Table of Contents
Overview
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- What you need to know
- Definition
Executive Summary
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- Slow but positive growth posted in highly competitive landscape
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- Figure 1: Total US sales and fan chart forecast of men’s and women’s footwear, at current prices, 2011-21
- The issues
- Aging boomers, especially men, purchase less footwear
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- Figure 2: Footwear purchased, by gender and age, July 2016
- Replacement drives most purchases, and shoppers rarely pay full price
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- Figure 3: Attitudes toward footwear, by gender, July 2016
- Evermore online shopping and omnichannel retailing opportunities
- The opportunities
- 18-34-year-olds purchase more shoes, do so for many reasons and shop online
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- Figure 4: Reasons for purchasing footwear, by males and females 18-34, July 2016
- Males 18-34 are enthusiastic buyers of athletic shoes, often ready to pay top dollar
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- Figure 5: Reasons for purchasing athletic footwear, by males and females 18-34, July 2016
- Hispanics comprise a young growing demographic, engaged in footwear market
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- Figure 6: Footwear purchased, by Hispanic origin, July 2016
- What it means
The Market – What You Need to Know
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- Positive growth of 2011-16 projected to extend through 2021
- Women’s footwear segment largest, but men’s segment faster growing
- Macro-economic and demographic factors shape market growth
Market Size and Forecast
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- Slow but positive growth posted in highly competitive landscape
- Demographic, tech, and fitness trends to shape growth through 2021
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- Figure 7: Total US sales and fan chart forecast of men’s and women’s footwear market, at current prices, 2011-21
- Figure 8: Total US sales and forecast of footwear for men and women, at current prices, 2011-21
Market Breakdown
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- Women’s footwear comprises over 60% of the total market
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- Figure 9: Market share of footwear market, by segment, 2016
- Men’s footwear segment, though smaller, has been faster growing
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- Figure 10: US sales of footwear market, by segment, at current prices, 2014 and 2016
Market Factors
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- Improving economic outlook lifts consumer confidence and spending
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- Figure 11: Index of consumer sentiment, January 2010-April 2016
- Growth among 25-44-year-olds and women 55+ to help drive market
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- Figure 12: Male population by age, 2011-16
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- Figure 13: Female population by age, 2011-21
- Hispanics comprise vibrant, youthful, family-focused footwear buyers
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- Figure 14: Population by race and Hispanic origin, 2011-21
- Getting fit and losing weight can drive demand for footwear
- Footwear retail landscape redefined by online, omnichannel shopping
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- Figure 15: Retailers shopped for footwear – In-store and online, July 2016
Key Players – What You Need to Know
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- Market includes 10 leading suppliers, many smaller ones
- Top athletic brands thrive with robust campaigns, inventive products
- Culture, music, and fashion icons help engage young adults
- Challenges in competing with D2C and omnichannel retailers
- Staying on-trend a challenge as sneakers become go-to casualwear
Overview of Major Footwear Suppliers
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- Diverse market embraces 10 leading suppliers, many smaller ones
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- Figure 16: Global footwear sales of major suppliers, active in the US market, 2014 and 2015
- Nike’s growth propelled by Jordan brand, women’s line, and D2C sales
- adidas gains steam in 2015, with growth extending into 2016
- Wolverine sees sales slide as lifestyle division struggles
- Caleres posts modest growth, keeps Famous Footwear profitable
- Skechers builds share as its comfortable casual shoes perform well
- Vans sees solid growth with classic styles, 50th anniversary collections
- Deckers core brands and DTC sales propel strong performance
- Steve Madden rebounds from weak 2014 with solid growth in 2015
- Despite online sales growth, Crocs’ sales tumble
- Under Armour increases footwear sales over 50%
What’s Working?
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- Reaching young adults via music, fashion, and popular culture
- adidas collaborates with rapper Kanye West on successful Yeezy brand sneaker
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- Figure 17: adidas “Supercolor” ad, March 2015
- Skechers and Keds appeal to young women via popular female singers
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- Figure 18: Skechers “NO” ad with Meghan Trainor, March 2016
- Major athletic brands boast high-profile sponsorships and partnerships
- Classics, sneaker fusion with high fashion and new technologies
- Classic looks from adidas and retro, anniversary offerings from Vans and Keds
- Vans and Puma among suppliers fusing high fashion and sneakers
- New technologies to improve comfort, fit, and performance
What’s Struggling?
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- Crocs’ struggles exemplify challenges of off-trend footwear
- Some specialty footwear stores struggle in changing landscape
- Deckers’ and Caleres’ omnichannel strategies offers potential tools, approaches
- Birkenstock struggles with knock-offs in the online market place
What’s Next?
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- Smart shoes with “laceless” systems that set optimal support
- Wearable technology, mobile apps, and smart shoes
- 3-D printing offers next step toward customization
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- Figure 19: Under Armour “3D Printing Ad”, April 2016
- Modular shoes with customizable components
The Consumer – What You Need to Know
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- Age, affluence, parental status and Hispanic origin impact engagement
- Replacement is key, but many secondary factors can also drive purchase
- Males 18-34 stand out as engaged, highly motivated athletic shoe buyers
- Online retailers are gaining ground on in-store retailers
- Comfort is a top priority, especially for older footwear consumers
- Young consumers often use social media, seek online discounts
Type of Footwear Purchased
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- Purchasing level of women’s shoes outstrips that of men’s shoes
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- Figure 20: Type of footwear purchased, July 2016
- A greater number and range of women’s footwear purchased
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- Figure 21: Type of footwear purchased – Women’s, July 2016
- Figure 22: Type of footwear purchased – Men’s, July 2016
- Women and 18-34-year-olds are most avid consumers
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- Figure 23: Type of women’s footwear purchased, by gender, July 2016
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- Figure 24: Type of women’s footwear purchased, by female and age, July 2016
- Figure 25: Type of women’s footwear purchased, by male and age, July 2016
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- Figure 26: Type of men’s footwear purchased, by gender, July 2016
- Figure 27: Type of men’s footwear purchased, by male and age, July 2016
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- Figure 28: Type of men’s footwear purchased, by female and age, July 2016
- Household income, especially up to the $50K level, drives purchase
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- Figure 29: Type of women’s footwear purchased, by household income, July 2016
- Parents purchase far more footwear than non-parents
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- Figure 30: Type of women’s footwear purchased, by parental status, July 2016
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- Figure 31: Type of men’s footwear purchased, by parental status, July 2016
- Hispanics comprise dynamic, engaged consumer base
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- Figure 32: Type of women’s footwear purchased, by Hispanic origin, July 2016
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- Figure 33: Type of men’s footwear purchased, by Hispanic origin, July 2016
Reasons for Purchasing Footwear
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- Replacement drives many purchases, but secondary reasons abound
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- Figure 34: Reasons for purchasing footwear, July 2016
- 18-34-year-olds more likely to have diverse reasons for purchase
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- Figure 35: Reasons for purchasing footwear, by gender and age, July 2016
- More affluent buyers driven by a greater number, range of motives
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- Figure 36: Reasons for purchasing footwear, by household income, July 2016
- A wide range of motives propel parents to buy shoes
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- Figure 37: Reasons for purchasing footwear, by parental status, July 2016
- Blacks and Hispanics less likely to be driven by replacement alone
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- Figure 38: Reasons for purchasing footwear, by race and Hispanic origin, July 2016
Reasons for Purchasing Athletic Footwear
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- Replacement is major reason, trailed by everyday use, fashion, sports
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- Figure 39: Reasons for purchasing athletic footwear, July 2016
- Males 18-34 seek sneakers for fashion and sports, value endorsements
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- Figure 40: Reasons for purchasing athletic footwear, by gender and age, July 2016
- Hispanics more likely to have started exercising, want latest model
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- Figure 41: Reasons for purchasing athletic footwear, by Hispanic origin, July 2016
Retailers Shopped for Footwear
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- Consumers increasingly use a mix of in-store and online retailers
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- Figure 42: Retailers shopped for footwear – In-store and online, July 2016
- Department stores remain most widely used in-store retailer
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- Figure 43: Retailers shopped for footwear – In-store July 2016
- Amazon and department store websites are top online sources for shoes
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- Figure 44: Retailers shopped for footwear – Online, July 2016
- Age and gender shape the number and type of in-store retailers used
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- Figure 45: Retailers shopped for footwear – In-store, by gender and age, July 2016
- 18-34-year-old males stand out as avid online shoppers
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- Figure 46: Retailers shopped for footwear – Online, by male and age, July 2016
- Online footwear retailers such as Zappos draw affluent consumers
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- Figure 47: Retailers shopped for footwear – In-store, by household income, July 2016
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- Figure 48: Retailers shopped for footwear – Online, by household income, July 2016
- Parents are key shoppers, using wide range of retailers
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- Figure 49: Retailers shopped for footwear – Online, by parental status, July 2016
- Hispanics use gamut of retailers, especially online
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- Figure 50: Retailers shopped for footwear – Online, by race and Hispanic origin, July 2016
Attitudes toward Footwear
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- Comfort is king with sales, trusted styles, and fashion also in play
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- Figure 51: Attitudes toward footwear, July 2016
- Women aged 35+ seek out sales, Men 18-34 most willing to pay full price
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- Figure 52: Attitudes toward footwear, by gender and age, July 2016
- Attitudes of affluent buyers underpin their higher purchasing
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- Figure 53: Attitudes toward footwear, by household income, July 2016
- Hispanics more likely to value latest trends, enjoy shoe shopping
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- Figure 54: Attitudes toward footwear, by race/Hispanic origin, July 2016
Online Shopping Behaviors
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- Online shopping comfort growing; only slim minority uses social media
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- Figure 55: Online shopping behaviors, July 2016
- Age is key factor governing online shopping, social media usage
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- Figure 56: Select online shopping behaviors, by gender and age, July 2016
- Parents engaged in online shopping and turn to social media
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- Figure 57: Select online shopping behaviors, by parental status and gender, July 2016
- Hispanics more likely than non-Hispanics to get ideas via social media
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- Figure 58: Select online shopping behaviors, by race and Hispanic origin, July 2016
Appendix – Data Sources and Abbreviations
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- Data sources
- Sales data
- Fan chart forecast
- Consumer survey data
- Consumer qualitative research
- Direct marketing creative
- Abbreviations and terms
- Abbreviations
- Terms
Appendix – Market
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- Figure 59: Total US sales and forecast of footwear for men and women, at inflation-adjusted prices, 2011-21
- Figure 60: Total US sales and forecast women’s footwear, at current prices, 2011-21
- Figure 61: Total US sales and forecast of women’ footwear, at inflation-adjusted prices, 2011-21
- Figure 62: Total US sales and forecast men’s footwear, at current prices, 2011-21
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- Figure 63: Total US sales and forecast of men’s footwear, at inflation-adjusted prices, 2011-21
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