The massive use of technology, connection with applications and less global products are highlighted as the new wave of sneakers
A revolution is underway in the world of tennis. As we enter 2024, we witness the culmination of an evolution that began with the first handcrafted shoes and spanned the era of mass production in the 20th century. Today, technological integration and sustainability are the driving forces of the trends shaping the footwear market. Experts point to a future where the focus shifts from retro to futurism and technology, promising to transform what we wear.
The most notable innovation comes in the form of smart shoes that, equipped with sensors and connected to mobile apps, promise to revolutionize the way we interact with our sneakers. These performance models will not only track fitness metrics, but also provide real-time feedback and personalized coaching, meeting the demands of increasingly health and wellness-conscious consumers.
Foot health is also gaining attention, with an increase in demand for comfortable, performance trainers designed for specific activities. This trend is driven by a growing awareness of the importance of proper footwear for overall health. This explains the increase in sales of brands that prioritize this in their launches, such as Asics and New Balance. This trigger was the perception, during the Covid-19 pandemic, that a better physical condition helps to better cope even with critical situations such as a global pandemic.
Psychographic segmentation will also be a strong trend for the next few years. Consider the buyer’s lifestyle, values and interests. For example, environmentally conscious consumers might prioritize sustainable footwear, while fitness enthusiasts seek performance-oriented footwear. Identifying these segments helps brands create targeted marketing strategies for each audience. This is combined with the production of less global and more regional products, at least in design, to attract the attention of consumers who want to feel more exclusive. National collaborations will gain more and more strength.
At the same time, sustainability emerges as a central pillar in the footwear industry. Leading brands are embracing eco-friendly materials like recycled plastic and organic cotton and implementing sustainable practices in their manufacturing. This change reflects a growing commitment to preserving the environment and ethical production.
Revenue is increasing
Financially, the global sneaker market is on a growth trajectory after a decline in 2023, with expected revenue of $84.5 billion in 2024 and expected annual growth of 5.22% through 2029. The United States leads this market, with an estimated revenue of $24,510 million. in 2024, reflecting America’s ongoing passion for sneakers, especially limited-edition releases and collaborations.
Sales of lifestyle sneakers also point to a recovery, expected to reach $19.84 billion this year, with expectations of a new record of around $22 billion next year. In 2017, when Statista’s measurements began, sales were $11.99 billion, peaking at $20.29 billion in 2021, falling to $18.16 billion last year.
Source: Terra
Ben Stock is a lifestyle journalist and author at Gossipify. He writes about topics such as health, wellness, travel, food and home decor. He provides practical advice and inspiration to improve well-being, keeps readers up to date with latest lifestyle news and trends, known for his engaging writing style, in-depth analysis and unique perspectives.
