Issue link: https://viewer.e-digitaledition.com/i/1508745
T he trend line for footwear sales in the U.S. appears to have less peaks and valleys this year, but the industry is experiencing so demand, according to Retail Tracking Service data from Circana (formerly IRI and e NPD Group). Footwear sales revenue declined by 3% from January through August 2023, versus last year, and units sold also decreased, the data shows. Based on Circana's Retail Tracking Service data, the following footwear segments are growing based on both dollar sales and units sold, indicating heightened demand in a challenged environment: Adult road running shoes grew 6% based on dollar sales from January through August 2023, versus last year. e running segment is benefiting from the higher price points of hot brands that encompass both perfor- mance and fashion elements. Influenced by the popularity of these sports, dollar sales grew for basketball shoes, up 13%, tennis shoes, increasing 42%, and soccer footwear, rising 16%. ese sports are also having an impact on fashion, with sales up double digits for basketball, tennis, and soccer-inspired sneakers, which have a performance-based heritage but intended for everyday wear. On the fashion side, drivers and loafers are casual yet more tailored options that are growing in both the men's and women's segments of the market. is year, dollar sales grew by 19% through August. Ballet flats are also trending, with year over year sales up 14%. For the holiday season, footwear sales are forecasted to decline overall in the fourth quarter, compared to 2022, according to Circana's latest Future of Footwear find- ings. In 2024, both dollar and unit sales are forecasted to flatten as average prices will also level off. "Success will be measured by market share gains," notes Beth Goldstein, footwear and accessories industry analyst at Circana. "Brands and retailers will need to be innovative with their product offerings, distribution, and marketing strategies." n Styles Selling in a Soft Market SALES TRENDS footwearinsight.com September/October 2023 ~ Footwear Insight • 9 1. 100% Sustainable Upper Materials 2. Antiviral Sole 3. Hybrid-Air Insole (Recycled & Removable) 4. Techno Elastic Upper 5. Twin Arch Support System 5 Pillars of Technology Available now at Simco Imported Shoes weloveshoes@simcoimportedshoes.com www.simcofootwear.com 1-800-536-5938 ARCOPEDICO 9-23-01.indd 1 ARCOPEDICO 9-23-01.indd 1 9/12/23 11:16 AM 9/12/23 11:16 AM