Fashion brands are on the rise.
After two years of sports boom, second-hand clothes and shoes are coming back in a big way, as people return to live events, meetings and offices. Over the past quarter, retailers have also noticed the change, with many citing the success of fashion brands in their assortment.
“Customers continue to shop for occasions and go back to the office and update their closets,” Nordstrom president and chief brand officer Pete Nordstrom said on a call with analysts on Tuesday. “We continue to see softness compared to last year in categories previously accelerated by the pandemic, including home and asset.”
Men’s and women’s apparel, footwear and designers were Nordstrom’s main growth drivers in the third quarter as more people traveled to in-person events and offices for work.
Industry-wide, third-quarter fashion shoe sales rose 7% to $3.5 billion, according to quarterly data from the NPD Group’s retail sales tracking service, which excludes DTC sales. By comparison, sales of leisure footwear were flat in the third quarter at $5.2 billion and performance footwear fell 6% to $2.1 billion.
As consumers spend more on sandals and second-hand shoes, fashion footwear continues to be the fastest growing segment of the footwear market this year in terms of sales, returning to pre-war levels. pandemic in 2019, found NPD. Despite the decline in athletic shoe sales, sneakers still account for the largest share of the footwear market.
Macy’s CEO Jeff Gennette also noted a slowdown in sports products in the third quarter.
“Customers continue to return to in-person shopping experiences post-pandemic, and we are looking at occasion-based products, including a career in bespoke sportswear, dresses and luggage rather than pandemic categories. popular sportswear such as active, casual, sleepwear and flexwear. home, which leans more towards digital purchases,” Gennette said in a call with analysts.
Caleres said this week that athletic shoe sales fell in its Famous Footwear business in the third quarter, while non-athletic styles like loafers, flats and boots rose. This focus on used shoes has also benefited the company’s own brands, such as LifeStride, Scholl’s, Franco Sarto and Naturalizer, executives noted.
At Shoe Carnival, sales of non-athletic footwear increased 35.1% in the third quarter compared to 2019. Sales of athletic footwear increased 4.4% compared to 2019. The sales balance between footwear Sporting and non-sporting was evenly split during the quarter, with more consumers opting for fashion footwear brands. . The company expects this demand to continue through 2022.