Women are no longer keen to sticking out their long days in stressful stiletto heels, opting for more pain relieving options, according to market experts.
America’s most popular women’s shoe style has seen a decrease in sales of 12 per cent compared to woman’s sneakers which saw a 37 per cent sale increase, according to NPD Group’s retail tracking service.
Monetarily speaking, that comes out to approximately $2.3billion.
‘This is not a burn-your-heels moment — the majority of women still have heels in their wardrobes,’ said Katie Smith, director of retail analysis at Edited, to the LA Times.
America’s most popular women’s shoe style has seen a decrease in sales of 12 per cent (stock)
‘But there isn’t an expectation anymore that if I go to a party, I have to put on my spiky heels, stand for two hours and then want to die. Social mores are changing.’
Edited, New York-based market research firm, shared that high heel inventory rose 28 per cent in the year. So the lack of inventory and options wouldn’t be heavily supported by that.
As workplaces become less stringent in their dress codes and as fitness crazes sweep the country, women are becoming increasingly aware of how much movement they can actually get done in their shoes.
Women’s sneaker sales have gone up 37 per cent, accounting for $2.3billion (stock)
‘Even after we get to work, we’re trying not to sit at our desks all day,’ Smith added, ‘We stand. We take the stairs. We walk to lunch. We’re constantly counting our steps, so it makes sense to wear comfortable footwear and clothing.’
With sales continuing to slip, it comes as no surprise that one-third of heels have had to have their prices slashed at an average of 47 per cent.
High heel inventory rose 28 per cent this year, meaning that lack of options isn’t a reason for sale declines (stock)
Smith explained: ‘This is not a burn-your-heels moment — the majority of women still have heels in their wardrobes.
‘But there isn’t an expectation anymore that if I go to a party, I have to put on my spiky heels, stand for two hours and then want to die. Social mores are changing.’
There’s been heightened awareness and visibility surrounding the comfort of wearing flats. Celebrities have moved to include flats in their runway looks and a ballet flat emoji is slated to come out later this year.
‘Across the board, there’s an increasing casualization of every occasion, including at work,’ Smith chimed. ‘We’re dressing in jeans and sneakers. We’re dressing for comfort and function.’
And with that casualization comes consolidation as Michael Kors paid $1.2billion for upscale shoe brand, Jimmy Choo, last year. Coach had just bought Stuart Weitzman for $574million, two years prior.
Laxer dress codes and accessibility along with comfort are some of the leading reasons behind the shift (stock)
But Mintel, another market research firm, found that nearly half of the women they interviewed said that they were willing to pay more for comfort than they would for style.
‘People are multitasking more these days — they’re going from yoga class to work, then from happy hour to pick up their kids, and they don’t want to change into four different outfits,’ added Alexis DeSalva, retail and apparel analyst at Mintel.
‘Flat shoes have become a staple in multipurpose dressing.’