Versatile, seasonless footwear such as sneakers, loafers and ballet flats. These are the shoes most chosen by U.S. consumers according to an analysis by Circana, the research company formed by the merger of IRI and The NPD Group. According to data from Circana's retail tracking service, among the trending footwear this year are adult road running shoes (up 6 percent in dollar sales between January and August). The segment is benefiting from consistent pricing from popular brands that can combine performance and style.
Influenced by the popularity of the related sports, dollar sales have also grown for basketball (+13%), tennis (+42%), and soccer (+16%) shoes, sports that are also influencing fashion: double-digit sales are reported for basketball-, tennis-, and soccer-inspired sneakers that were born to offer certain performance and are increasingly being declined for everyday use as well. From a fashion perspective, loafers and loafers are the fastest-growing models in both the men's and women's segments of the market, with 19 percent growth in the first 8 months of the year. Ballet flats are also trending, with sales up 14% over 2022.
Trends that fit into a context in which footwear sales are not taking off. According to Circana's report, from January to August 2023, industry sales revenues are down 3 percent on 2022, as are fewer units sold. Same trend for the fourth quarter as well. Among the packages under the tree, therefore, few will contain a pair of shoes. And if shoes they will be, they will be versatile and seasonless models. It does not look like the right year, in short, to expect to receive a pair of Manolo Blahniks as a gift.
Looking ahead to 2024, both dollar and unit sales are expected to flatten as a result of price stabilization. "Success will be measured by increased market share," comments Beth Goldstein, footwear and accessories analyst at Circana, "brands and retailers will need to be innovative with their product offerings, distribution and marketing strategies.
