Latest News- Athletic Footwear Market in US: Offline is expected to lead the Distribution Channel segment during 2024-2028
The Athletic Footwear Market in US is being driven by Popularity of sports and fitness activities
The Athletic Footwear Market in US is expected to grow at a CAGR of 5.6% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 8.45 billion. In the dynamic athletic footwear market of the US, vendors are increasingly adopting strategies such as expedited delivery processes, mass customization, and personalization to cater to consumers' evolving preferences. Mass customization and personalization, fueled by advancements in technology, supply chain optimization, and organizational restructuring, are becoming key differentiators. Technological innovations in footwear measurement, product development, and delivery enable the production of custom-made models, providing consumers with footwear tailored to their unique requirements. This not only enhances comfort by optimizing the fit for individual feet, ankles, calf muscles, and legs, but also benefits those with medical conditions or difficulty finding suitable footwear.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Distribution Channel (Offline, Online) End-user (Men, Women, Children) Type (Running and jogging, Sports shoes, Aerobic and gym shoes, Hiking and backpacking shoes) Geography (North America).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Athletic Footwear Market in US Research Report
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The athletic footwear market in the US is witnessing a surge due to increasing fitness awareness and the popularity of sports shoes. Brands are releasing running shoe guides and showcasing the best running shoes with enhanced durability and reduced weight. Clearance sales on running shoes, sustainable and eco-friendly athletic footwear, and performance running shoes are driving sales. The industry caters to both men and women, offering various designs, from trekking shoes to golf shoes. Brands employ footwear technology, cushioning, and support to create comfortable and innovative shoes. Sports events and footwear distribution channels contribute to footwear sales. Consumers compare running shoes based on features, price, fit, and trends. Footwear marketing strategies focus on footwear technology, comfort, and sustainability.
The Athletic Footwear Market in the US is a significant segment of the global Footwear Market, which falls under the broader industry of Textiles, Apparel, and Luxury Goods. This market encompasses businesses producing athletic footwear for various demographics. Technavio, a leading global technology research and consulting firm, sizes the Global Textiles, Apparel, and Luxury Goods Market based on the consolidated revenue of apparel, accessories, luxury goods, footwear, and textile manufacturers. Key growth drivers in the global footwear market include the increasing preference for branded footwear due to a growing young and middle-class population. This trend is particularly noticeable in the running shoe segment, hiking shoes, and spring sports categories, such as soccer. Additionally, factors like hip and back pain alleviation, health benefits, and eco-consciousness, as represented by organizations like Greenpeace, are influencing consumer choices in the market. Diabetes patients and fitness-conscious individuals also contribute to the market's growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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Email: media@technavio.com
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