Description

This report provides comprehensive and current information and analysis of the sneakers and streetwear market including sneakers and streetwear market size, anticipated market forecast, relevant market segmentation, and industry trends for the sneakers and streetwear market in the US.

Current sneaker and streetwear market landscape

In the past 12 months, nearly one third (29%) of consumers have purchased 3+ pairs of sneakers for themselves, which increases for both Gen Z and Millennials. These younger generations are also most likely to be familiar with and have purchased from various streetwear brands during this time frame. These behaviors highlight the potential for growth within these categories moving forward. That said, current social and economic conditions will challenge growth in terms of sales – both for brands and consumers. For example, both Nike and Adidas are reportedly planning to reduce production volume by 30-40% heading into 2023, resulting in fewer new releases and even further limited quantities. While consumers may adjust their shopping behaviors (eg shopping less, trading down), their interest in these categories will not waver. They will continue looking for ways to engage with sneakers and streetwear IRL and digitally, and will be willing to shop when the need or right opportunity presents itself.

Sneakers market share and key industry trends

  • 77% of consumers have purchased sneakers for themselves in the past 12 months, increasing to 80% or more for males (80%), Gen Z (84%), Younger Millennials (88%), Older Millennials (89%) and Black consumers (88%). These specific demographics are also most likely to have purchased 3+ pairs during this timeframe (see Sneakers Purchase Behavior).
  • Of sneaker brands explored, Nike is the most purchased overall (78%) followed by Adidas (37%), Puma (24%), New Balance (23%) and Vans (21%). Younger generations overindex on shopping for most of these brands, as well as Reebok, Converse and Under Armour. Notably, female consumers overindex for Vans and Converse – highlighting this segment’s interest in more casual footwear.
  • When shopping for sneakers, the most important factors for consumers are comfort (80%), price (71%), style (63%), purpose (45%) and brand name (38%). Certain elements are considered more often for specific consumer segments – such as Gen Z and Millennials overindexing on uniqueness, males on brand name and females on comfort (see Factors of Importance for Sneakers).

Future market trends in sneakers and streetwear

Interest in sneakers and streetwear continues to increase among consumers, particularly younger generations and multicultural cohorts. As these key demographics continue to become more prominent in the overall population, these industries will present more opportunities for brands and retailers across categories – especially as mainstream culture continues to become more accepting of and further adopts sneaker and streetwear cultures.

Read on to discover more about the sneakers and streetwear consumer market, read our US Athleisure Market Report 2022, or take a look at our other Clothing, Footwear & Accessories Market research reports.

Quickly understand the streetwear industry market size

  • The impact of current economic/market conditions on sneakers and streetwear.
  • Shopping behaviors; retailers shopped for sneakers and streetwear.
  • Driving factors of influence and inspiration.
  • Attitudes toward sneakers and streetwear.

Covered in this sneakers market report

Brands include: Champion, Supreme, Obey, Off-White, Stüssy, BAPE, The Hundreds, Nike, Adidas, Yeezy, Bella Doña, eBay, StockX, GOAT, Poshmark, Airbnb, Marvel, Disney, Puma, Kellogg’s, Native Shoes, eBay, StockX, GOAT, Vans, Converse, Reebok.

Expert analysis from a specialist in the field

This report, written by Vince DiGirolamo, a leading analyst in the Retail sector, delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.

Consumers, and society at large, are continuing to embrace sneakers and streetwear. In addition to the comfortability of these items, increasing engagement is largely driven by interest in the style, affinity for certain brands and elements of self-expression that come with these items. Looking ahead, Mintel expects the sneakers and streetwear industries to continue to grow, creating opportunities for brands and retailers across categories. As they become more adopted into mainstream culture, the key for sneakers and streetwear brands will be remaining true to what makes them unique.

Vince DiGirolamo, Reports Director
Vince DiGirolamo
US Reports Director

Table of Contents

  1. Overview

    • What you need to know
      • This Report looks at the following areas
        • Definition
          • Market context
          • Executive Summary

              • Top takeaways
                • Sneakers and streetwear outlook
                  • Figure 1: Sneakers and streetwear outlook, 2022-27
                • Opportunities and challenges
                  • Current economic, social and industry challenges may impact category sales but not interest
                    • A growing diverse population creates opportunities with sneakers and streetwear
                      • Bots will continue to pose a threat
                        • Virtual worlds open new doors
                          • Explore opportunities to collaborate
                            • Key consumer insights
                            • Sneakers and Streetwear Perspective

                              • Understanding the sneakers industry
                                • Understanding the streetwear industry
                                • Market Factors

                                  • Rising prices and decreased consumer confidence create challenges
                                    • Figure 2: Consumer Price Index change from previous period, 2007-22
                                    • Figure 3: Consumer Sentiment Index, 2007-22
                                  • Various global and societal issues could further hinder market growth
                                    • A growing diverse population creates opportunities with sneakers and streetwear
                                      • Figure 4: Population by race and Hispanic origin, 2017-27
                                      • Figure 5: Bella Doña streetwear brand celebrates Mexican American culture
                                      • Figure 6: Kids of Immigrants and Buchanan’s Whisky create clothing collaboration
                                    • Sneaker resale industry will continue to grow – creating opportunities and challenges for consumers, brands and retailers alike
                                      • Bots crash the party
                                        • Figure 7: Bots negatively impact experience for consumers and sneaker designers
                                        • Figure 8: Nike communicates efforts to combat sneaker bots
                                      • Sneakers and streetwear are the intersection of individuality and community
                                      • Competitive Strategies and Market Opportunities

                                        • Nike looks to “reward” consumers who have taken losses
                                          • Figure 9: Nike looks to help consumers turn Ls into “Got ‘ems!”
                                        • Airbnb taps into sneaker interest
                                          • Figure 10: Airbnb connects its offering to sneaker culture
                                        • BAPE and Marvel reunite to launch collab collection
                                          • Figure 11: BAPE rejoins forces with Marvel Comics
                                        • Culture influences consumers and creates opportunities for brands
                                          • Figure 12: Adidas, Puma and Champion celebrate iconic cultural films and figures
                                        • Bring subscription service model to sneakers and streetwear
                                          • Figure 13: Native Shoes Remix Project gives new life to worn shoes
                                        • The future really is now: create virtual items and experiences
                                        • Sneakers and Streetwear Consumers – Fast Facts

                                          • Sneakers Purchase Behavior

                                            • Sneaker purchases
                                              • Interest in sneakers beyond function drives purchases, especially for younger generations and males
                                                • Figure 14: Sneaker purchases, by generation, 2022
                                                • Figure 15: Sneaker purchases, by gender, 2022
                                                • Figure 16: ELLE magazine highlights styling tips for classic sneakers
                                                • Figure 17: Crep Protect promotes cleaning sneakers
                                              • Black consumers are heavy sneaker buyers
                                                • Figure 18: Sneaker purchases, by race and ethnicity, 2022
                                              • LGBTQ+ consumers’ purchase behavior creates opportunity
                                                • Figure 19: Sneaker purchases, by sexual orientation, 2022
                                                • Figure 20: Converse and Nike show support for LGBTQ+ communities
                                                • Figure 21: Vans and Keds show support for LGBTQ+ communities
                                              • Brand purchases
                                                • Nike leads the way overall; interest and opportunities exist across brands with younger generations
                                                  • Figure 22: Sneaker brand purchases, by generation, 2022
                                                  • Figure 23: Previous New Balance ad acknowledging “dad sneaker” label
                                                • Males and females are shopping across brands
                                                  • Figure 24: Nike taps notable female figures Jess Sims, Tunde Oyeneyin and Billie Eilish
                                                  • Figure 25: Adidas targets female consumers with Beyoncé partnership and SportyRich collection
                                                  • Figure 26: Sneaker brand purchases, by gender, 2022
                                                • Brands must heighten focus on increasingly diverse audiences
                                                  • Figure 27: Sneaker brand purchases, by race and ethnicity, 2022
                                              • Factors of Importance for Sneakers

                                                • Comfort, price and style lead the way across generations
                                                  • Figure 28: Factors of importance – Sneakers, by generation, 2022
                                                • Females evaluate factors more than males
                                                  • Figure 29: Factors of importance – Sneakers, by gender and generation, 2022
                                                  • Figure 30: ELLE Magazine and Glamour highlight casual white sneakers
                                                  • Figure 31: Sneaker brands highlight collaborative efforts
                                                  • Figure 32: Sneaker brands focus on style and uniqueness
                                              • Streetwear Brand Familiarity

                                                • Low familiarity for most streetwear brands, yet younger generations show potential for growth
                                                  • Figure 33: Champion shares brand history timeline
                                                  • Figure 34: Champion focuses on appealing to female audience
                                                  • Figure 35: Supreme’s various collaborations spark interest and enthusiasm
                                                  • Figure 36: Virgil Abloh highlights Off-White’s partnership with Nike
                                                  • Figure 37: Streetwear brand familiarity, by generation, 2022
                                                • Highlighting connection to culture can appeal to multicultural consumers
                                                  • Figure 38: Streetwear brand familiarity, by race and ethnicity, 2022
                                                  • Figure 39: Kith looks to connect with Black consumers
                                              • Streetwear Brand Purchases

                                                • As awareness and interest grow, so too will purchases
                                                  • Figure 40: Champion drives relevance and appeal with key audiences
                                                  • Figure 41: Streetwear brand purchases, by generation, 2022
                                                  • Figure 42: Streetwear brand purchases, by race and ethnicity, 2022
                                              • Retailers Shopped

                                                • Consumers will shop at retailers that offer what they are looking for
                                                  • Figure 43: Retailers shopped – Sneakers OR streetwear, by generation, 2022
                                                • Males and females share similar shopping locations
                                                  • Figure 44: Retailers shopped – Sneakers OR streetwear/sneakers and NOT streetwear, by gender, 2022
                                                  • Figure 45: PacSun highlights sneakers and streetwear items on TikTok
                                                • Multicultural consumers will shop at a variety of retailers to find what they want; Black consumers shop more specialty stores
                                                  • Figure 46: Retailers shopped – Sneakers OR streetwear, by race and ethnicity, 2022
                                                  • Figure 47: Retailers shopped – Sneakers and NOT streetwear, by race and ethnicity, 2022
                                                • LGBTQ+ consumers overindex across all retailers, except Amazon
                                                  • Figure 48: Retailers shopped – Sneakers OR streetwear, by sexual orientation, 2022
                                              • Influence and Inspiration Factors

                                                • Interest comes from a variety of sources; social media is key in driving inspiration
                                                  • Figure 49: Factors influencing interest, by generation, 2022
                                                  • Figure 50: Sources of inspiration, by generation, 2022
                                                  • Figure 51: Madhappy brings nostalgia with Space Jam collection
                                                  • Figure 52: Chipotle taps into streetwear culture
                                                • Create engagements with both males and females early and often
                                                  • Figure 53: Factors influencing interest, by gender, 2022
                                                  • Figure 54: Sources of inspiration, by gender, 2022
                                                  • Figure 55: LeagueFits showcases athletes’ wardrobes and where to purchase
                                                  • Figure 56: LeagueFits taps into popularity of NBA2K
                                                  • Figure 57: DC personality Britt Waters showcases her passion for sneakers on air
                                                • Black consumers are eager for related content
                                                  • Figure 58: The Complex Sneakers Podcast provides in-depth coverage of sneaker culture
                                                  • Figure 59: Adidas partners with diverse artists: Bad Bunny, Anitta and Pharrell
                                                  • Figure 60: Factors influencing interest, by race and ethnicity, 2022
                                                  • Figure 61: Sources of inspiration, by race and ethnicity, 2022
                                                • Parents, and their kids, are not to be overlooked
                                                  • Figure 62: Factors influencing interest, by parental status, 2022
                                                  • Figure 63: Sources of inspiration, by parental status, 2022
                                                  • Figure 64: Various sneakers and streetwear brands target parents with kid-focused items
                                                  • Figure 65: Opportunity to highlight key figures’ kids’ styles
                                              • Attitudes toward Sneakers & Streetwear

                                                • Personal style
                                                  • Sneakers and streetwear aren’t going away; allow consumers to express their individuality and interests
                                                    • Figure 66: Attitudes toward sneakers & streetwear – Personal style, by generation, 2022
                                                    • Figure 67: Crep Protect showcases benefits of sneaker crates
                                                    • Figure 68: ASICS partners to build connections with students
                                                  • Black and Hispanic consumers turn to sneakers to express their personal style
                                                    • Figure 69: Attitudes toward sneakers & streetwear – Personal style, by race & ethnicity, 2022
                                                    • Figure 70: New Balance’s “Conversations Amongst Us” celebrates Black culture
                                                  • Focus on authenticity
                                                    • Shopping for sneakers and streetwear isn’t always easy or enjoyable; opportunity to evolve the experience to attract younger generations
                                                      • Figure 71: eBay Sneakers targets buyers and sellers with discounts
                                                      • Figure 72: eBay Sneakers explains authentication process
                                                      • Figure 73: StockX updates verification language
                                                      • Figure 74: Nike targets resellers
                                                      • Figure 75: Attitudes toward sneakers & streetwear – Focus on authenticity, by key demographics, 2022
                                                    • Vintage/secondhand shopping options
                                                      • What’s old is “new” again
                                                        • Figure 76: Vintage-style clothing stores appeal to key consumer segments
                                                        • Figure 77: Urban Outfitters highlights vintage-inspired clothing
                                                        • Figure 78: Secondhand shopping platforms highlight sneakers and streetwear items
                                                        • Figure 79: Attitudes toward sneakers & streetwear – Vintage, secondhand and resale, by key demographics, 2022
                                                      • Areas of improvement and evolutions
                                                        • Bring fair and increased opportunities to consumers, including beyond IRL
                                                          • Figure 80: More than one million consumers entered Travis Scott x Nike raffle
                                                          • Figure 81: Concepts addresses fraudulent activity during item release; fixes the issue and rereleases sneaker
                                                          • Figure 82: Nike and RTFKT are blending the physical and digital worlds together
                                                          • Figure 83: Adidas introduces Virtual Gear NFTs; Puma promotes soccer-themed Roblox apparel
                                                          • Figure 84: Attitudes toward sneakers & streetwear – Areas for improvement, by key demographics, 2022
                                                      • Appendix – Data Sources and Abbreviations

                                                        • Data sources
                                                          • Consumer survey data
                                                            • Abbreviations and terms
                                                              • Abbreviations
                                                                • Terms
                                                                • Appendix – The Consumer

                                                                    • Figure 85: Sneaker purchases, by race and ethnicity and generation, 2022
                                                                    • Figure 86: Retailers shopped – Sneakers and NOT streetwear, by generation
                                                                    • Figure 87: Factors influencing interest, by sexual orientation, 2022
                                                                    • Figure 88: Sources of inspiration, by sexual orientation, 2022
                                                                    • Figure 89: Attitudes toward sneakers & streetwear – Personal style, by sexual orientation, 2022

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