Report: U.S. Footwear Market Flat Year-Over-Year in First Quarter

Article From：SGB Media 

 

 

Despite the challenging economic climate, the U.S. footwear market, as reported by Circana, demonstrated resilience in the first quarter. Retail sales turned a corner, with revenues holding steady at $ 9.1 billion, on par with Q1 2023, and units sold experiencing a one percent lift.

 

“After four consecutive quarters of dollar declines and eight quarters of unit declines, footwear sales flattened out in Q1,” said Beth Goldstein, footwear and accessories analyst at Circana. “The bright spots continue to reflect consumer preferences for comfort and versatility across both fashion and athletic footwear. Seasonal categories remained challenged with the exception of buzzy casual slides and winter boots that were bought closer to need. In Q2, we can expect these priorities to shape spring and summer trends along with the impact of key cultural and sports events, including concerts, festivals and the summer Olympics.”

 

Goldstein reported in a media release that Leisure sales grew 1 percent year-over-year to $4.4 billion, while the Fashion category dipped 2 percent year-over-year to $2.8 billion and Performance footwear inched up 1 percent to $1.8 billion in the first quarter.

 

Key takeaways from Circana’s report include the following:

 

Running, soccer, and tennis have experienced growth within performance footwear.

Running shoe sales grew at a 5 percent rate based on dollars, despite a unit decline due to purchasing higher-priced products by runners and comfort seekers.

Dollar sales for performance tennis shoes increased 27 percent in Q1, and tennis-inspired footwear sales grew by 29 percent compared to last year.

The influence of soccer on footwear sales was also notable, with soccer cleat dollar sales increasing by 9 percent. The market for soccer-inspired footwear is over five times greater than one year ago, driven by the resurgence of the Adidas Samba.

Winter and snow boots generated some heat in Q1. Both dollar and unit sales increased by 38 percent versus Q1 2023.

Casual options, including comfort, sport and recovery slides were strong sellers in Q1, despite a decline in the sandal category overall.

Kids’ footwear outpaced the rest of the market, with dollar sales and units sold up 6 percent. Average prices were flat to last year in this segment.