Great info from Investor’s Business Daily on the dominant trends in the $64 billion footwear industry.
The move toward casualizaton and “athleisure” dominates footwear
The NPD Group estimates that sport leisure and performance footwear make up 41% of the total U.S. market.
Matt Powell, NPD’s sports industry analyst, notes consumers are responding to “the great casualization” — the shift from suits and ties to jeans and t-shirts for office workers, especially in tech workplaces.
Read more below on how Nike, Instagram and teens are further driving this trend.
Knight’s Special Sauce
Nike has the No. 1 share in just about every athletic category and their Jordan brand controls 60% of the U.S. athletic market. They are also brilliant in tracking trends with data-mining technology.
Footwear is an integral part of Instagram culture. #Nike has over 43MM posts, #underarmour over 1MM.
Athleisure and Teen (un)Employment
Also helping springboard athleisure shoes into the future is the fact that younger generations have known little else. Teens are working less than ever before. If they’re at home or among friends, they’re gravitating toward the comfortable athleisure styles. Millennials have not had to buy a wear-to-work outfit.