Hey Sneakerheads! The longer I work at Sneakerjagers, the more interested I get in the actual numbers behind the madness that has taken over my life and probably many of yours as sneaker lovers and collectors. So I did some research to see what the science has to say about this ever-changing business. A great study by ForwardPMX looked at three different things: consumer trends, brand trends and also buying and selling trends. And I was able to find some really interesting things! For example, we girls are definitely getting more and more into the sneaker business as well.
Scroll down to read facts about all the cool sneaker trends I've come across!
The study by ForwardPMX tried to quantify the passion and measure the impact and influence of 'sneakers' on people's lives. For this, they created a 'Crave Index' that indicates the intensity and necessity of owning a pair of sneakers. Three different levels were thus identified:
- The Sneaker Buyer - Someone who has bought 2-4 pairs of sneakers in the last year.
- The Sneaker Fan - Someone who has bought 5 or more pairs of sneakers in the last year.
- The Sneaker-Head - The person who is in love with hyped sneakers like Jordans, Dunks, Yeezys etc. and is not afraid to camp out for them and stand in seemingly endless queues or sit in front of the computer for ages just to grab a pair of once-in-a-lifetime sneaker-exclusives.
Unfortunately, when I look at my wallet like this, I definitely know which category I belong to….
Consumer Trends - here's what the sneaker market looks like
Overall, ForwadPMX predicts that the size of the global athletic footwear market will reach $100 billion by 2025. Which, given the speed at which sneakers are sold every day, should come as no surprise!
Nostalgia and good vibes
87% of sneaker shoppers say they feel good about buying new sneakers. Nostalgia is also a buying factor: 57% of shoppers believe that buying new kicks reminds them of growing up, and this despite the fact that they also believe that sneakers are more popular overall today than in the past.
Furthermore, most sneaker buyers (80%) believe that sneakers are perceived more positively today than in the past.
Today, 60% of sneaker buyers recognise and believe in the cultural significance of sneakers. For example, 63% believe that sneakers reflect the world they live in today. 69% of sneaker fans also agree with this sentiment.
To match, check out these Union LA X Converse sneakers that pay homage to Haarlem.
It makes me very happy that the sales growth of women's sneakers far exceeds that of men. In 2016-2017, the women's sneaker market grew five times compared to the men's market. Monday 8 March was International Women's Day. A great stage for sneaker issues like this one.
It may come as no surprise that 82% of sneaker fans are not afraid to step out of line or be the first with unusual styles. What's more, 42% of sneaker shoppers dress to look good when they step out, even on social media. Do you love styling and fashion too? Then keep an eye out for our latest style and inspiration posts, such as the one I recently wrote for Spring Looks.
63% of male buyers and 69% of women say they would not like to wear the sneakers that many others have. A total of 71% of sneaker buyers want to demonstrate a unique style. This is most important to the female shoppers in the study, 90% want to have a unique style here. Go Girls!
Brand Trends - Some of the big brands in the spotlight
As with many products, the question is often: 'Do consumers drive brands or do brands drive consumers?' In the overview we see that Nike is still the strongest and most popular brand, followed by adidas. Beyond that, Converse and Reebok are very popular.
Vans is also no longer just a niche brand! The brand saw a strong increase of 80% in search interest compared to 2016, 2017 and 2018! Especially women like the skate brand. No wonder with chic styles like this one:
Fila was one of the fastest growing sneaker brands in recent years with a 170% growth in search volume. You can also check out our Fila sneaker range here.
Buying & Selling - these are the trends
The sneaker business is constantly changing with the latest trends and innovations from many influences. It is an ever-growing market that is getting more and more attention. We are also seeing an increase in resellers like StockX and GOAT, where Foot Locker for example, invested $100 million in GOAT in February 2019.
The bigger the fan, the more likely people are to buy sneakers directly from a brand's website. Also, the bigger the fan, the more likely one is to spend up to $300 per pair.
Interestingly, the intersections between sneakers and luxury brands have increased in recent years. Nike is on the same shelf as luxury brands in shops these days. Furthermore, collabs between sneaker and luxury brands are also on the rise - a particular example: Air Jordan x Dior.
With the immense presence of social media in today's society, the wearer has become the trend leader, not just the brands themselves. Wearers are the new influencers, both online and on the streets!
The study was published on 21 August 2019. Source: ForwardPMX.