Pace setters

In running, pace setters can also be trend setters. Running has grown in popularity over the past decade, driven by awareness of physical and mental benefits. Accessibility and affordability played key roles as well: all you really need to run is a pair of athletic shoes. Athletic footwear sales generated USD 125 billion in 2021. But only 25% of all athletic shoes are used for sports, making it difficult to assess which brands are successful among runners.

New Yorkers have long been considered trend setters, and Morgan Stanley recently surveyed Central Park runners hoping to find brands with future momentum in the US. The results reveal a fragmented market, easily disrupted by newcomers, such as Hoka and On Running. A similar survey in Robeco’s Zurich office showed the dominance of Asics, despite On Running playing on its home turf. Perhaps the Swiss tend to follow rather than set trends?

Source: Morgan Stanley, Robeco Zurich,  December 2023.