U.S. retail footwear sales declined in the second quarter, but fashion footwear sales outperformed other categories in terms of growth.
U.S. footwear sales were $10.7 billion in the second quarter, down 4 percent from 2021, excluding DTC sales, according to NPD Group Retail Tracker. The decline came as general consumer prices surged to their highest levels in more than 40 years and footwear prices rose at their fastest pace in decades. The FDRA found that footwear prices rose 5.8% in June compared with last year, marking the 15th consecutive month of above-trend growth in footwear prices, which typically rise 0.7% year-over-year.
By category, casual footwear sales fell 11% to $4.8 billion and performance footwear sales fell 7% to $1.8 billion. On the other hand, sales of fashion shoes rose 8% to $4.2 billion as consumers spent more on occasion-based footwear.
“Footwear demand remained weak in the second quarter compared to last year, and slower average price increases adversely affected sales revenue in the quarter,” said Beth Goldstein, NPD Fashion Footwear and Accessories Analyst. “Average price growth slowed down. Possibly due to increased promotions and a shift in the product mix from casual sneakers to fashion footwear as consumers update their wardrobes for social occasions.”
In the second quarter, fashion shoes, sandals and walking shoes saw the biggest revenue growth among all other categories.
The NPD found in July that between January and May 2022, high heels outpaced low heels in market share due to the return of events and occasions. For men, mixed sneaker soles and more formal styles accounted for about one-third of oxfords, drivers and loafers sales between January and May, up more than NPD Retail Tracking data found. less than 20% in 2019.
The tracked data is consistent with the retailer’s claims. Executives from Macy’s, Nordstrom and Caleres observed in the first quarter a shift to formal and casual footwear and apparel as more people socialize and work in person.
Sneakers typically make up about 80 percent of kids’ shoe sales during the back-to-school season, and that’s likely to happen again this year, NPD found.
“We can expect sneakers to dominate sales again this year, but clogs are still popular, as are slippers — now worn at home and at school,” Goldstein said.
