NPD Reports Q3 Footwear Revenues Flat

In the third quarter of 2022, U.S. footwear industry sales revenue was flat at $10.8 billion, versus Q3 2021, according to global marketing group The NPD Group.

U.S. Footwear Category Sales Performance

Based on revenues, July-September 2022 versus 2021

Category Q3 2022 % Change vs. Q3 2021
Leisure $5.2 B 0%
Fashion $3.5 B 7%
Performance $2.1 B -6%

                                                                                         Source: The NPD Group / Retail Tracking Service, excluding direct-to-consumer (DTC) sales

While sneakers continued to capture the largest piece of the footwear business, fashion shoes and sandals were the top growth categories in Q3, based on sales-revenue gains. As the fastest-growing area of the footwear market this year, the fashion segment has recovered to pre-pandemic 2019 levels as people returned to in-person activities and events, replenishing their closets with both dressy and casual styles.

From a channel perspective, brick-and-mortar store sales were flat in Q3, compared to last year, while e-commerce sales continued to grow, rising 4 percent. Ecommerce outperformed in-store sales in every footwear category except for fashion, where the two channels performed equally.

“Social events are back on the calendar, prompting consumers to purchase dressier silhouettes to refresh and replenish their wardrobes – something they really haven’t had to do for two years,” said Beth Goldstein, fashion footwear and accessories analyst at NPD. “These needs should help drive sales through the holiday season, although footwear sales are projected to be slightly down in the fourth quarter, versus last year, according to the NPD Future of Footwear forecast.”

NPD sports industry advisor Matt Powell added, “While athletic footwear sales remain above pre-pandemic 2019 levels, inflation and recession fears coupled with lingering supply chain issues are creating shaky ground for the industry. We can expect a heavily promotional holiday shopping season for athletic footwear as brands promote to drive sales and clear excess inventory.”

In other news from NPD, its Holiday Purchase Intentions Study provides insight into the American consumer’s frame of mind entering the 2022 holiday season. The results indicate:

  • Financial caution comes to the forefront, with consumer perceptions of both the economy and their own financial situation falling below levels seen in 2020.
  • Compared to last year, 43 percent of respondents indicated they will spend less this holiday season due to higher prices.
  • Early shoppers started even earlier, spreading out their spending, but Black Friday is still considered to be the top day for finding the best holiday deals.

The information in this report comes from The NPD Group’s monthly point-of-sale footwear database. It is collected from the athletic specialty and sporting goods, premium, mid-tier, shoe chain, and other channels. It does not include direct-to-consumer (DTC) sales.