Shoe Prices Rise in November

Welcome back to FN Daily, where we break down the biggest stories happening in footwear and retail.

Today, have the numbers for shoe prices in November and a report about Puma ending its sponsorship of the Israeli National Soccer Team. Plus, Strava taps a Nike vet as CEO.

Here's what you need to know.

Shoe Prices Rise Slightly in November as Men’s and Women’s Categories Show Increases

Shoe prices rose slightly in November in tandem with overall consumer retail prices, according to the latest data from the Footwear Distributors and Retailers of America (FDRA).

Last month, overall footwear prices rose a tepid 0.7 percent from a year earlier, the FDRA reported. Higher prices for men’s footwear, up 0.8 percent, and women’s shoes, up 1.6 percent, offset a 0.5 percent decline in children’s footwear prices in November.

And while shoe prices do seem to be moving in the wrong direction, FDRA noted that it does not see evidence to suggest retail footwear prices will go appreciably higher anytime soon.

What about broader inflation? This latest rise in footwear prices come at the same time the Bureau of Labor Statistics reported that overall retail prices increased 0.1 percent in November from the previous month. Prices were up 3.1 percent from the same month last year.

Strava Taps Nike Veteran Michael Martin as CEO

Strava has hired Nike and YouTube veteran Michael Martin as its next CEO.

Martin will assume the CEO role on Jan. 2, 2024, and will also join the fitness app company’s board of directors, Strava confirmed in a statement.

Martin currently serves as the GM of YouTube Shopping, and prior to that the technology veteran held several leadership roles at Nike. While at the athletic giant, with a career spanning five-plus years, Martin was a product leader responsible for its connected fitness portfolio including Nike Run Club, Nike Training Club, Nike Adapt and the Apple Watch Nike+.

Big picture: Martin joins as Strava plans to scale its product offering in 2024. Most recently, Strava rolled out in-app messaging at the start of the month and will soon debut the 2023 Year In Sport global initiative, which allows users to review their activity for the year.

Puma Will End Sponsorship of Israeli National Soccer Team in 2024

Puma will terminate its sponsorship of the Israeli Football Association (IFA) in 2024 as part of a decision made in 2022, prior to the start of Israel’s war with Hamas in October, the company said.

In a statement to FN, Puma said it “decided to implement its new fewer-bigger-better strategy” when it comes to sports marketing. This plan, as explained by Puma global director of brand and marketing Richard Teyssier in a blog post last week, means defining more clearly what creates value and excellence for the brand.

Puma said it would announce two newly signed national soccer teams later this month and in 2024. The company’s contract with Serbia will also expire in 2024.

The move comes as activist groups continue to call for a consumer boycott of Israel and Israeli products amid the conflict in Gaza.

Need more shoe news?

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• The Best Sneakers Releasing in December
• A Guide to Wearing Holiday Shoes This Season

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