Increasing Online Sale to Augment Growth of Global Athletic Footwear Market

 

Aerobic and sports shoes have emerged as the most popular category of athletic footwear, as they facilitate better flexibility and movement. This footwear is made up of synthetic fibers which give the users a snug fit and high comfort level. These shoes are ideal for running and other athletic activities. The footwear has become highly popular among men and women who are engaged in any type of physical exercise.

Market Dynamics

Launch of new products is expected to propel growth of the global athletic footwear market over the forecast period. For instance, in September 2020, Nike launched Nike (M), a collection of maternity sports clothing to suit all stages of pregnancy and post-birth, including a sports bra that allows wearers to breastfeed.

Increasing online sale is expected to offer lucrative growth opportunities for players in the global athletic footwear market. For instance, Columbia Sportswear Company reported a 40% decline in overall net revenues in its July 2020 quarterly earnings report, due in part to pandemic-related store closures. However, the company’s e-commerce sales increased 72% compared with the year-ago period.

Emergence of Covid-19 has also led to closure of businesses worldwide, thereby hindering growth of the global athletic footwear market. For instance, in September 2020, Columbia Sportswear closed its stores in downtown Seattle due to Covid-19 and lack of footfall.

The footwear segment of global athletic footwear market is divided into Men's and Women's categories, in addition to Aerobics/Gym wear category. This category offers a large variety of athletic shoes for men and women and also Aerobics/Gym wear shoes. This footwear is made up of varied materials such as suede, nubuck, canvas, rubber and synthetic material for men and women respectively.

In the recent past, the demand for athletic footwear has declined. For instance, in November 2020, according to point-of-sale data from The NPD Group, athletic footwear sales declined in the mid-single-digits in the third quarter while active-wear saw a low single-digit increase in the period,

Competitive Analysis

Major players operating in the global athletic footwear market include, NIKE, Inc., New Balance Athletics, Inc., Skechers USA Inc., ASICS Corporation, Adidas AG, Puma SE, Wolverine World Wide, Inc., Under Armour, Inc., VF Corporation, and FILA Korea, Ltd.

September 2020: Nike's Jordan Brand released a fashion collection that lets Snapchat users dress up their Bitmoji avatars with virtual sportswear and buy it online to wear in real life.