The first sneaker ever was created in the 19th century by Wait Webster. Since then, thousands of sneaker brands have entered this market and re-invented sneakers over and over. In 2020, the global sneaker market’s revenue was estimated at more than 70 billion U.S. dollars and is projected to reach 102 billion dollars by 2025.
By definition, a sneaker is just a shoe with pliable rubber sore, designed for casual athletic activities. However, generations after generation have reclaimed that product and rethought it to match their style and attitude. The current generations see sneakers as part of their identify and social status.
The sneaker market is without a doubt saturated. Sneakers are an essential product. They were created centuries ago and will most likely be existing thousands of years from now. All those years, how did customers make their choice? Research shoes that aesthetics and price are the main choice criteria for sneakers. However, in a saturated market, branding is the holy grail.
What role does brand play in the success of the sneaker industry ? How does these brands keep re-inventing such a basic product such as sneakers, to increase the global revenue by 30 billion in the next 5 years ? How do these brands sell in a saturated market ?
Our blog will try to answer these questions, by analyzing the branding strategy of 5 sneaker brands: Nike, Adidas, Asics, VEJA and Converse.
These brands have a very different positioning in the market. They all have their strengths and weaknesses. VEJA values sustainability and ethics, Nike and Adidas are focused on innovation, Asics puts performance first, and Converse is all about fun. In this blog, we’ll cover every aspect of branding: storytelling, advertising, innovation, customer experience, social media impact, brand assets, etc.
You’ll also read about trends impacting the sneakers market such as sustainability, ethics, collaborations, or even scarcity marketing.
Enjoy the run!
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