If you consider some of the most sought-after designer pieces of the past few years, it’s no surprise that the footwear sector has succeeded. Balenciaga’s Triple S sneakers have been snapped up repeatedly, even as high as more than $ 900, which gave the brand enough motivation to surpass Gucci and become Kering’s fastest-growing brand. The company’s socks-like Speed Trainers are also very popular. Alessandro Michele also continues to introduce popular styles, from classic loafers to logo pool slides.
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“It’s no longer just a declaration package. Now, thanks to expanded accessibility, personalized footwear has become an area of consumer attention and investment,” said Marshal Cohen, chief industry consultant for NPD Group. “If we focus on what consumers are saying, these new market dynamics will bring a lot of opportunities to the entire luxury fashion market.”
The report looks at checkout e-commerce data in a panel of nine multi-brand retailers including department stores such as Saks Fifth Avenue and Bergdorf Goodman, as well as online pure retailers such as Farfetch and Net-A-Porter, and Their customers.
The report found that online luxury fashion sales have grown by nearly 50% in recent years. NPD has previously stated that it expects sports shoe sales to continue to grow in double digits over the next few years.
“The luxury market is constantly evolving, new brands are getting more and more attention, and online retailer platforms are improving the competitive landscape,” Cohen said. “Young, multi-ethnic people are more interested in buying designer products online, even more than the average online accessory, footwear or apparel buyer, which is the main driver of this development.