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Footwear Sales in the U.S. Expected to Stabilize and Bounce Back Slightly for 2021, According to NPD


PORT WASHINGTON, N.Y., Oct. 29, 2020 /PRNewswire-PRWeb/ -- Lifestyle changes and consumer behavior shifts in 2020 due to the public health crisis have driven year-over-year sales declines for the U.S footwear industry, but trends are expected to stabilize and recover through 2021, according to The NPD Group's Future of Footwear report. Improved fashion footwear and performance sales are forecasted to lead increased dollar sales for the overall industry, though sales will remain below 2019 levels.

The fashion category, which has been the hardest hit by the pandemic, is expected to see renewed sales during the coming year as consumers begin to return to some of their pre-COVID behaviors. The women's slippers category?one of the few bright spots in fashion footwear this year?is likely to be a hot holiday item and will remain strong in 2021 ? even outperforming 2020 sales.

"A return to the office and store re-openings will likely reignite some demand for fashion footwear, although the focus will remain on casual and comfort-oriented styles. The pandemic has only amplified the importance of these attributes, as the blending of work-from-home and remote learning has led consumers to favor comfort to wear any time of the day," said Beth Goldstein, NPD's fashion footwear and accessories analyst.

Following a similar trajectory and after declines during the last two years, performance footwear is expected to see growth in 2021 ? a lift that will be driven by road running shoes.

"Greater attention to health and fitness has been a silver lining in 2020. A number of sports and recreation-related categories have benefitted from this, including performance running. In addition to easier year-over-year comparisons, which may factor into the growth, running shoes are poised to outperform the overall market as consumers continue turning to the activity to stay active yet socially distant," said Matt Powell, NPD's sports industry advisor. "With new participants, brands and retailers should focus on their assortment of more mainstream product and educating new runners on the importance of having this activity-based shoe in their line-up."

What's In Store for Q4
Footwear sales are expected to decline in the mid-single digits during Q4 2020, but this is a significant improvement from year-to-date trends. Alluding to an anticipated rise in outdoor activities this fall/winter, cold weather boots and hiking shoes began selling notably well in August, with sales up +49% and +24%, respectively, in August and September 2020 combined compared to last year, according to NPD's Retail Tracking Service.

For more on NPD's footwear sales expectations and trends for Q4 and the holiday season, read the latest from Matt Powell, Sneakernomics: Sports Retail Holiday 2020 Expectations, and Beth Goldstein, Changes in Lifestyle Drive Shifts in Holiday Purchasing for Footwear & Accessories.

***

About The NPD Group, Inc.
NPD offers data, industry expertise, and prescriptive analytics to help our clients grow their businesses in a changing world. Over 2,000 companies worldwide rely on us to help them measure, predict, and improve performance across all channels, including brick-and-mortar, e-commerce, and B2B. We have services in 19 countries worldwide, with operations spanning the Americas, Europe, and APAC. Practice areas include apparel, appliances, automotive, beauty, books, B2B technology, consumer technology, e-commerce, fashion accessories, food consumption, foodservice, footwear, home, juvenile products, media entertainment, mobile, office supplies, retail, sports, toys, and video games. For more information, visit npd.com. Follow us on Twitter: @npdgroup.

 

SOURCE The NPD Group


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News published on 29 october 2020 at 15:40 and distributed by: