The AlixPartners 2024 Consumer Sentiment Index (CSI) has found that Nike is still the leader in customer preference for active footwear retailers but an accompanying survey conducted by the financial advisory and global consulting firm is the latest to indicate that the brand has lost market share to competitors, including Adidas, New Balance, Hoka, and On.

Likewise, recent studies based on surveys from Stifel and Piper Sandler found that Nike has lost popularity with younger consumers. See SGB Media coverage of those surveys at bottom.

The AlixPartners findings were based on responses from a July 2024 survey it conducted with 9,000 fashion consumers. The consumers were asked to rank retailers in specific fashion sectors and how well those companies performed across five pillars: Access, Experience, Price, Product, and Service.

Among athletic footwear retailers, surveyed respondents ranked Nike “the clear leader” 2.5 times more than other brands on the list. Adidas ranked second overall with Nike and Adidas resonating “High” with 60 percent of Gen Z and Millennials (those under 40 years old) who chose the brands as the top two on the list.

AlixPartners wrote, “Adidas’ recent Samba (indoor soccer shoes) resurgence and its collaborations with luxury brands like Gucci have elevated Adidas to a major player in fashion and streetwear.”

New Balance ranked No.3 with Gen Z and Millenials. However, New Balance, Hoka and On overall were found to be “Actively Competing” for market share with Nike and Adidas.

AlixPartners said about the recent outperformance by New Balance, Hoka and On, “Faster innovation and development cycles, connection with a new, younger consumers, and retail expansion as a tool for customer acquisition have helped these brands grow quickly, but the volume overall isn’t there … at least not yet. These are the brands to watch as they continue to cut more deeply into the market share of legacy players.”

The Top 10 Favorite Athletic Footwear Retailers by demographic were found to be the following:

  • Gen Z: Nike, 36 percent; Adidas, 21 percent; Foot Locker, 12 percent; New Balance, 8 percent; Finish Line, 5 percent; Skechers, 5 percent; Puma, 4 percent; Allbirds, 4 percent; Asics, 2 percent; On, 2 percent.
  • Millennial: Nike, 44 percent; Adidas, 13 percent; New Balance, 9 percent; Foot Locker, 9 percent; Skechers, 6 percent; Puma, 4 percent; Reebok, 4 percent; Asics, 4 percent; Finish Line, 4 percent; On, 2 percent.
  • Gen X: Nike, 36 percent; Foot Locker, 15 percent; New Balance, 13 percent; Adidas, 10 percent; Skechers, 8 percent; Finish Line, 6 percent; Hoka, 4 percent; Asics, 4 percent; Puma, 2 percent; Reebok, 2 percent.
  • Boomer: Nike, 28 percent; Foot Locker, 18 percent; Skechers, 13 percent; New Balance, 12 percent; Adidas, 8 percent; Finish Line, 6 percent; Reebok, 3 percent; Puma, 2 percent; Asics, 3 percent; Puma, 2 percent.

Crocs Leads Fashion Footwear Preferences
Surveyed respondents ranked Crocs the “Highest” overall fashion footwear retailer across the surveys five pillars with Gen Z (25 percent) and Millennials (29 percent), followed closely by Vans.

AlixPartners noted that since Crocs’ runway debut at London’s Fashion Week in 2017, it has since used collaborations and customizations to penetrate the broader market, driving rapid growth.

Among Boomers, 36 percent of respondents favored DSW as their fashion footwear retailer, twice that of their second choice, Clarks.

DSW had the largest spread of sentiment among surveyed respondents, with only 8 percent of Gen Z choosing them for the top spot, but the retailer holds appeal for the price-conscience Boomer demographic.

The Top 10 Favorite Fashion Retailers by demographic were found to be the following:

  • Gen Z: Crocs, 25 percent; Vans, 18 percent; Clarks, 18 percent; Birkenstock, 9 percent; DSW, 8 percent; Steve Madden, 6 percent; Aldo, 6 percent; Dr. Martens, 4 percent; Journeys, 3 percent; Ugg, 3 percent.
  • Millennial: Crocs, 29 percent; Vans, 21 percent; Clarks, 16 percent; DSW, 9 percent; Birkenstock, 8 percent; Aldo, 6 percent; Steve Madden, 3 percent; Journeys, 3 percent; Ugg, 3 percent; Dr. Martens, 2 percent.
  • Gen X: Vans, 24 percent; DSW, 22 percent; Crocs, 15 percent; Clarks, 11 percent; Journeys, 7 percent; Ugg, 6 percent; Birkenstock, 5 percent; Steve Madden, 4 percent; Aldo, 3 percent; Dr. Martens, 3 percent.
  • Boomer: DSW, 36 percent; Clarks, 18 percent; Crocs, 13 percent. Birkenstock, 7 percent; Ugg, 6 percent; Dr. Martens, 6 percent; Vans, 5 percent; Aldo, 4 percent; Journeys, 3 percent; Steve Madden, 2 percent.

Other purchasing preferences noted in the report include the following:

  • 86 percent of surveyed respondents agreed that quality and price aligning are important when making purchasing decisions.
  • 83 percent of respondents said human connection and personalization are important when needed to purchase footwear, especially Gen X and Boomers.
  • Over three-quarters of respondents want stores that are easily accessible and well maintained, Gen X and Boomers even more so at almost 90 percent.

To read the study in its entirety, go here.

Images courtesy Nike

EXEC: Stifel BTS Survey Reflects Nike’s Fading Popularity at Store Level

EXEC: Piper Sandler Survey Finds Adidas, Hoka, On, New Balance and Ugg Gaining Teen’s Attention