Inflation in the Sneakers Market

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Image Credits: Nice Kicks

Pegi Bracaj, Senior Editor

In the past year, the annual inflation rate in the US has accelerated to 7%. Unquestionably, this has had a major effect in all aspects of life. In particular, footwear prices have also been increasing at the fastest inflation rate in 20 years. Overall when compared to 2020, prices of sneakers have increased month-by-month, with a 4.5% rise in July and 5.1% rise in August of last year. 

While men’s shoes saw an increase of 5.5%, and women trailed behind with 4.9%, the biggest increase of all was kids’ shoes, which rose by 11.9%. As shocking as it was to uncover the rise of prices in sneakers as soon as we entered 2021, brands like Nike make it easy to see the increase. 

Right after New Year’s Eve, the Air Force 1 – one of the most iconic Nike silhouettes – had increased by $10. Overall, the Footwear Distributors and Retailers of America (FDRA) concluded that footwear prices have been experiencing the fastest rate of growth in the last 20-years, considering the fact that year-to-date prices have increased by 3.2%.