U.S. footwear sales fall in first quarter

U.S. footwear sales fall in first quarter

Recently, the NPD Group released the U.S. footwear data for the first quarter of 2022, showing a decline in sales revenue, down 3% compared to the same period last year. However, compared to the first quarter of 2019 before the epidemic, sales revenue in this quarter increased by 3%.

 

 

Under the epidemic, the economic downturn has forced consumers to cut spending, and residents' footwear spending has also decreased accordingly.

 

In addition, inflation has also led to weak sales in the footwear manufacturing industry this year.

 

It is worth noting that the slower sales growth of some top footwear brands compared with last year was the main reason for the decline in footwear sales in the first quarter.

 

By category, except for the growth in revenue of fashion shoes, the revenue of performance shoes and outdoor shoes both showed a downward trend.

 

Among fashion footwear (including casual shoes and slippers), the only category to achieve unit sales growth was sandals, with sales of sandal brand Crocs increasing by 9% and Steve Madden increasing by 57%. However, sales of casual shoe brand Skechers decreased by 14%. In addition, Clarks, Birkenstock and UGG showed a clear downward trend.

 

Performance footwear outperformed the overall footwear market in the first quarter, and while overall revenue increased slightly, average prices fell slightly, slowing growth compared to 2021.

 

Running shoes, which account for the largest share of performance footwear sales, saw a slight decline in revenue compared to the first quarter of 2021, while football shoes and training shoes both achieved solid growth in the quarter.

 

Revenue from outdoor footwear declined slightly, with revenue from hiking, trekking and mountaineering shoes falling by single digits, while revenue from boots, including hunting and fishing boots, fell significantly. Revenue from first-tier outdoor footwear brands such as UGG and Columbia declined, but revenue from work shoes, occupational shoes and safety shoes in private-label outdoor footwear increased by 10%.

 

With the relaxation of epidemic policies in the United States, everyone will return to their pre-epidemic lifestyle in the second quarter of 2022, such as going to work in the company, attending parties, etc. These activities will help boost sales of fashion shoes, while outdoor activities and fitness training will help improve performance and sales of outdoor shoes.

 

However, it is worth noting that in the second quarter, inflation and downward economic pressure may still suppress consumers' shopping desire.


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