Time for true confessions: Who got (or gave) socks for Christmas? And who was happy about it? Don’t be shy – raise your hand with pride.
Of course, when we think back to when we were small children, one of the most dreaded gift was SOCKS! No kid wants socks – they want TOYS! But is that still true as an adult? Are we more willing to accept socks as a gift of love?
Well, even if it’s not the most-wished-for gift for Christmas, socks are nonetheless a top gift at the holidays, accounting for nearly a third of all apparel items purchased in the fourth quarter. Market research firm Circana expected socks to outperform other clothing purchases. For example, Smartwool sells 2 ½ times more socks in November and December than the other months of the year; last year three-quarters of all socks sold during the year were purchases in the same months.
Winter is (no surprise) a top season for sock purchases. Not only do our feet need warmth, sock sizing is pretty easy to guess, as well as being an affordable purchase. Socks can be (ahem) stocking stuffers, a part of a gift basket, or an impulse buy. Even the traditional advent calendars can come stuffed with 24 days of socks.
According to Statista.com, the market for socks is expected to be more than $14 billion worldwide in 2024, with annual growth of 2.7%. That’s a pretty flat rate, but it is very consistent year-to-year, and socks are one item that routinely wear out and needs replacement.
While the traditional white-only-athletic socks are still popular gifts, now consumers can buy funny socks with foods, hobbies, pets, bright colors, unique patterns, and more.
Are your feet warm enough?
Group Activities and Discussion Questions:
- Poll students about Christmas gifts that they gave and received.
- Who got socks? Who gave socks? What was the response?
- Show video: https://www.cnn.com/videos/business/2023/12/29/exp-happy-socks-ceo-live-12293pseg2-cnni-business.cnn
- Show various sock websites such as Happy Socks: https://www.happysocks.com/us
- Bombas socks: https://shop.bombas.com/
- Socksmith socks: https://www.socksmith.com/
- Amazon socks: https://www.amazon.com/novelty-socks/s?k=novelty+socks
- Have students research the sock market. An example is Statista: https://www.statista.com/outlook/cmo/apparel/men-s-apparel/socks/worldwide#price
- Divide students into teams. Have each team select a theme for socks and develop a unique sock, along with a marketing plan, paying particular attention into the timing of sales and distribution opportunities.
Source: Fung, E. (24 December 2023). The item that’s on Christmas lists every year – and some don’t like it. Wall Street Journal; Meyer, A. (26 December 2023). Socks for Christmas? Happy Socks’ CEO explains why it’s such a common holiday gift. CNN (Video).
