What if I told you there was a $5.6 billion industry that had experienced healthy sales growth over the last three years yet still had ample opportunity to connect with an underserved market segment? Interested?

Good. As many brands have recently started doing, you should also be very interested in adding custom socks to the inventory of your specialty boutique, gift store, or e-retailer.

According to NPD Group, which provides market information and sale tracking for a number of industries, sock sales totaled $5.6 billion in the 12 months ending August 2014. That marked a 2 percent increase from the previous 12 months, following growth rates of 8 percent in 2013 and 5 percent in 2012.

Many sock aficionados are willing to pay up to $20 for a pair of socks, making them a high-margin item.

According to NPD, “Men are driving the growth in this category because over the past few years, socks have become yet another outlet for expressing the extra splash of pattern and color they seek. It only seems appropriate for them to pair their colorful oxfords and outfits with matching socks.”

Women, on the other hand, are not purchasing nearly as many socks as men, largely because they have many options for feet coverings. But NPD said there’s a potentially lucrative opportunity for a boutique or retailer who can excite women about socks.

“Higher priced socks have become the new normal for men, whereas the women’s market seems to be a missed opportunity, an uncommon situation for the saturated women’s retail market to face,” wrote an NPD analyst. “Retailers and manufacturers should find ways to reinvigorate this category for women by setting a new fashion statement, one that treats socks as an accessory, something special, and not a basic commodity.”

One way to do that is creating your own line of custom socks that appeals to your customers. Using a supplier like EVERSOX, you can create a unique design with many choices in color, material, style and length.

So if you’re a retailer who sells men’s apparel, socks are a sure winner to add to your line. If you appeal mostly to women, you have an opportunity to create demand for a unique high-margin product.

About the author

EVERSOX is a worldwide supplier of custom branded socks for businesses, retailers, and promotional products distributors — with over 10,000 designs manufactured & 100 major brands served since 2010.