Footwear was one of the top categories adults cut back on due to inflation with about a quarter indicating they reduced spending on both athletic and seasonal shoes, per a May First Insight survey. Similarly, Bizrate Insights found 7.3% of US consumers switched from purchasing brand name footwear to a private label brand.
Plagued with supply chain issues and climbing operating costs, the first half 2022 has put footwear on its heels.
Let’s take stock of where the category is now and where it may be headed:
- Footwear was one of the top categories adults cut back on due to inflation with about a quarter indicating they reduced spending on both athletic and seasonal shoes, per a May First Insight survey. Similarly, Bizrate Insights found 7.3% of US consumers switched from purchasing brand name footwear to a private label brand.
- However, an increased focus on health and wellness has lifted sales of active footwear, per NPD Group. Sales of running and hiking shoes grew 20% in the first third of 2022 versus three years ago, while sales of walking shoes grew 30% in the same time frame.
at Insider Intelligence.
