The MAD Shoes vs. the market - lessons learned from our competitor analysis

Given our expertise in digital marketing, the next logical step was to start a competitor analysis and identify market trends, consumer preferences, and gaps in the market. Even though I had a clear vision for the MAD brand, I needed to see what others were doing to get a sense of how I could improve my concept. 

• Yes, I wanted a high-heel, side-cut stiletto, Manolo Blahnik/Rene Caovilla-inspired (but more affordable), with a pointy toe.
• Yes, I wanted the color to be fuchsia pink.
• Yes, I wanted the shoe to have a handmade accessory on the front.

But how many companies were truly intent on making a difference with the accessories or fabrics they used?

Let the analysis begin …

We started with a local competitor analysis for Romania. We closely examined key players in the luxury and mid-range shoe market, looking at product designs, pricing strategies, and marketing approaches. The goal was to identify what worked well and where competitors were falling short.

From this, we noted several important trends: 

• Bold, vibrant colors are becoming increasingly popular
• Customers are leaning towards unique design elements 
• Handmade details, in particular, are a selling point, often associated with craftsmanship and exclusivity, which aligns perfectly with our vision for the MAD brand.

Key elements we analyzed for our competitor analysis 

Next, we expanded our research beyond Romania, focusing on international brands, particularly from Italy and Spain, which have a strong tradition in high-end footwear and a significant online presence. This allowed us to gain valuable insights into how these brands position themselves in the global market and helped us identify ways to differentiate our offerings for The MAD Shoes. What we analyzed:

Product features (design & materials)

We examined the design aesthetics and material choices of leading Italian and Spanish brands. Many emphasized artisanal craftsmanship, with a focus on luxurious materials like premium leather, suede, satin, crystals, etc. 

These insights highlighted the importance of high-quality materials, but also gave us the opportunity to introduce a more contemporary, bold flair for our fuchsia pink stiletto with the handmade accessory.

Price range

Pricing analysis revealed that while brands like Manolo Blahnik and Rene Caovilla catered to the high-end market, mid-range brands from Spain and Italy offered similar designs at more affordable prices, without compromising on quality. 

This confirmed our goal of positioning MAD shoes as a premium, yet affordable, alternative. We aimed to target the buyers that were equally inspired by a high quality stiletto, but at a more accessible price point, thus offering luxury design at mid-market prices (between €200 and €500).

Social media activity (Instagram focus)

Instagram was a key platform for all these brands. We studied how they curated visually stunning content that emphasized product aesthetics, lifestyle appeal, and craftsmanship. The use of reels and stories was a common strategy to showcase behind-the-scenes production processes, giving an authentic feel to the brand’s identity.

Influencers played a significant role, with many collaborations centered on fashion bloggers and celebrities, helping to amplify their reach. This made us consider the importance of a well-defined Instagram strategy for MAD, including influencer partnerships and user-generated content to build authenticity and engagement. 

Marketing strategy

Brands from Italy and Spain heavily invested in digital marketing, using targeted ads on platforms like Instagram. Their ads often focused on seasonal collections or exclusive launches, coupled with limited-time offers. In addition to influencer marketing, brands actively engaged their audience by responding to comments, hosting giveaways, and encouraging customers to share their own shoe styling ideas. 

Influencer associations appear to be a winning strategy for brands such as Hardot, a Romanian shoe brand, René Caovilla, and even newer names like Le Silla. Having celebrities wear a brand on special occasions generates significant awareness and boosts brand visibility. We experienced this firsthand when our MAD Shoes were worn by Bianca Boieroiu at the 75th edition of the Emmy Awards, in Los Angeles, in January 2024.

This interaction fostered a sense of community and loyalty, something we aim to replicate with MAD, by encouraging users to be part of the design journey and sharing their personal style with our products.

Distribution & sales 

We found that most international brands maintained a robust online presence through their e-commerce platforms, but also placed importance on selective physical stores for an immersive brand experience. Flagship stores in key fashion capitals allowed customers to interact with the brand in person, while online stores offered global reach with seamless user experiences and diverse payment options. This for both premium and mid-market brands.

Additionally, collaborations with high-end retailers were a key strategy for boosting visibility. For MAD, this highlighted the importance of optimizing our e-commerce platform for a flawless shopping experience, while also exploring potential partnerships with physical retailers in major fashion hubs.

WHY every brand should care about the competition 

There’s one thing we’ve learned after 14 years in tech - you don’t look at the competition to copy anything; you look at the competition to see what you can do to improve. Understanding what others are doing helps you identify gaps in the market, spot emerging trends, and find opportunities to innovate. It also allows you to anticipate changes in consumer behavior and refine your strategy to stay relevant.

Launching a product brand is, without a doubt, challenging. There are moments when you may feel overwhelmed by the volume of competitors or uncertain about how to build your own space in the market. However, these moments are exactly when a competitor analysis becomes crucial. Instead of feeling discouraged, you can view the competition as a source of insight guiding your brand toward innovation, creativity, and a sharper focus on what makes you unique.

The MAD Shoes is not a mass-market shoe brand. It will never be one. The MAD Shoes is a niche brand that caters to women who value bold, unique designs and high-quality craftsmanship. Our customers are fashion-forward, confident, and unafraid to stand out. They seek shoes that not only complement their personal style but also make a statement. By embracing this niche, we’re able to focus on creating shoes with a distinct personality, attention to detail, premium materials, and an artistic touch that sets us apart from mainstream options. This is where our strength lies: exclusivity.

WHAT we’ve learned from our competitors 

After analyzing dozens of shoe brands in Romania, Germany, Spain, and Italy, we’ve drawn several key conclusions that have shaped our approach for The MAD Shoes:

The power of storytelling

Successful brands don't sell shoes; they sell a lifestyle, a story. Whether it’s through their history, the artisans who craft the shoes, or the materials they use, top brands excel at communicating their story in a way that resonates with their audience. This reinforces the importance of building a strong brand narrative for The MAD Shoes, emphasizing our unique style, the craftsmanship behind every pair, and the bold personality of our designs.

Quality matters, always

Across all regions, leading brands consistently highlight premium materials and craftsmanship. This is an expectation, not a bonus, for customers in the high-end shoe market. For The MAD Shoes, it confirms our commitment to using high-quality materials and skilled artisans to create shoes that look beautiful and last, while still being more affordable than luxury competitors.

Embracing bold designs

One trend we’ve noticed is a growing demand for bold, distinctive designs; especially vibrant colors and unique shapes. Consumers are moving away from safe choices and are looking for statement pieces that reflect their individuality. Our fuchsia pink stilettos, adorned with handmade accessories, fit perfectly into this trend, allowing us to stand out in a sea of neutral designs.

Pricing for accessibility, not compromise

While luxury brands command high prices, there’s a significant space in the market for high-quality, fashion-forward shoes at more accessible price points. This is where The MAD Shoes will carve its niche: offering a luxury aesthetic and craftsmanship at a price that doesn’t alienate customers who aspire to own statement footwear. Capsule collections based on limited edition designs are here to make a statement in the sustainability direction.

Final thoughts 

Understanding the competition has helped us acknowledge that there’s great potential for MAD Shoes. All we need to do is take two steps forward, even if it means falling three steps behind at times. This perspective reminds us that progress is not always linear and that setbacks are part of the journey. Each challenge we face and each lesson we learn from our competitors will only strengthen our purpose and refine our strategy. By staying focused on our vision and leveraging the insights gained, we can continue to innovate and find our niche in the market. 

Stay tuned for our 3rd article from the MAD Journey series of articles where we will dig deeper into how we developed our customer personas. Defining your target audience can be challenging. It involves not only identifying who your ideal customers are but also continually adapting to changes in their preferences, behaviors, and needs. In our upcoming article, we’ll dive into the specific struggles we faced when creating and refining customer personas.

We'll examine how initial assumptions might change as market conditions shift, consumer trends evolve, and new data becomes available. The process requires a commitment to ongoing research and analysis, including gathering feedback from customers, monitoring industry trends, and leveraging analytics tools.

Additionally, we’ll discuss the importance of staying flexible and responsive. Your ideal customer profile should not be static; it should evolve based on insights gained from interactions, market developments, and emerging trends. Understanding this dynamic nature will help ensure that your strategies remain relevant and effective.