What’s Driving Retail’s Sneaker Obsession?
The story of Cinderella teaches many morals: wealth isn’t everything, kindness wins hearts and, most importantly, never underestimate the power of shoes. Though these days, it’s not heels that are winning consumers’ hearts — it’s sneakers. While the footwear market as a whole grew only 13% in 2017, sports footwear grew by an astonishing 46%, according to data from Euromonitor International. That covers performance, outdoor and sports-inspired footwear, and those categories are poised to continue growing in the years to come. Indeed, Michelle Grant, head of retail at Euromonitor International, pegs sports footwear at 20% growth over the next five years, compared to 10% growth for the category as a whole. Notably, performance footwear is experiencing the fastest growth in the sports footwear market — that is, the category where you’d find Nike’s Air Jordans, which have arguably become more of a fashion statement than a basketball shoe. Read more at Retail Dive.
