Basketball Shoe Industry projected to lose $500 million due to NBA lockout

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Source:
USAToday

Basketball shoe marketers such as Adidas, Nike, and national retailers such as Foot Locker, could lose up to $500 million in sales if the 2011-12 NBA season is wiped out, says Marshal Cohen, chief industry analyst at the worldwide market research company NPD Group. That’s roughly 25% of the $2 billion basketball sneaker market, Cohen said.
About 33% of all basketball shoes are purchased to play basketball, Cohen said. That leaves 67% of the sales from consumers going for the association with an endorser such as Nike’s LeBron James— or with the NBA itself, Cohen said.
“The impact would be huge,” he said. ” Out of sight, out of mind. If the players are not on the court, and the kids aren’t thinking about them, they’re not going out and getting their shoes.”
Nike is thinking along the same lines. One of their TV spots, which aired before halftime of Sunday night’s NFL game, is under the slogan “Basketballneverstops.” James andDallas Mavericks star forward Dirk Nowitzki are among the featured NBA players in action.
“Like all basketball fans, we look forward to the lockout being resolved,” Nike spokesman Brian Strong said. “But in the interim, we also know that basketball never stops. Through our campaign, we are celebrating the never-ending spirit of the game and the players who love it.”

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