It's all about comfort over fashion in 2020, apparently.
The year has been full of unexpected turns, but it's no surprise that Crocs, Inc. is experiencing strong sales this year. Known for its versatile and cushioned clogs, Crocs is a clear go-to choice for comfort.
Crocs began in 2002 in Boulder, Colorado, and now the unique clogs are sold in more than 90 countries worldwide. And despite having been on the market for nearly 20 years, Crocs is not slowing down in the slightest. A September 2020 press release included third-quarter projections and an extremely favorable outlook for the brand in 2021 and beyond.
"As a brand, we have proven resilient in the face of adversity and are emerging from the COVID-19 crisis with tremendous optimism," said Andrew Rees, President and Chief Executive Officer. "We have experienced exceptional consumer demand and strong sell throughs. As a result, we expect revenue growth of approximately 10% in the third quarter and anticipate our business continuing to strengthen. We remain focused on setting ourselves up for a successful 2021 and are confident in our ability to deliver sustainable, profitable growth for years to come."
What's actually fairly interesting is that, in direct contrast to the increase in sales of Crocs, sales of activewear and athletic footwear have declined in 2020, according to The NPD Group.
"While the gain in June was a relief, it was not enough to offset the earlier, weak results," writes The NPD Group. "Combined, athletic footwear sales in the first half declined in the low teens compared to 2019, across the men’s, women’s, and kids’ markets."
Crocs launched a Come As You Are campaign, in 2020, that conveys "expressing yourself and being comfortable are not mutually exclusive." This emphasis is timed perfectly for the increased comfortable clothing and footwear while people are staying safer at home.
What is your go-to quarantine footwear? Are you a fan of Crocs? Why or why not? Tell us more in the comments below.