The US footwear industry is expected to stabilise over the next three years. So says NPD.

The industry is expected to see a steady growth in sales revenue through 2025, with unit sales beginning to improve in 2024 as the pressure from average price increases eases. Consumers will look to maximise versatility with their upcoming footwear purchases, as shoes good for casual everyday use will top the reasons for purchase in the first half of 2023. So the year will be a reset year for the footwear industry.

After three years of ups and downs, sales and price trends are expected to level out as consumers settle into their now-familiar lifestyles and make strategic choices about their must-haves versus their nice-to-haves, as they continue to grapple with macroeconomic pressures.

As consumer priorities shift, the blurring of fashion and athletic footwear, says NPD, will continue to be a major factor in the industry. Casual footwear, sneakers, and athletic footwear are considered necessities, compared to dress footwear, outdoor shoes, and slippers, which are viewed as non-essential.The sport leisure category generated the highest sales in 2022, but fashion footwear was the biggest driver of growth as the return to workplaces, events, and other activities brought attention back to more formal footwear categories.