Crocs, Gucci and Nike are the top three brands for women who want a women’s-focused footwear lineup, according to a new report from Brand Finance.
The report found that women between the ages of 20 and 44 make up the largest segment of footwear buyers, and while women who are more financially secure are more likely to choose Crocs than Gucci, the two brands have strong followings.
As women’s footwear continues to become more mainstream, consumers want something more feminine and fashionable than just plain ol’ sneakers.
As a result, women are increasingly turning to designer shoes for a deeper look, according the report, which found that brands such as Gucci have made great strides in the past two decades.
“The market is changing, and women are becoming more comfortable wearing more feminine footwear,” said Danica Kukla, senior editor of Brand Finance, in a press release.
“This shift has been accompanied by the rise of high-end brands such Asics and Clarks, as well as the launch of a new trend: casual sneakers.”
The report finds that women in the U.S. are more than twice as likely to be buyers of women’s shoes than men, with brands like Adidas, Guilmein and Nike leading the way.
Crocs is the top-selling brand in the United States for women, followed by Nike and Adidas, with a combined annual sales of $11.2 billion.
As for the top four brands for men, Nike, Guillé and the Gap all had annual sales above $1 billion, but Gap and Nike were not included in the report.
Nike, for its part, saw its sales climb to $5.6 billion in the first quarter of this year.
Gucci also had strong sales growth last year, according Brand Finance’s report.
“We think it’s fair to say that brands that appeal to a broad cross-section of the American market, both men and women, will continue to dominate this segment for a long time to come,” said Kuklaf.
While women may be choosing casual shoes, the report also finds that men are more willing to spend on luxury items such as watches, jewelry and cars.
“Our research shows that men, in general, are much more willing than women to spend money on luxury goods,” Kuklas said.
“That’s because men tend to be more risk-averse, and they want to be able to wear what they want with no strings attached.”
According to the report’s findings, women who shop at retailers like Walmart and Target are more comfortable spending on premium goods like watches and cars than men.
This is likely due to the fact that women are more accustomed to spending money on clothes, and brands are more selective when it comes to the types of shoes they want.
While it is likely that more women are purchasing luxury brands, it also is possible that women might be purchasing them as part of a larger trend in the market.
For example, while the majority of women who shopped at Target said they would shop at a men’s brand, only 29 percent of men said they’d shop at an upscale store.
While this is not a major change, it could indicate a shift in the consumer habits of the two genders.
While the report does not quantify the trend, it does suggest that women will increasingly shop at upscale retailers and will spend more money on premium items than men on the same categories.
“It’s also possible that consumers who have grown used to the way women’s clothing has traditionally been dressed have a different outlook when it come to women’s high-fashion fashion,” Kugla said.