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1 Market Overview
1.1 Definition and purpose of the study
Sneakers are defined as a pair of sports shoes that have been adapted for urban, everyday use. Derived from models designed for sports, they are valued for their comfort and style. In fact, sneakers are also fashion accessories that were used in the hip-hop world in the 1980s before becoming, in the 2000s, streetwear brands that spread into popular culture. In many countries, especially in the West, these shoes are widely worn as streetwear. Teenagers are the main users of sneakers as an everyday shoe, encouraged by the advertising campaigns of major brands. Nevertheless, consumers from other age groups also love to wear them. For urban use, multi-sport shoes, or reissued models from the 1960s-1970s are the most worn.
The global sneaker market is expected to grow at a CAGR of 5.18% between 2024 and 2031. Asia-Pacific is the dominant region in this market due to its large population umbers and rising average disposable income. These demographics, combined with the growing desire for a healthy and sporty lifestyle and more comfortable clothing explain the importance of the Asia-Pacific region for the global sneaker market.
In Italy, the growth rate of this sector is remarkable and the admirers and collectors, who were and still are complicit in social networks, have been joined by fanatics interested not so much in the object itself, but in the possibility of earning money it offers. Thus, a very rich secondary market has flourished in Italy, around which significant secondary activity has developed. it is a boom sustained by a demand that seems inexhaustible because, as is always the case with bubbles, it is inflated by unlimited confidence in the constant rise in prices.
What drives today-especially a young audience-to spend big bucks on a pair of shoes is the uniqueness and fantasy that surrounds it: for this reason, most of the most coveted models see identification with a character from the world of sports (such as Derrik Rose with Adidas) and music (Travis Scott with Nike), or partnerships with other fashion brands, for example Nike X Off White, by far one of the most profitable collaborations in the world of streetwear.
1.2 The Global Market
The global sneaker market is expected to grow by *.** percent annually between **** and **** to reach a value of $*** billion. This demand is mainly driven by the Asia-Pacific region, which has a large population and an increasing average standard of living. China is expected to account for ** percent of the global sneaker ...
1.3 The Italian market
In Italy, the market is very dynamic. According to Pricewaterhouse Coopers (***)[***]
Market Shares, Sportswear Sector Italy, ****, in percent PWC
In addition, women are a growing target audience on which all brands in the sector are focusing, among women the most popular brand is Puma (***) with high-end brands starting to produce sneakers ...
1.4 Exports and Imports
For data on imports and exports of sneakers we refer to the code"****** - Sports footwear "of UN COMTRADE.
As we can see from the graph, Italy is an importing country for sneakers. Imports far exceed exports although we can see that in recent years there has been an increase in ...
1.5 The Russian-Ukrainian conflict
During the Russian-Ukrainian conflict, the footwear manufacturing industry in Italy faced significant changes in prices and costs, reflecting the impact of multiple external factors:
Increased raw material costs: Geopolitical instability and economic sanctions caused disruptions in the supply chains of essential raw materials, such as leather and synthetic components, that are ...
2 Demand analysis
2.1 An increasingly popular product in Italy
The footwear market is showing trends with the sneaker segment growing, especially in terms of Italian household consumption.
Source: ****
P.M. (***): Indicates the average price in euros per pair of shoes for each material.
The summary table shows economic and quantitative data on shoe exports, categorized by upper material. Leather/leather ...
2.2 Italians' favorite sneakers
Fluctuations and Trends in Online Searches for "Sneakers" in Italy (***): Analysis of Seasonal and Annual Interest.
Searches for the term "sneakers" Italy, ****-****, index Google Trends, Businesscoot Processing
The value *** indicates the highest search frequencyof the term, ** indicates half of the searches. A score of *, on the other hand, indicates that ...
2.3 Demand driven by collectors
Sneakers have become much more than a consumer product for many buyers. There are many fans of this type of footwear and they do not hesitate to spend hundreds or even thousands every month to acquire the rare pair they need. These consumers are also known as "sneaker addicts."
Let's take ...
2.4 New demand trends
The following table provides a detailed cross-section of favorite brands in various product categories, from clothing and accessories to collectibles and electronics. [***]
Regarding the division of consumer demand between men and women, the former have **% of the utilities while the latter have increased to **%.
Breakdown Users between men and women on ...
3 Market structure
3.1 Market Structure
The footwear market represents a vital segment of the manufacturing industry, characterized by constantly changing competitive dynamics and consumption trends. In Italy, trends in the number of active companies offer significant insight into the sector's health and challenges.
Progressive contraction in the Italian footwear industry: Analysis of the period ****-****
Number ...
3.2 Value and production chain
The sneaker market supply chain begins with the factory receiving all the components needed for production (***). Then production can take place, after which the finished product is checked and packaged. Since production and final consumption very often occur far apart, the product is transported and exported to the market where it ...
3.3 Distribution and reselling channels
In the sneaker industry, distribution channels are a crucial element in the commercial success of products. As the market evolves and the reselling phenomenon increases, understanding distribution centers becomes critical to effective marketing strategies.
Location of Distribution Centers: Distribution centers are often located in logistically advantageous areas, near major urban centers ...
3.4 Major global manufacturers of sneakers
The sneaker industry is dominated by several major companies, each renowned for its unique contribution to fashion and functionality. The main ones are:
Nike: founded in **** by Bill Bowerman and Phil Knight. Initially, the company was called Blue Ribbon Sports and later renamed itself Nike in ****, taking its name from the ...
4 Supply analysis
4.1 Supply analysis
the following chart shows the progressive decline in sales of training footwear in Italyof the following categories: [***] Waterproof footwear with uppers of rubber or plastic material (***) [***] Town footwear with uppers of rubber or plastic material [***] Training footwear, etc., with soles of rubber or plastic material and uppers of textile material [***] Other ...
4.2 Prices of the most popular sneakers
This analysis examines the evolution of consumer price indexes for a specific category of products in Italy from **** to ****. Focusing on footwear production, the report tracks annual changes in the indices.
Consumer price index for footwear as a whole (***) - annual averages Italy, ****-****, index Istat Code ECOICOP [***]
In ****, the index ...
4.3 Collaboration between multiple brands
A collaboration or "collab" is a brend partnership that is made between two companies to create a product that features both brands. This strategy is often used to use the id strengths of both companies or simply to create a unique product that appeals to broader targets.
Collaborations between designers, celebrities, ...
4.4 Innovations in the sneaker world
In the world of sneakers, major innovations include:
Adidas has launched "Futurecraft.Loop," a revolutionary project that aims to create a fully recyclable sneaker. This initiative is part of the company's efforts to address waste and promote sustainability in the fashion industry. The shoes are designed to be returned to Adidas ...
5 Regulations
5.1 Regulatory framework
Labeling rules
When buying shoes, whether shoes, boots, or sneakers, consumers are often attracted only by elements such as style, color, and price, partially ignoring quality. Information about the materials used in the various parts of footwear (***) must be given special attention at the time of purchase, so much so that ...
6 Positioning of actors
6.1 Segmentation
- Foot Locker Italia
- Nike
- StockX
- Under Armour
- On Running
- New Balance
- Adidas
- Puma
- Skechers
- Jordan (Nike)
- Vans
- Farfetch
- GOAT
- WeTheNew
List of charts presented in this market study
- Keywords of major Italian e-commerce
- Monthly organic traffic major e-commerce data
- Consumer price index for the entire footwear community (base 2015 = 100) - annual averages
- Market share of sneaker manufacturers
- Value and Projection of the sneaker market
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Latest news
On: Roger Federer's beloved Swiss sneakers arrive in Paris - 09/11/2023
- Opening of first On store in France on November 17
- On's main markets: USA, Germany, UK
- On listed on Wall Street since 2021
- Roger Federer holds a 3% stake in the On brand
- On sales in 2022: 1.2 billion Swiss francs (1.25 billion euros), up 69% on the previous year
- On profit in 2022: 57.7 million Swiss francs
- Sales target for 2023: 1.76 billion Swiss francs
- The On brand was created in 2010 by three Swiss: Olivier Bernhard, Caspar Coppetti and David Allemann
- Production locations: footwear in Asia, apparel in Portugal, Turkey and Eastern Europe Boutiques in Zurich, London, New York, Los Angeles and China
- On products sold in over 9,800 points of sale in sixty countries
On Running, Roger Federer's Swiss sneaker, is on the rise in the U.S - 26/03/2023
- - Sales in 2021: 1.22 billion Swiss francs (1.23 billion euros), representing annual growth of 69%
- - Share of sales in the United States: 60%
- - Profit in 2021: 57.7 million Swiss francs
- - Sales forecast for 2022: 1.7 billion Swiss francs (+39%)
- - U.S. sniper sales in 2022: $57.4 billion (+2%)
New Balance will reach $5.3 billion in 2022. - 02/03/2023
- New Balance sales in 2022: $5.3 billion, up 21% on the previous year.
- Number of New Balance stores worldwide: Over 500.
- Number of New Balance partners: Over 3,000.
- New Balance has invested $65 million in a factory in Skowhegan, Maine
- Over the past ten years, New Balance has managed to double its sales.
Nike: direct sales save the year for the global sports giant. - 28/06/2022
- Nike targets double-digit growth for the coming year 2022.
- Nike experiences a 20% drop in sales in China.
- Nike focuses on its e-commerce site and its own stores.
- Nike expects annual growth of around 10%.
- Net income climbs to 5.7 billion euros.
- Products sold directly to consumers accounted for $18.7 billion over the year.
Nike up more than 6% - 28/06/2022
- Nike's direct-to-consumer sales account for 40% of its turnover
- The group posted sales of $46.7 billion (approx. 44.3 billion euros) in 2021-2022, up 6% excluding currency effects
- Profits reached $6 billion
- Sales slowed considerably in North America and mainland China
UNDER ARMOUR ANNOUNCES RECORD SALES FOR 2021 - 14/02/2022
2021 sales in North America: up 15%.
2021 international sales: up 3%.
Total sales for 2021: $5.7 billion
Wholesale revenues: up 16% to $768 million
Direct-to-consumer (DTC) revenues: up 10% to $720 million
E-commerce growth: 4%, representing 42% of total DTC activity in the fourth quarter.
North American sales: up 15% to $1.1 billion (€972 million).
International sales: up 3% to $461 million (407 million euros).
International sales by region: increase of 24% in EMEA, decrease of 6% in Asia-Pacific (APAC) and 22% in Latin America.
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The market for sneakers | Italy
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