The sneakers and streetwear market has grown into a multi-billion dollar industry around the world. With USD $185 billion in sales, it makes up about 10% of the global apparel and footwear market.
Though heavily shaped by American influences, streetwear is growing in prominence in the land down under. In 2017, the Australian footwear market was valued at USD$3.2 billion, growing at a rate of 7.1% year on year.
With not only the presence of big international brands but also smaller grassroot labels, the sneaker and streetwear landscape in Australia is diverse and brimming with potential. High demand and a growing financially independent young population contribute to 35.6% projected user penetration rates by 2024, with the average revenue per user (ARPU) expected to be US$198.