How the Sneaker Industry Is Shaping Up In 2019?

Sneakers make one of the most popular shoe types among men and the industry has seen immense growth over the years. The multi-billion dollar industry is seeing a major shift towards online marketplace as the recent stats show that 25% of sneakers sales in the US came from different online retailers. With Sport Leisure shoes being the trendiest sneakers category, it produced $9.6 billion only in 2017 recording 17% increase from yesteryear.

Here we have some stats showing how the industry will be shaping up as we move forward in 2019.

Important Stats For Sneakers Industry

According to Forbes, here are some shoe industry stats that depict where it’s headed.

• The shoe industry gets $55 billion secondary market globally only from sneakers. Recently, 8% growth in sales was recorded for athletic footwear in the US with a sales volume of $17.2 bn.
• Only three major market players – with the likes of Adidas, Nike, and Under Armor – record in excess of $25bn sneaker sales every year. Since 2009, there has been a 49% increase in the revenues generated by these firms.
• The push-in sneakers sales is, primarily, driven by the millennials as this generation spent $21bn on footwear only in 2014 recording 6% increase from the previous year. 

The New Market Entrants

Even though the veterans like Adidas and Nike seem to have occupied the market, generating billions in sales every year, the new market entrants are still not shying away from taking their cut in the sneakers industry.

Everlane, the popular retailer known for sustainable apparel, has recently announced a new sneaker label with an even more challenging mission to create the lowest-impact sneakers of the world.

Tred by Everlane has already debuted the online marketplace this last April introducing its timeless unisex trainers which they claim to be entirely carbon neutral. The brand vows to get rid of all the virgin plastic from its supply chain earliest by 2021.

So, the sneakers industry seems to be rapidly growing and despite all the competition, new entrants are ready to take the challenge.