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Men's and Women's Footwear - US - September 2016

Men's and Women's Footwear - US - September 2016

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OVERVIEW
What you need to know
Definition
EXECUTIVE SUMMARY
Slow but positive growth posted in highly competitive landscape
Figure 1: Total US sales and fan chart forecast of men’s and women’s footwear, at current prices, 2011-21
The issues
Figure 2: Footwear purchased, by gender and age, July 2016
Figure 3: Attitudes toward footwear, by gender, July 2016
The opportunities
Figure 4: Reasons for purchasing footwear, by males and females 18-34, July 2016
Figure 5: Reasons for purchasing athletic footwear, by males and females 18-34, July 2016
Figure 6: Footwear purchased, by Hispanic origin, July 2016
What it means
THE MARKET
What you need to know
Positive growth of 2011-16 projected to extend through 2021
Women’s footwear segment largest, but men’s segment faster growing
Macro-economic and demographic factors shape market growth
Market size and forecast
Slow but positive growth posted in highly competitive landscape
Demographic, tech, and fitness trends to shape growth through 2021
Figure 7: Total US sales and fan chart forecast of men’s and women’s footwear market, at current prices, 2011-21
Figure 8: Total US sales and forecast of footwear for men and women, at current prices, 2011-21
Market breakdown
Women’s footwear comprises over 60% of the total market
Figure 9: Market share of footwear market, by segment, 2016
Men’s footwear segment, though smaller, has been faster growing
Figure 10: US sales of footwear market, by segment, at current prices, 2014 and 2016
Market factors
Improving economic outlook lifts consumer confidence and spending
Figure 11: Index of consumer sentiment, January 2010-April 2016
Growth among 25-44-year-olds and women 55+ to help drive market
Figure 12: Male population by age, 2011-16
Figure 13: Female population by age, 2011-21
Hispanics comprise vibrant, youthful, family-focused footwear buyers
Figure 14: Population by race and Hispanic origin, 2011-21
Footwear retail landscape redefined by online, omnichannel shopping
Figure 15: Retailers shopped for footwear – In-store and online, July 2016
KEY PLAYERS
What you need to know
Market includes 10 leading suppliers, many smaller ones
Top athletic brands thrive with robust campaigns, inventive products
Culture, music, and fashion icons help engage young adults
Challenges in competing with D2C and omnichannel retailers
Staying on-trend a challenge as sneakers become go-to casualwear
Overview of major footwear suppliers
Diverse market embraces 10 leading suppliers, many smaller ones
Figure 16: Global footwear sales of major suppliers, active in the US market, 2014 and 2015
Nike’s growth propelled by Jordan brand, women’s line, and D2C sales
adidas gains steam in 2015, with growth extending into 2016
Wolverine sees sales slide as lifestyle division struggles
Caleres posts modest growth, keeps Famous Footwear profitable
Skechers builds share as its comfortable casual shoes perform well
Vans sees solid growth with classic styles, 50th anniversary collections
Deckers core brands and DTC sales propel strong performance
Steve Madden rebounds from weak 2014 with solid growth in 2015
Despite online sales growth, Crocs’ sales tumble
Under Armour increases footwear sales over 50%
What’s working?
Reaching young adults via music, fashion, and popular culture
Figure 17: adidas “Supercolor” ad, March 2015
Figure 18: Skechers “NO” ad with Meghan Trainor, March 2016
Major athletic brands boast high-profile sponsorships and partnerships
Classics, sneaker fusion with high fashion and new technologies
What’s struggling?
Crocs’ struggles exemplify challenges of off-trend footwear
Some specialty footwear stores struggle in changing landscape
Deckers’ and Caleres’ omnichannel strategies offers potential tools, approaches
Birkenstock struggles with knock-offs in the online market place
What’s next?
Smart shoes with “laceless” systems that set optimal support
Wearable technology, mobile apps, and smart shoes
3-D printing offers next step toward customization
Figure 19: UnderArmour “3D Printing” ad, April 2016
Modular shoes with customizable components
THE CONSUMER
What you need to know
Age, affluence, parental status and Hispanic origin impact engagement
Replacement is key, but many secondary factors can also drive purchase
Males 18-34 stand out as engaged, highly motivated athletic shoe buyers
Online retailers are gaining ground on in-store retailers
Comfort is a top priority, especially for older footwear consumers
Young consumers often use social media, seek online discounts
Type of footwear purchased
Purchasing level of women’s shoes outstrips that of men’s shoes
Figure 20: Type of footwear purchased, July 2016
A greater number and range of women’s footwear purchased
Figure 21: Type of footwear purchased – Women’s, July 2016
Figure 22: Type of footwear purchased – Men’s, July 2016
Women and 18-34-year-olds are most avid consumers
Figure 23: Type of women’s footwear purchased, by gender, July 2016
Figure 24: Type of women’s footwear purchased, by female and age, July 2016
Figure 25: Type of women’s footwear purchased, by male and age, July 2016
Figure 26: Type of men’s footwear purchased, by gender, July 2016
Figure 27: Type of men’s footwear purchased, by male and age, July 2016
Figure 28: Type of men’s footwear purchased, by female and age, July 2016
Household income, especially up to the $50K level, drives purchase
Figure 29: Type of women’s footwear purchased, by household income, July 2016
Parents purchase far more footwear than non-parents
Figure 30: Type of women’s footwear purchased, by parental status, July 2016
Figure 31: Type of men’s footwear purchased, by parental status, July 2016
Hispanics comprise dynamic, engaged consumer base
Figure 32: Type of women’s footwear purchased, by Hispanic origin, July 2016
Figure 33: Type of men’s footwear purchased, by Hispanic origin, July 2016
Replacement drives many purchases, but secondary reasons abound
Figure 34: Reasons for purchasing footwear, July 2016
18-34-year-olds more likely to have diverse reasons for purchase
Figure 35: Reasons for purchasing footwear, by gender and age, July 2016
More affluent buyers driven by a greater number, range of motives
Figure 36: Reasons for purchasing footwear, by household income, July 2016
A wide range of motives propel parents to buy shoes
Figure 37: Reasons for purchasing footwear, by parental status, July 2016
Blacks and Hispanics less likely to be driven by replacement alone
Figure 38: Reasons for purchasing footwear, by race and Hispanic origin, July 2016
Reasons for purchasing athletic footwear
Replacement is major reason, trailed by everyday use, fashion, sports
Figure 39: Reasons for purchasing athletic footwear, July 2016
Males 18-34 seek sneakers for fashion and sports, value endorsements
Figure 40: Reasons for purchasing athletic footwear, by gender and age, July 2016
Hispanics more likely to have started exercising, want latest model
Figure 41: Reasons for purchasing athletic footwear, by Hispanic origin, July 2016
Retailers shopped for footwear
Consumers increasingly use a mix of in-store and online retailers
Figure 42: Retailers shopped for footwear – In-store and online, July 2016
Department stores remain most widely used in-store retailer
Figure 43: Retailers shopped for footwear – In-store July 2016
Amazon and department store websites are top online sources for shoes
Figure 44: Retailers shopped for footwear – Online, July 2016
Age and gender shape the number and type of in-store retailers used
Figure 45: Retailers shopped for footwear – In-store, by gender and age, July 2016
18-34-year-old males stand out as avid online shoppers
Figure 46: Retailers shopped for footwear – Online, by male and age, July 2016
Online footwear retailers such as Zappos draw affluent consumers
Figure 47: Retailers shopped for footwear – In-store, by household income, July 2016
Figure 48: Retailers shopped for footwear – Online, by household income, July 2016
Parents are key shoppers, using wide range of retailers
Figure 49: Retailers shopped for footwear – Online, by parental status, July 2016
Hispanics use gamut of retailers, especially online
Figure 50: Retailers shopped for footwear – Online, by race and Hispanic origin, July 2016
Attitudes toward footwear
Comfort is king with sales, trusted styles, and fashion also in play
Figure 51: Attitudes toward footwear, July 2016
Women aged 35+ seek out sales, Men 18-34 most willing to pay full price
Figure 52: Attitudes toward footwear, by gender and age, July 2016
Attitudes of affluent buyers underpin their higher purchasing
Figure 53: Attitudes toward footwear, by household income, July 2016
Hispanics more likely to value latest trends, enjoy shoe shopping
Figure 54: Attitudes toward footwear, by race/Hispanic origin, July 2016
Online shopping behaviors
Online shopping comfort growing; only slim minority uses social media
Figure 55: Online shopping behaviors, July 2016
Age is key factor governing online shopping, social media usage
Figure 56: Select online shopping behaviors, by gender and age, July 2016
Parents engaged in online shopping and turn to social media
Figure 57: Select online shopping behaviors, by parental status and gender, July 2016
Hispanics more likely than non-Hispanics to get ideas via social media
Figure 58: Select online shopping behaviors, by race and Hispanic origin, July 2016
APPENDIX
Data sources and abbreviations
Data sources
Abbreviations and terms
Market
Figure 59: Total US sales and forecast of footwear for men and women, at inflation-adjusted prices, 2011-21
Figure 60: Total US sales and forecast women’s footwear, at current prices, 2011-21
Figure 61: Total US sales and forecast of women’ footwear, at inflation-adjusted prices, 2011-21
Figure 62: Total US sales and forecast men’s footwear, at current prices, 2011-21
Figure 63: Total US sales and forecast of men’s footwear, at inflation-adjusted prices, 2011-21
RESEARCH METHODOLOGY
US Research Methodology
Consumer research
The Mintel fan chart

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