Steve Madden shoppers see deeper discounts as shoe prices climb

Finding a good deal on shoes is becoming increasingly important for shoppers, particularly as the holiday season approaches.

Whether it’s boots for colder weather, heels for holiday parties, or sneakers for everyday wear, shoppers face higher prices as they decide which purchases are worth making.

According to Circana’s Nov. 2 report, U.S. footwear sales remained flat in dollar terms during the third quarter of 2026, even as the number of pairs sold declined by a mid-single-digit percentage.

Higher average prices helped offset this decline, suggesting that shoppers are becoming more selective about their purchases rather than abandoning the category altogether.

This is where Steve Madden comes in. The New York-based fashion footwear brand is known for offering trend-driven styles at prices below those of traditional luxury designers.

While the company’s online popularity remains strong, new research suggests its shoppers are encountering more discounted merchandise, even as footwear prices continue to rise.

Steve Madden footwear discounts increase as prices rise

According to a UBS Evidence Lab report shared with TheStreet, the average listed price of a Steve Madden footwear item on its U.S. website was approximately $97 in September 2026, up 2% from a year earlier.

However, the research also found that the brand was offering deeper discounts.

Nearly half (49.6%) of Steve Madden’s U.S. direct-channel footwear assortment was discounted in September, up 1.75 percentage points from the previous year.

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The findings suggest shoppers were seeing more opportunities to purchase discounted shoes, even as average listed prices increased. And this is a notable shift from earlier in the year.

In its second-quarter results, Steve Madden said the company’s direct-to-consumer business benefited from higher average selling prices and reduced promotional activity. The company had previously increased prices, partly in response to tariffs, making its ability to maintain demand at higher price points particularly important.

UBS also identified signs of slowing momentum in the brand’s U.S. direct-to-consumer business. Third-party observed-sales data showed year-over-year growth of approximately 39% in July, slowing to 8% in August and 4% in September.

At the same time, visits to Steve Madden’s U.S. website increased 43% year over year during the quarter, according to industry web traffic data cited by UBS.

The figures suggest the brand is attracting significant online attention, but that interest is not necessarily translating into final purchases.

Steve Madden offers big discounts ahead of the holidays.

ablokhin / Getty Images

Steve Madden turns to nostalgia

The company is continuously working to keep its products relevant as shoppers gravitate toward changing footwear trends. In August, Steve Madden introduced its fall 2026 “Ask Steve” campaign, drawing inspiration from New York fashion in the late 1990s and early 2000s.

The campaign features nostalgic styling, interactive shopping experiences, and a hotline that allows customers to seek advice for their footwear dilemmas. It also revisited some of the brand’s most recognizable design influences while promoting newer styles, including ballet flats, slouchy boots, and statement heels.

In an interview with Footwear News, founder Steve Madden explained that the campaign was not simply about revisiting past trends.

“We’re not trying to recreate the past,” Madden said.

The approach comes as consumers show greater interest in footwear that combines versatility with personal style.

Circana reported that although fashion footwear remained under pressure during the third quarter, ballet flats, pumps, and fashion flip-flops were among the categories that recorded growth.

Steve Madden has also expanded beyond its namesake brand through its portfolio of footwear and accessories labels. The company completed its acquisition of British fashion brand Kurt Geiger in May 2025, adding a business known for statement handbags and footwear.

Its portfolio also includes Dolce Vita, Betsey Johnson, and Carvela, giving the company access to shoppers across different fashion preferences and price points.

Among these, Kurt Geiger has emerged as an important growth opportunity, with UBS reporting continued demand for the brand’s Kensington handbags and an increase in online traffic.

Holiday shoppers have more reasons to wait for discounts

With the holidays approaching, consumers are encouraged to purchase rather than wait for better deals.

According to the National Retail Federation’s 2026 holiday shopping survey, 64% of consumers said they were likely to wait until Thanksgiving weekend to complete most of their holiday shopping.

Sales and discounts were the most frequently cited factors influencing where consumers planned to shop, selected by 56% of respondents. That could make pricing and promotional offers increasingly important for Steve Madden.

The company’s official promotions page currently advertises 20% off a first order for new SM Pass members, along with discounts for students, teachers, military personnel, medical workers, and other eligible shoppers. Its loyalty program also offers rewards, early access to certain sale events, and exclusive promotions.

The retailer is promoting holiday shopping collections featuring boots, heels, handbags, and gifts across different price ranges, although it has not confirmed a specific new Black Friday promotion.

Circana expects footwear sales to remain relatively stable during the holiday season, with purchasing activity concentrated around major promotional events such as Black Friday and Cyber Monday.

For Steve Madden, the next indication of how shoppers are responding will come on Nov. 5, when the company releases its third-quarter results.

Those results could offer more insight into whether its refreshed marketing, expanding brand portfolio, and promotional strategy are helping sustain demand as consumers become more cautious about discretionary purchases.