Athletic footwear-and-apparel giant Nike Inc. might be facing increased competition from Adidas and Under Armour, but the brand is maintaining its sticking power among several key demographics.
Each month since April, financial services firm Cowen and Co. has been surveying 2,500 U.S. consumers regarding their back-to-school footwear and apparel choices.
Specifically, Cowen and Co. asked respondents, “For this back-to-school season, how likely are you to shop for each of the following brands for clothing, footwear, and/or accessories?”
Cowen analyst John Kernan wrote Friday that through his observation, higher-income women favored Nike, while those whose income landed under $50,000 rated Skechers USA Inc. highly.
A large percentage of women in the $50,000-and-under income group — 57 percent — rated Nike as a must-have for b-t-s, but the percentage was even greater for higher earners. Approximately 62 percent of women who earned between $50,000 and $99,000 and 65 percent of those who earned $100,000-plus gave Nike a “very likely” and “definitely will shop for” rating this b-t-s season.
Overall, Nike led the athletic-brand sector, with 65 percent of total survey respondents indicating they would “very likely” or “definitely will shop for” the brand this year. That was followed closely by Adidas at 49 percent, Under Armour at 47 percent and Skechers at 46 percent.
VF Corp.’s Vans and North Face brands also scored favorably with 41 percent and 38 percent of respondents respectively indicating a preference for the brands this b-t-s season.
“Athletic brands in general showed more relevancy than fashion brands as the health and wellness trend continues, boosted by retro and streetwear trends,” Kernan wrote of the survey’s overall implications.