Running Leads Performance Shoe Gains in Q2, Circana Finds

The footwear market slowed in the second quarter of 2023, but performance footwear — led by running — saw solid gains. According to new data from Circana (formerly IRI and The NPD Group), U.S. footwear industry sales revenue was down 5 percent at $10.3 billion in the second quarter, compared to the same time last year. This data covers wholesale footwear sales and does not include brands’ direct-to-consumer businesses. Performance footwear was the fastest-growing segment in the market in Q2, with sales up five percent year-over-year to $1.9 billion, largely driven by men’s and kids. Soccer, basketball, and American football all saw gains, but running footwear was responsible for 40% of the performance category’s growth. Footwear industry analyst at Circana Beth Goldstein noted that rising average prices could impact further growth and how consumers spend on shoes — despite the fact that price increases have started to level off. Retail footwear prices dropped 0.9 in June compared to the prior year, marking the first time prices dropped in 26 months. According to the Footwear Distributors and Retailers of America (FDRA), year-to-date footwear prices are up just 0.2 percent and are expected to decline year-over-year through the second half of 2023. “Consumers will continue to prioritize their must-haves

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