Shoe Stores in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: March 2024
NAICS 44821Revenue
$62.2bn
Past 5-Year Growth
Profit
$XX.Xbn
Employees
324k
Businesses
12,930
Wages
$X.Xbn
Shoe Stores in the US industry analysis
Shoe stores rely on strong consumer spending to spur demand for industry products. The economy has strengthened during some of the five years to 2023, prior to the outbreak of COVID-19. The strong economy and spending habits did not necessarily benefit industry participants due to changing consumer shopping habits, as more shoe purchases occurred at department stores. The industry contracted in 2020, likely due to the temporary closure of many industry establishments. In the current year, increased disposable income and e-commerce sales are expected to contribute to a growth of 0.5% in 2023. Industry revenue is estimated to increase at an CAGR of 0.7% to $61.1 billion over the five years to 2023.This industry experiences stiff competition from alternative retailers that sell shoes. Department stores, mass merchandisers and internet-based retailers give consumers alternative options to purchase shoes outside of traditional shoe stores. Department stores and mass merchandisers offer one-stop shopping, which helps shoppers save time by enabling them to buy clothes and shoes for the entire family in one place. Online retailers provide the same convenience, with the added bonus of easy price comparisons across products. Despite price-based competition, consolidation among operators has enabled industry profit, measured as earnings before interest and taxes, to rise. Many big-name manufacturers, like Nike., have been reducing the number of wholesale accounts they sell to in order to expand their more profitable direct-to-consumer sales segment.With continued economic growth and strong consumer spending, the industry is expected to show some revenue gains over the five years to 2028. E-commerce sales as a whole will increase, supporting industry growth. While this increases competition for physical shoe stores, these figures contribute to overall revenue growth. The industry is expected to benefit from a growing portion of the population participating in sports and rising consumer spending, increasing demand for shoes. Over the next five years, revenue is projected to increase at a CAGR of 1.8% to $66.9 billion.
Trends and Insights
- Despite fluctuations in revenue, the industry has grown over the last few years. The COVID-19 pandemic and fluctuating consumer confidence caused growth to be inconsistent during the period, but online shopping help the industry continue to grow.Over the five years to 2028, the Shoe Stores industry's performance is expected to increase, following the declines experienced during the current period. A rise in per capita disposable income, coupled with the increasing popularity of online shopping and improvement in consumer confidence contributes to this growth.
- The majority of revenue generated by the sales of women's shoes comes from nonathletic footwear. The mounting availability of women's footwear options has partially driven this trend.Consumers between ages 25 and 44 are the largest market for the Shoe Stores industry. Individuals in this age range generally have steady streams of income and can spend on discretionary purchases such as apparel and footwear.
- The spread of shoe stores closely follows that of the US population. Operators serve their local markets and open up shop close to their customers.Business patterns do not shift drastically, just as the general population changes little from year to year. The greatest demand is where the largest market is, so retailers establish their operations in proximity to these markets to generate the largest revenue and highest profit.
- Many brick-and-mortar locations are struggling to compete with online retailers. For this reason, as well as employee strikes causing some labor shortages, companies big and small have been forced to exit the industry.To resist shutting down operations, companies have increased mergers and acquisitions. Small and large companies benefit from these efforts as they reduce competition in the industry.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 1.0 % over the past five years, to reach an estimated $62.2bn in 2024.
Trends and Insights
The COVID-19 pandemic disrupted regular industry activity
- Industry revenue declined in 2020, unaided by the adverse effects of the coronavirus pandemic.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
A trend that threatens the industry is the movement toward casual office dress
- Many employers have altered dress codes to permit more comfortable office attire. This trend enables working adults to use the same shoes for both work and leisure.
Biggest companies in the Shoe Stores in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Foot Locker, Inc. | 6,377.9 | 610.8 | 9.6 | |
Designer Brands Inc. | 2,663.3 | 76.2 | 2.9 |
To view the market share and analysis for all 2 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Men's nonathletic shoes, Women's nonathletic shoes and Men's athletic shoes. Men's nonathletic shoes is the largest segment of the Shoe Stores in the US.
Trends and Insights
Men have historically purchased more athletic footwear than women
- This segment has grown even more popular in recent years due to the rise in popularity of athleisure wear.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Used Goods Stores in the US
- E-Commerce & Online Auctions in the US
- Mail Order in the US
Complementors
- Lingerie, Swimwear & Bridal Stores in the US
- Sporting Goods Stores in the US
International industries
- Global Footwear Manufacturing
Table of Contents
About this industry
Industry definition
Retailing footwear is the primary function of this industry. The sale of footwear usually involves purchasing footwear from wholesalers and selling it directly to customers. Hosiery and sports footwear, such as golf shoes, bowling shoes and cleats, are excluded from this industry, as are any sales made via catalogs or the internet.
What's included in this industry?
Retailing children's shoesRetailing athletic shoes (except sport-specific shoes such as cleats and bowling shoes)Retailing men's casual and formal shoesRetailing women's casual and formal shoesCompanies
Foot Locker, Inc.Designer Brands Inc.Purchase this report to view all 2 major companies in this industry.
Related Terms
BRICK-AND-MORTARRADIO FREQUENCY IDENTIFICATION (RFID)RETAIL THEATERIndustry Code
NAICS 44821 - Shoe Stores in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Despite fluctuations in revenue, the industry has grown over the last few years. The COVID-19 pandemic and fluctuating consumer confidence caused growth to be inconsistent du...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
The majority of revenue generated by the sales of women's shoes comes from nonathletic footwear. The mounting availability of women's footwear options has partially driven th...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The spread of shoe stores closely follows that of the US population. Operators serve their local markets and open up shop close to their customers.Business patterns do not sh...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Many brick-and-mortar locations are struggling to compete with online retailers. For this reason, as well as employee strikes causing some labor shortages, companies big and ...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Foot Locker is a public company headquartered in New York with an estimated 49,933 employees. The company has a notable market share in the Shoe Store industry, where they ac...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Foot Locker, Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Designer Brands Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for Foot Locker, Inc., and factors influencing its performance in the industry
- Description and key data for Designer Brands Inc., and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Regulations relevant to the Shoe Stores industry are generally covered by each state. Congress and individual states enact trade regulations with the aim of maintaining a fre...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
The upkeep of physical locations tends to run up costs. Operating brick-and-mortar stores is labor intensive – though most operators pay low wages to minimize costs – and bei...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Shoe Stores in the US industry in United States in 2024?
The market size of the Shoe Stores in the US industry in United States is $62.2bn in 2024.
How many businesses are there in the Shoe Stores in the US industry in 2024?
There are 12,930 businesses in the Shoe Stores in the US industry in United States, which has grown at a CAGR of 0.5 % between 2019 and 2024.
Has the Shoe Stores in the US industry in United States grown or declined over the past 5 years?
The market size of the Shoe Stores in the US industry in United States has been growing at a CAGR of 1.0 % between 2019 and 2024.
What is the forecast growth of the Shoe Stores in the US industry in United States over the next 5 years?
Over the next five years, the Shoe Stores in the US industry in United States is expected to grow.
What are the biggest companies in the Shoe Stores in the US market in United States?
The biggest companies operating in the Shoe Stores market in United States are Foot Locker, Inc. and Designer Brands Inc.
What does the Shoe Stores in the US in United States include?
Retailing children's shoes and Retailing athletic shoes (except sport-specific shoes such as cleats and bowling shoes) are part of the Shoe Stores in the US industry.
Which companies have the highest market share in the Shoe Stores in the US in United States?
The company holding the most market share in United States is Foot Locker, Inc..
How competitive is the Shoe Stores in the US industry in United States?
The level of competition is high and steady in the Shoe Stores in the US industry in United States.
