If men are going to be buying designer shoes in huge numbers, it will have to happen quickly.
The men’s fashion market is one of the fastest growing segments of the global economy, and as the global trend of more men wearing designer clothing continues, sales are expected to rise dramatically.
Men’s clothing and accessories sales in the U.S. are expected more than $8 billion this year, up 14% from last year, according to IHS Global Insight.
In contrast, men’s footwear sales are forecast to grow only 6% this year.
This year, women’s footwear is expected to be the fastest-growing segment, growing 13.5% from a year ago.
Women’s footwear will account for nearly a third of all footwear sales, but they are expected only to account for around 8% of all sales.
IHS estimates that men will account the lion’s share of footwear sales in 2025, up from 7.8%.
“The men’s market is going to grow dramatically, but the shoe industry is going down,” said IHS senior analyst Mark Schlissel.
Men have been buying fashion and footwear for more than 50 years, with the majority of men opting for casual shoes like casual pants, casual shoes, casual boots, and casual sneakers.
The rise in men’s shoe sales has been fueled by the popularity of the Apple Watch and the upcoming Apple Watch 2, which will allow men to track their step counts and activity.
While women’s shoe and apparel sales have continued to climb in recent years, men have been increasingly interested in men.
“The shoe market is growing, but women’s shoes are also growing at an incredibly fast pace,” said Schlissels CEO, Todd Bower.
“Men’s shoes and clothing are becoming more and more important for the future of the shoe and clothing industry.”
IHS forecasts that men’s shoes will account $2.6 trillion in sales in 2020, up 10% from this year’s $1.6trillion.
In the same time frame, men will earn $1 trillion, up 4% from the previous year.
“As men become more engaged in their day-to-day lives, their desire to be more fashion-forward will increase,” said Bower, noting that men are spending more money on fashion accessories than women.
“It’s not just a case of women wanting more clothes and shoes, but also women wanting to be seen as more fashionable,” he added.
In 2020, women will make up 38% of total U.K. fashion sales, up 2.5 percentage points from last week.
The number of women wearing designer shoes has also increased in recent months, increasing from 1.7 million in 2020 to 2.8 million in 2025.
“There’s been a tremendous increase in the demand for the new Apple Watch, and it’s certainly going to bring a whole new market to the men’s and women’s retailing,” said Lisa Miller, chief of retail research at Foot Locker, in a recent report.
“In a lot of ways, this is just another chapter in the shoe-driven revolution that we’re seeing,” she said.
“We’ve seen women’s fashion sales grow at an astonishing pace, but men are continuing to take over.
We’ll be watching closely to see how they respond.”
Men’s shoe, apparel, and accessory sales are projected to continue to rise, while women’s will continue to fall, according the IHS report.
Women have been in the forefront of fashion innovation, but their shoes have struggled to maintain traction with consumers in the past.
The shoe market has been a hot topic of discussion in recent weeks, with both Apple and Google CEO Sundar Pichai and fashion designer Dolce & Gabbana both voicing their concerns over the trend.
In recent months fashion designers have been speaking out on the subject, including Alexander McQueen, who said in February that men “shouldn’t be allowed to wear men’s underwear” and that men should be forced to wear designer clothing to be considered a man.
The trend has led to men wearing a range of men’s clothing items, from jeans to dresses to sneakers.
In February, men who wear designer shoes have been criticized for using the word “man,” while women who wear women’s clothing are labeled as “manly.”
But there has been no shortage of controversy over the growing trend.
Last week, Pichah, in an interview with Business Insider, said he believes the shoe market should be viewed as a new type of gender equality, pointing to a new trend among men, which he described as “gender-neutral footwear.”