U.S. footwear industry sales revenue was down 5 percent in the second quarter to $10.3 billion, versus Q2 2022, according to Circana, formerly IRI and The NPD Group. Gains in performance footwear partially offset declines in leisure and fashion categories.
Performance footwear increased 5 percent to $1.9 billion, according to Circana’s monthly point-of-sale footwear data. Leisure footwear sales were down 8 percent to $4.5 billion, while fashion footwear sales declined 6 percent to $3.9 billion. Highlights of the second quarter include:
Performance
Performance footwear was the fastest-growing segment and the only footwear category to grow in dollars and unit sales during Q2, driven by men’s and kids.
Team sports-related footwear, including soccer, basketball and American football, continued to grow, but running footwear drove 40 percent of the growth for the category.
Athletic
Casual sneaker sales continued to slow; however, athletic-inspired footwear, particularly tennis and basketball-inspired sneakers, grew by 18 percent and 5 percent, respectively.
Fashion
Although below pre-pandemic 2019 levels, dollar sales for ballerina flats grew 15 percent for the quarter. Dollar sales for pumps grew by 9 percent, and drivers and loafers increased by 18 percent. Coinciding with wet and cooler weather, fashion sandal sales were soft during springtime, down -9 percent in Q2 versus in 2022.
“The footwear industry experienced consistent results throughout the second quarter, with similar trends across genders and most areas of the market,” said Beth Goldstein, footwear industry analyst at Circana. “Average prices continued to rise; however, this is no longer enough to drive positive dollar growth for the industry. Consumers will continue to prioritize their must-haves over their nice-to-haves in the second half of the year, so brands and retailers will have to work hard to prove value, with compelling products and messaging.”
Photo courtesy Mansur Gavriel
