The market for athletic shoes in the U.S. dropped by 4.0 percent to $11,957 million in terms of invoiced sales by the major brands, after a 0.6 percent drop in 2008. Weak retail sales combined with aggressive inventory management by retailers and a few major bankruptcies all combined to make 2009 the most challenging year ever for the industry as far as revenues are concerned. Bottom-line results were better, though, as cost-cutting and aggressive inventory management by vendors, as well as a lack of restructuring and impairment charges from 2008, were also factors.
Our colleagues at Sporting Goods Intelligence in the U.S. have compiled their annual chart of market shares in the U.S. athletic shoe market. The No. 1, Nike, gained a little market share, rising to 42.20 percent compared with 41.78 percent in 2008. Adidas lost ground, falling to 11.29 percent of the market compared with 12.05 percent the year before. Skechers, in third place, gained momentum in the second half with toning shoes, with its market share rising to 9.01 percent from the 8.71 percent it had in 2008.
The next three on the list were New Balance, VF Corporation and Asics, with shares of 7.42 percent, 5.02 percent and 4.09 percent respectively. Probably the most impressive performances were by VF Corporation and Asics, which turned in mid- to high-single-digit sales gains. Under Armour had by far the biggest gain of any U.S. brand with a 50.6 percent increase to push its share over 1 percent. K-Swiss and Heelys had the weakest performances in the market. Heelys was producing sales north of $160 million in 2006 and is now at just $20 million.
Based on the early indications for 2010, SGI believes the U.S. market is going to rebound nicely. While toning shoes are giving a big shot to the moribund walking category, that is not the only thing that’s selling. In particular, lightweight running has paced the performance business (more in the American edition of SGI).
