Fashion footwear sales almost back to pre-pandemic levels in the US
Research group NPD has reported that US shoe sales had a value of $10.8 billion in the third quarter of the year, flat compared to the same period in 2021.
Consumer price inflation in September was 8.2% but footwear prices increased by only 3.9%, the lowest rise in the last 18 months.
Sales of leisure footwear in September were flat in value at $5.2 billion, but athletic footwear fell by 6% in the same period to $2.1 billion. This decline was offset by a rise of 7% in the sales of fashion shoes to $3.5 billion. E-commerce purchases rose by 4%, whereas bricks-and-mortar sales remained flat.
Sales of fashion shoes have now returned to pre-pandemic levels and sneakers, as the most popular category, remain above 2019 levels despite the 6% slide in September.
For the rest of the year and the upcoming holiday period, sales are expected to be softer. As a result, big-box retailers are already planning discounts for Black Friday and beyond in order to reduce inventory that has built up.
