Just like the majority of other industries, the sneaker industry has been hit hard with the COVID-19 pandemic. With brick-and-mortar and retail stores being forced to close up shop until further notice, sales have plummeted over the past couple of months. It’s no surprise that many of your favorite brands and retailers seem to be having a big sale in what seems every few days.
At this point, many of these companies are simply trying to stay afloat and weather the storm. That said, we all know that eventually this pandemic will thankfully come to an end. Once that day arrives and life goes back to normal (whatever that is), what should we expect from the sneaker industry? How will it change and how will it affect the brands and consumer? Will the sneakers, tennis shoes or basketball shoes industry ever be the same? Here are a few things we feel will change in the sneakers industry once this pandemic is over.
Changes Will Be Made In The Way We Shop (In Person)
Once physical stores are allowed to once again open their doors for business, the way we are used to shopping in person will most likely be accompanied by some changes. We assume that the number of people allowed in a store will be drastically cut to a number that’s more social distance-appropriate, right?
We also assume that masks will now be a requirement when entering these stores. In other words, no shirt, no shoes and now no masks, equals no service. We wouldn’t even be surprised if stores will now require you to set up an appointment to visit their stores moving forward. By doing this, it limits the amount of people allowed in the store at a certain time. What about dressing rooms and trying on clothes and shoes? Do you think there will be changes in how that is handled as well? Don’t bet against it is all we’re saying.
Sneaker Brands May End Up Dropping Less Sneaker Releases
Every single sneaker brand is being affected financially by this pandemic. Shoes are not selling at a fraction of the rate that they were just a few months ago. If supply is high and demand is low, it’s almost certain that brands will no longer be releasing shoes at the same rate or quantity. Take for example Jordan Brand.
We’re used to seeing the Jumpman drop a new sneaker every single Saturday. Although they may still continue doing that, the amount of units per release are sure to dwindle a bit, don’t you think? Although you’d hate to see it, we would not be surprised if some of these smaller sneaker brands don’t survive this pandemic. If sneaker brand “A” was only selling an “X” amount of sneakers before this pandemic, and now they’re selling just a fraction of “X”, how can they manage to stay in business when profits are slimmer than ever before? It makes no financial sense to keep setting up shop.
Expect Less Sneaker Collaborations Moving Forward
It seems like every major sneaker brand has been going heavy on collaborations these past couple of years. After the pandemic comes to an end, money will be tighter than ever. There won’t be as much money going around for special projects such as collaborations. That said, collaborations will still be a thing, they will still be highly coveted, but don’t expect to see anything close to the amount of collaborations we were used to seeing before COVID-19.
Brands Will Be More Selective With Their Influencers And Ambassadors
It seems like every other major celebrity has a sneaker deal nowadays, right? From your favorite rapper or singer, to IG influencers, more likely than not, these people got some kind of deal that has sneaker brands paying them for their services. Sneaker brands will have smaller budgets to work with moving forward. That means that the amount of people they are able to sign as influencers and brand ambassadors will substantially decrease in size. Not only that, but the money given to these faces of the brand will also be less. Don’t be surprised if certain influencers that are reppin’ such and such brand in 2019-2020, are no longer doing so in 2021.
In conclusion, the only constant in life is change. The sneaker industry will without a doubt undergo some major changes moving forward. That said, life will eventually go back to normal. Soon enough people will once again be working, spending money while living and enjoying life. When that day comes, the sneaker industry will recover and will be back better than ever.
