Shoe Industry Statistics, Trends & Analysis
The global shoe (footwear) industry is a multi-billion-dollar market where the United States contributes a significant amount of the revenues each year. Out of a $180 billion global market, Americans contribute over 50% to shoe producers, retailers, and distributors every year. Footwear, in its purest form, is a necessity for the average consumer. These products offer support and protection for the feet against the various surfaces that we all walk on each day. Although families in the past might have survived on 1-2 pairs of shoes, most people today have a collection of various shoes with different sizes, shapes, and styles that help them to meet their various needs.
Essential Shoe Industry Statistics
1. Athletic footwear saw the largest revenue gains for the shoe industry in 2019, achieving a 95 increase over the year before. Textiles and other footwear saw a 4.6% increase, while leather shoes saw a 2.9% decrease in total revenues.
2. Revenues in the Chinese footwear market totaled $58.3 billion in 2018. Despite the United States leading the way in total sales, the Asian share of the global shoe industry is 54%.
3. The market value of the luxury footwear market in Europe is valued at nearly $18 billion.
4. Nike continues to lead the world in total footwear revenue, earning $22.3 billion in 2018. Adidas saw revenues reach $12.8 billion for the year. The company held a 17.9% share of the footwear market in the United States in 2016.
5. 96% of the shoes that are available on the secondary market, which means a consumer purchased the item from the manufacturer and is now reselling it themselves, are believed to come from Nike.
6. The secondary market for sneakers and shoes is believed to be worth at least $1 billion in the United States. Manufacturers encourage this activity by producing shoes in limited numbers when there are high demand levels for the product.
7. The three top producers of sneakers in the world today are Nike, Adidas, and Under Armour. These three companies have seen their revenues increase by more than 49% in the past 10 years.
8. Customers say that their need to have a new pair of shoes is the primary reason why they shop for footwear. 37% of total sales occur because consumers need to replace their current shoes for some reason.
9. 30% of customers in the shoe industry say that the cost of their footwear is another significant portion of their shopping decisions and habits.
10. When customers want to purchase basketball shoes, they turn to Nike. The Jordan brand represents about 90% of the sales that occur in the segment each year.
11. Nike dominates search engine research queries from customers who are looking for new shoes online. About 1 in every 10 Google searches are for a shoe made by this brand. Adidas as a brand receives about the same number of unique searches (5.88%) as the Air Jordan's do for Nike.
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ReplyDeleteWhat the future holds for the footwear industry?
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