We knew it was a possibility, but now it actually happened — Skechers has stepped into second place in U.S. footwear sales.
First quarter sales results are in, and the Wall Street Journal is reporting that Skechers has amassed five percent of the market. In comparison, adidas finished through March with 4.6 percent, while ASICS and New Balance held onto four percent apiece. Meanwhile, industry giants Nike and Jordan Brand continue to dominate the sector with a whopping 62 percent of U.S. sales. These figures are based on stats released by the NPD Group.
For Skechers, its growth is reflective of recent trends like "fashion casual" and "athleisure," which means many people who are copping Skechers sneakers have little to no intentions of actually putting them to use for their intended purposes. In other words, it's more about looking sporty than actually performing any physical activity.
Although running shoes remain immensely popular in the States, NPD Group's Matt Powell cites the brand's emphasis on walking footwear as another key factor: “Walking has been relatively dormant for a number of years, and they’ve kind of reignited it," said Powell. It'll be interesting to see if they can keep the spark alive through the remainder of 2015.
The take away from all of this: Your parents are buying way more sneakers than you think. Or the youth is becoming less of sneakerheads than we think. You make the call.
[via Wall Street Journal]