The Rise and Rise of Sneakers
Footwear, the second most important fashion segment, has seen a dramatic increase in its market share in recent years. Accounted for an important part of the footwear industry, sneakers are projected to reach a market share of 500 billion dollars in 2021. According to Marketwatch’s report, global “sneaker market”, which was 55 million dollars in 2016, has reached 78 billion dollars in 2020. Nike became the industry leader in 2020, followed by Adidas, Puma, New Balance and Under Armour.
Sneakers have become an indispensable part of our everyday style especially with the rise of "athleisure" (athletic + leisure) trend and street style that has embraced sneaker culture along with high and low dressing for the past 10 years. Also, with the pandemic, we saw a significant decline in the sales of classic shoes for men and high-heels for women in 2020. Brands like Chanel, Prada, Gucci and Dior seized this opportunity and focused on luxury sneaker collaborations.
According to Lyst, these are the top 10 sneakers of 2020. The Air Jordans 13 Retro Flint has sold over 40,000 pairs and ranked first on the list thanks to Netfix documentary The Last Dance. Dominated by Nike with 7 different pairs, the list also includes Adidas Yeezy Boost 350 V2 Carbon and New Balance 992. The sought-after collaborations, Nike x Dior for Air Jordans 1 Retro High Dior and Nike x Off- White for Air Jordans 4 Retro Off-White Sail are also placed second and third respectively.
Other sneakers featured in the list are: Nike SB Dunk Low Travis Scott, Nike SB Dunk Low Ben & Jerry's Chunky Dunky, Nike SB Dunk Low Grateful Dead Bears Orange, Nike Space Hippie 03 Vast Gray Hyper Crimson and Jordan 1 Retro High UNC To Chicago Leather .