be considerably higher.
Moreover, High-end shoe companies typically charge more because of the time, materials, and extensive labor needed to manufacture their shoes. Hence, it’s easy for more well-known brands to charge a lot more if they have a good history and a loyal customer base.
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4) Higher Labor Costs:
Labor from European countries specifically Italy and America is frequently used by high-end brands. These continents have a lot of labor expenses.
Factories are widely operated in these countries because they are thought to provide higher-quality shoes. The number of people working on a single design is also a factor.
People who design shoes, handcraft, or develop materials for expensive shoes do not have low-paying jobs. Since they work for a high-end brand, they have also been paid well, and the brand covers all the expenses by charging more.
For the production of high-quality construction materials, customized capital and machinery are needed, which also hugely drives up the price of the shoes.
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5) Inflation:
Among the products whose costs are expected to rise due to inflation are shoes. A consumer’s purchasing power declines as a result of inflation.
The price of the leather, fabric and other materials used to produce shoes is getting costly which boosts the overall price.
Shoe factories have to spend more money to buy the materials need to make shoes, so factories charge more for them. Retailers spend a greater price on the products they sell so they will cost more to get a profit.
Prices have gone up at least twice per year as much as they were before and no expert knows how long inflation will last or if it will ever go down again.
The U.S. Bureau of Labor Statistics reports that if a pair of shoes in 1935, cost $20, the same pair of shoes cost $206.87 in 2022 which is 934.34% higher, with an average inflation rate of 2.72% per year.
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6) Modern Innovation:
Cheap shoes can’t even be constructed well, how can they have extra qualities that will provide you benefits? The price of footwear can be increased by the addition of innovative technology that is only available in certain models.
Knitting technology is used to make lighter shoes without sacrificing comfort or support.
Some model offers adaptable lacing systems that let the wearer tighten the strings in some spots while leaving them loose in others. The pressure and stability of the shoe can be adjusted by the wearer with this feature.
Furthermore, Motion-sensing technology built into the shoes keeps track of steps taken, miles traveled, and calories burned.
VR technology is being used by some shoe manufacturers to allow customers to shop for footwear without leaving the comfort of their homes.
Designers and manufacturers of shoes are constantly innovating new ways to improve or upgrade their products, and charging more as a result. You can take advantage of all the benefits offered by these shoes, provided that you are willing to spend a higher price.
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7) Target Market:
Big shoe brands want to sell to upper-class or wealthy people. They place the right numbers on the price tag because they know what kind of customer they want.
Most brands cost between a few hundred to thousand dollars, and even though this price is high for most customers, wealthy people will buy these shoes to show their status and value.
Luxury brands have shoes that fit the image of the people they want to attract. This is done by either using elite-quality materials or making an exclusive product.
For instance, take a look at Louis Vuitton, whose target market is affluent people. So, since their wealthy customers have money they are willing to spend on shoes, the brand can make its shoes more expensive.
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8) Sustainability:
Some brands are proud of the fact that they pay attention to sustainable fashion practices, which don’t come cheap.
Nowadays, more and more consumers have an interest in recycled products and sustainable fashion.
There’s no question that the fashion industry sees a lot of waste. Additionally, the United States has a reputation for being extremely wasteful with related to fashion products.
A gradual but constant increase in shoe pricing is to be expected as more shoe companies move toward operating their sustainable factories.
The biggest downside of opening their own manufacturing factories is the significant financial investment required. Since they are investing money themselves, they must cover the expenses by charging hefty costs.
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9) Advertising and Branding:
Most shoe companies run campaigns and ads to push their branding and show the world how cost-effective and unique their products are. Successful shoe companies rely heavily on their marketing and advertising strategies.
According to a survey of footwear industry representatives in the United States, it was reported that the industry have spent “773.7 million USD” on advertising in 2021.
When a famous person is featured in an advertisement for a luxury brand, the price of that brand naturally rises.
Big companies don’t follow the general trend of advertising that aims to reach as many people as possible. They focus on a specific market that can pay for their shoes and then they continue to buy from them.
The best method to ensure a dedicated consumer base is to build a brand that can emotionally engage people with its products.
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10) Low Supply and High Demand:
There are many successful shoe brands whose products or services are seen as rare or special. These companies cater to the higher class by providing their customers with unique footwear in small quantities.
A few strategies, such as limiting the number of shoes or making them a collector’s item, will undoubtedly increase the demand for some shoes.
Instead of making 50 pairs of shoes, for instance, the company will only sell 5. By limiting the quantity of a product, the value is increased. It’s the same in nearly every industry and with every type of product. When you desperately want a product, you can pay a high amount for it.
Even though scarcity isn’t just about having a small number of products, it can also be seen in the materials that brands used in the shoes.
If they have to hire a well-known designer to make a rare pair of shoes in their line, the price of that shoe can go up by a lot. Consequently, if a brand is going to outsource a rare piece of shoes in its collection, it can considerably increase the price.
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Frequently Asked Questions:
Are Expensive shoes good?
Expensive shoes are made from superior materials, fully featured, follow strict manufacturing standards, and are less susceptible to damage. Additionally, they will be more durable when worn for activities, exercise, or daily wear.
Remember that, Even if a pair of shoes cost more, that doesn’t always mean they are better. This is also true in reverse, just because shoes cost less doesn’t mean it’s of poor quality. It’s important to get knowledge about the products you want before you buy them.
Are Expensive Shoes worth the money?
High-quality shoes are mostly well worth the additional cost. In general, shoes that cost more look better, last longer, and are more comfortable than cheap shoes. If the cost of your preferred option is too high to be practical, you should consider other options. But still, the fact that shoes can sell for hundreds of dollars shows that there are a lot of people who think they are worth it.
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Conclusion:
The cost of a pair of shoes is influenced by many factors, some of which are discussed in this article. High-end footwear not only makes use of premium, natural materials but also provides a variety of useful features. You can rely on their material to last for a long time and provide comfort to your feet with luxury.
In the end, though, it’s all a matter of preference. Some customers are prepared to spend more on shoes that have an appealing design or provide health benefits or some think they will help them stand out in society.
If your budget allows for it, you should check out all the specifications and reviews of an expensive pair of shoes before you buy them. We hope you learned a lot from this article and found the answer you were looking for.
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