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Fashion sneakers and boots are positioned to sell well this holiday season, as are the brands and retailers that speak to the consumer priorities of comfort, coziness, convenience and versatility. Beth Goldstein outlines the trends and her expectations for the footwear industry this holiday.
It’s been quite some time since Nordstrom announced that they were going to be opening their first Nordstrom Rack store in Canada; and since then, there has been significant buzz around when this was going to happen.
With four snowstorms hitting the Northeast in March, seasons are blurring as late winter/early spring is seemingly colder and snowier than ever. Contrary to early ads touting sandal weather, boot sales in March have grown the last two years, with the top growing cities being New York, Philadelphia, Chicago and Boston.
Fashion footwear and accessories players are looking for opportunity in 2018, following a soft 2017.
In a recent blog I highlighted some of the major differences between Millennials and Generation Z. I get a lot of questions on how to understand the profile and values of Gen Z, and for brands and retailers it’s certainly necessary to understand this important next generation.
Contrary to the positive overall results we saw in the first quarter of 2015 and 2016, Q1 was a mixed bag that left the total U.S. athletic footwear market down 3 percent for the first three months of 2017.
It’s the end of another fascinating year for the U.S. sports business, so that means predictions time!
Why should ugly sweaters and pajamas get all the attention? Holiday is a great opportunity to promote footwear as well. Almost one-quarter of annual, total footwear dollar sales are generated in November and December*, and for certain categories that percentage is steadily increasing. In addition, last month almost half of consumers reported that they planned to purchase footwear as a gift this holiday season**.
Adidas has opened its largest store in the world on Fifth Avenue in New Your City and it is amazing.
The hottest trend in the U.S. athletic shoe market right now is classic, or retro, footwear. The overall classics category is growing at a +29 percent pace for 2016 so far through October, according to retail sales data from The NPD Group – five percentage points greater than this time in 2015 and currently the strongest player in the athletic footwear market. While retro basketball shoes have been hot for more than a decade, retro running and retro tennis are now growing quickly as well.
Last holiday season was a particularly strong one for many major aspects of the sports business. There are several factors making this year’s challenging for the industry, but while this year won’t top last, I still expect a fair holiday performance for the world of sports retail.
U.S. athletic footwear results in Q3 were softer than they were in the first two quarters of the year, with dollar sales growing by only 2 percent for the quarter, compared to the mid-single digits for the first two quarters.
Donald Trump shocked the world on Tuesday night with his presidential win. His victory could have deep implications for the sports industry, and the footwear market in particular.
- A Fashionable and Functional Holiday for Footwear
- Timing is Everything This Holiday
- Merry and Bright for Beauty
- Sneakernomics: U.S. Team Sports Equipment Q3 Recap
- Foldables Are Coming
- Another Look at Video Game Industry Predictions for Holiday 2018