The Streetwear Impact Report found that consumers in China and South Korea spend more on Streetwear each month, while Japanese consumers spend the most on average on individual Streetwear products.
Streetwear consumers care less about price than they do about coolness and authenticity.
The report, produced by HYPEBEAST and Strategy&, a PwC consultancy, provides a comprehensive, data-driven overview of the streetwear market, as well as consumer behaviour and preferences, and reveals how streetwear disrupts the fashion industry in multiple dimensions, from creative development to marketing and distribution.
The report attributed this to the overall pattern of the athletic shoe and shoe market
: a large number of niche brands in the athletic shoe market dominated by Nike, Adidas, Puma and others; There is constant change in styles and designs across the market, extreme versatility in athleisure footwear, and relative affordability in luxury apparel.
According to the Streetwear Influence Report, streetwear is not a fashion trend, but a fashion part of street pop culture that includes fashion, art and music. Whether or not the street sneaker remains a trend is not the point, streetwear as the mentality that underpins the rise of popular culture is here to stay.