Yahoo Finanzas Consumers Set to Spend More on Athletic Shoes in Months Ahead, But Overall Industry Sales Will Be Sluggish, New Survey Says
Consumers are expected to shop more for athletic shoes than any other footwear category this spring and summer, according to a new survey from AlixPartners in partnership with Footwear Distributors & Retailers of America (FDRA).
The report, dubbed the 2024 Spring U.S. Footwear Consumer Survey, polled over 1,000 people, aged 15 and up, and assessed purchasing decisions of consumers this spring into summer. The survey found that shoppers are expected to spend 2 percent more on athletic shoes this season over the same time last year, with 51 percent expected to spend over $100 in the segment.
More from Footwear News
Shoe Prices Rise Slightly in January, Driven by Increase in Women's Category
Shoe Prices Rise Slightly in November as Men's and Women's Categories Show Increases
The survey also showed that brand preference stands out in the growing athletic segment, with 61 percent of respondents planning to shop for athletic shoes this spring and summer in branded online stores and 57 percent in branded brick-and-mortar, against 49 percent and 40 percent for nonathletic shoes in the same respective venues.
Spending in other footwear categories is expected to decline, however. According to the survey, purchases of work shoes and boots are expected to decline 21 percent in the period, while fashion and dress shoes are set to decline 19 percent this season. What’s more, consumers are expected to shop 6 percent less on casual shoes and 9 percent less on athleisure and multi-activity footwear this spring and summer, the survey found.
Of note, the survey showed purchases are most consistently built around promotional moments when consumers can get their preferred brand at lower prices due to inflation and economic pressures taking a toll. While consumers report buying shoes more frequently, they want them at a lower price-point; 42 percent of respondents are more likely this year to search for coupons or wait for a sale over last year.
“We expect flat growth in the footwear segment overall heading into spring and summer 2024,” Bryan Eshelman, partner and managing director at AlixPartners, said in a statement. “It’s clear from the footwear consumer—specifically in the athletic/athleisure segment—that brands matter more than ever. The challenge for companies in those categories is scaling their direct-to-consumer operations profitably.”
Matt Priest, president and chief executive officer of FDRA, added the report offers a “crucial real-time consumer snapshot” that shows inflation continues to impact behavior.
“I speak daily with shoe executives who are working to transform their merchandising strategies to address rapidly changing consumer demand,” Priest said. “We are seeing tighter margins across the industry than we have in some time — this is my main concern for our members coming out of this report.”
The survey also explores how retailers are missing opportunities to convert demand for brands, how artificial intelligence can help companies optimize inventory levels, how packaging can be a wasted cost and more.
To read the full survey, click here.
Best of Footwear News
Sign up for FN's Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.
