The U.S. athletic footwear industry estimated growth at 8 percent in 2015*, generating $17.2 billion and marking one of the best performances the industry has had in a number of years.
U.S athletic footwear Market was valued at $17.2 Billion in 2015 and is estimated to grow at a CAGR of over 8 % from 2016 to 2024.
Unit sales grew by 3 percent and average selling price by 5 percent, to $61.15. As per our analyst, there was tremendous volatility at the category level, but the overall strength of the industry was clearly evident in 2015.
Performance footwear, particularly running and basketball, cooled off in 2015 and we saw a rise in the more casual and retro styles. This will be an important trend to watch in 2016. The hiking shoe category has also been, and should remain, strong as we continue to see the merging of outdoor and athletic.
High growth in 2015 came from the $3.5 billion Classics category, which grew by 30 percent in 2015 and is capturing share from other major categories. This growth was driven by retro basketball and retro running shoes. The Classics trend is evident among all consumers, as the category showed substantial sales increases among men (+26 percent), women (+69 percent), and children (+29 percent) alike.
North America Major Athletic Footwear Categories, Annual 2014 vs. Annual 2015 (USD Million)
Holiday 2015 Performance:
Athletic footwear sales peak in December 2015 holiday season, one of the best in terms of sales growth for athletic footwear. Value wise grew by 13% while unit sales by 10%. Average selling price by 3 % compared to December 2014. Classics seems to have strongest growth (63% rise in $ sales)
Top Athletic Footwear Brands:
- Men- Nike, Adidas, New Balance
- Women- Nike, Skechers, Asics
- Children- Nike, Adidas, Converse
“Optimal Price Point (OPP) for Athletic Footwear”
Estimated Average solution cost – $ xx globally. However, with growth in demand for classics, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.
Social fitness is the buzzword. This athleisure trend has helped the acceleration of growth in demand for sports business as class-based fitness activities and other shared experiences will dominate the industry. Brands and retailers must integrate this trend into their plans. It will be necessary for them to capitalize on social fitness in order to grow in the months ahead.