The U.S. footwear market had its best week of the season during the Thanksgiving week ended November 25, with dollar sales down just 1 percent versus last year, buoyed by strong sales results for performance footwear, according to Circana’s point-of-sale data.
Footwear units sold reportedly declined 4 percent in the week ending November 25, but dollar sales declined at a softer rate of 1 percent due to a 4 percent increase in average selling prices (ASPs).
“Footwear’s improved results were driven by performance footwear,” said Beth Goldstein, footwear and accessories industry analyst at Circana. “The growth in the performance category was likely led by running and related to the point about versatility that I explained in my recent blog post, as well as the hot brands like Hoka and On playing in this category.”
The Thanksgiving week results by category are as follows:
- Fashion footwear: dollar and unit sales declined by 7 percent, and ASP was flat, which Goldstein attributed to increased promotional activity.
- Leisure footwear, including casual sneakers: dollar sales grew 2 percent, units were down 3 percent and ASP was up 5 percent.
- Performance shoes: dollar sales increased by 10 percent, units were up 4 percent and ASP grew by 5 percent.
Photo courtesy On
