NPD Group Report: U.S. Footwear Q3 Sales Flat

Source:China Sport ShowRelease time:24-Oct-2022Clicks:

Article From：SGB Media

According to the NPD Group, in third quarter 2022, U.S. footwear sales revenue was flat at $10.8 billion versus Q3 2021. It further noted that gains in fashion footwear offset declines in performance footwear.

According to NPD’s POS data,

leisure footwear sales were flat at $5.2 billion,

fashion footwear sales reached $3.5 billion, up 7 percent;

performance footwear sales totaled $2.1 billion, down 6 percent year-over-year; and

while sneakers continued to capture the largest piece of the footwear business, fashion shoes and sandals were the top growth categories in Q3, based on sales-revenue gains.

As the fastest-growing area of the footwear market this year, the fashion segment has recovered to pre-pandemic 2019 levels, according to NPD, as consumers returned to in-person activities and events, stocking their closets with dress and casual styles.

From a channel perspective, brick-and-mortar store sales were flat in Q3 compared to last year, while e-commerce sales continued to grow, rising 4 percent. E-commerce outperformed in-store sales in all footwear categories except fashion, where the two channels performed equally.

“Social events are back on the calendar, prompting consumers to purchase dressier silhouettes to refresh and replenish their wardrobes, something they really haven’t had to do for two years,” said Beth Goldstein, fashion footwear and accessories analyst at the NPD Group. “These needs should help drive sales through the holiday season, although footwear sales are projected to be slightly down in the fourth quarter versus last year according to the NPD Future of Footwear forecast.”

“While athletic footwear sales remain above pre-pandemic 2019 levels, inflation and recession fears, coupled with lingering supply chain issues, are creating shaky ground for the industry,” said Matt Powell, sports industry advisor at the NPD Group. “We expect a heavily promotional holiday shopping season for athletic footwear as brands promote to drive sales and clear excess inventory.”