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Market Fluctuations and the Crocs' Resurgence
- 1 Business School, The University of Adelaide, Adelaide, 2006, Australia
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Abstract
This paper delves into the reasons for the decline in sales of Crocs and the reasons for its counterattack. The decline in sales of Crocs was mainly affected by changing fashion trends and consumer preferences, a lack of effective marketing and promotion strategies, and the proliferation of copycat shoes in the market. However, Crocs managed to fight back by focusing on providing a comfortable foot feel, shifting marketing strategies and leveraging the influence of social media, as well as the unique characteristics of Crocs. This reversal not only led to the economic recovery of the shoe industry and workshops but also regained the importance of Crocs in the field of culture and fashion. There are a few suggestions to pay attention to for the future prospects and sustainability of Crocs: First, pay close attention to changes in consumer trends and adjust product design and promotion strategies in time to adapt to changes in market demand. Secondly, pay attention to the safety of Crocs, continuously improve the comfort and quality of products, and ensure consumer satisfaction and trust. Finally, strengthen intellectual property protection, prevent infringement of counterfeit products, and maintain brand image and market share. By proactively addressing these critical issues, Crocs can secure its future growth and continue to succeed in the highly competitive footwear market.
Keywords
Crocs, brand strategy, brand counterattack
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Cite this article
Peng,Y. (2023). Market Fluctuations and the Crocs' Resurgence. Advances in Economics, Management and Political Sciences,49,319-323.
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Volume title: Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
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