NPD Group Presents Midyear Footwear Review At FN Platform

NPD Group Presents Midyear Footwear Review
Beth Goldstein from The NPD Group.
FN Archives

FN Platform kicked off today with a panel hosted by The NPD Group titled “Footwear Industry Mid-Year Review: How Consumer Preferences Are Driving the Trends in Our Industry.”

Here are some notable quotes and facts from the presentation given by Beth Goldstein, executive director and industry analyst for accessories and footwear.

• “One of the categories really jumping out is classic running and basketball. Consumers are responding to the ideas of retro and nostalgia.”

• “One of the biggest issues is the amount of retail space we have. Consumers occasionally like to go into stores, and retailers have to make the experience worth it.”

• “You can see that ankle boots are outpacing sandals in terms of growth. Ankle boots keep growing. The silhouette has become seasonless and has grown double-digits in 21 of the last 24 months.”

• “Playing in this space is about conveying the lifestyle. Most of that is aspirational. Seasonless comes into play, too. It’s a very relaxed and casual atmosphere.”

• “Only 35 percent of performance footwear pairs are bought for sport use.”

• “Online footwear sales have slowed, but still grew at 5 percent the rate of physical stores.”

• “Millennials [18-24] drove more than half of the growth, followed by Generation Z, which accounted for one-third.”

Key stats

• Dress and casual categories: Up 3 percent for 2015, down 2 percent for June 2016
• Leisure categories: Up 4 percent for 2015, up 8 percent for June 2016
• Performance category: Up 9 percent for 2015, up 7 percent for June 2016

• Top performing brands for women’s: Adidas, Nike, Vince Camuto, Alegria by PG Lite, Earth Shoe
• Top performing brands for men’s: Jordan brand, Adidas, Nike, Converse, Puma
• Top performing brands for kids’: Jordan brand, Adidas, Nike, Converse, Puma

• Top places that millennial shoppers are spending their dollars online: Amazon, then Nordstrom
• Top places that Gen X shoppers are spending their dollars online: Zappos, then Amazon

• Fashionable sport slides increased $5.7 million in incremental sales vs. 2015

Summary

• “Drivers of the growing categories are consumers’ preferences for a healthy lifestyle, comfort, convenience and fondness for heritage.”

• “Overall healthy, but dramatic shifts in consumer preferences and shopping behaviors have challenged traditional fashion categories and channels.”

• “As seasons become less distinct, transitional styles are becoming increasingly important. We no longer go from sandal to boot, and visa versa.”

• “Beyond just sneakers or athletic apparel — health and wellness has driven the need for [and acceptance of] casual comfort, extending into fashion footwear as well.”