U.S. footwear industry sales reached $10.5 billion in the third quarter, representing a 1 percent decline year-over-year, while Performance Footwear sales were flat for the quarter, driven by mid-single-digit sales growth in Running Footwear despite lower unit sales for the period.

Those observations were based on recent data from Circana.

“As we saw from the back-to-school shopping results, the need to prioritize continues to drive consumers’ purchasing behavior, as they are focused on their individual, immediate needs rather than the retail calendar,” said Beth Goldstein, footwear and accessories analyst, Circana.

“In the transitional Q3 period, we continued to see sneakers and seasonless, versatile fashion styles do best, but consumers began to dip a toe into cooler weather styles. As we gear up for the 2024 holiday season, there is certainly a bright side as consumers are feeling more optimistic than last year,” continued Goldstein. “More consumers intend to purchase footwear this year, according to Circana’s annual Holiday Purchase Intentions Study. In addition, more consumers plan to travel for the holidays this year, which will be a key selling point to leverage across many categories, including footwear.”

Within the fashion category, shoe silhouettes, including flats, ballerinas, and pumps, grew for the quarter, as did slippers, which performed especially well during the back-to-school months.

While boot sales were reportedly soft overall, Circana reported that high-shaft boots grew 30 percent, and winter/snow boot sales increased 10 percent compared to the third quarter of 2023.

Running Footwear sales maintained momentum, up 4 percent in the quarter. The growth of average selling price (ASP) was driven by mix shifts that offset unit declines. Also, within the Performance segment, sales of soccer and tennis shoes grew.

In the Athleisure space, running, soccer and training-inspired sneakers were the top growth segments across the total footwear market.

Holiday Snapshot
Consumer sentiment, as it relates to the holiday shopping season, has improved compared to the past two years, according to Circana’s annual Holiday Purchase Intentions Report. Holiday shoppers plan to spend an average of 2 percent more than in 2023 as Black Friday hits a four-year high in expectation of the best holiday deals.

Image courtesy Adidas