Where Sneakers and Streetwear Stand in 2026: Lyst Data, Nike’s Slide and the Jordan Retro Cuts

Sneakers and streetwear in 2026 are no longer what drives fashion heat. Neither Nike, Jordan nor Adidas made the top 20 of the Lyst Index in Q1 or Q2 2026, which was led by Chanel both times. On October 1, Nike CEO Elliott Hill said the company has been "oversupplying" Jordan retros and will cut their volume. We think scarcity can help, but only if Nike rebuilds the hype that used to come with it.

TL;DR:

• Fashion heat: zero sneaker brands in Lyst's top 20 for Q1 or Q2 2026, per Lyst Q1 and Lyst Q2.
• Nike footwear: $6.95 billion in the quarter to August 31, down 6%, according to Nike's Q1 fiscal 2027 release.
• Jordan Brand: 13% of Nike's business, with revenue down mid-teens, per Hill on the earnings call.
• Our count: across both quarters, only 1 of the 7 shoes in Lyst's top 10 product lists was a sneaker.

What does the Lyst Index say about sneakers in 2026?

The Lyst Index is a quarterly ranking of the hottest fashion brands and products, built from 160 million annual Lyst shoppers plus social, search and AI discovery signals, according to Lyst's methodology notes. In 2026, it has been a luxury story, not a sneaker one.

The only sneaker brand in either top 10 product list was Village PM, a small label. Nike and Jordan didn't appear anywhere in either ranking.

Adidas held on through apparel, not shoes. Both of its entries were football-style tops, which tracks with the World Cup year. New Balance showed up only once, through a Miu Miu collaboration Lyst says Coco Gauff wore at Wimbledon.

How did Q1 and Q2 compare for footwear?

Footwear in the Lyst top 10 moved from dress shoes in Q1 to summer slip-ons in Q2, and sneakers lost ground both quarters. Here's every shoe that made the hottest products lists, per Lyst Q1 and Lyst Q2:

Our analysis of both reports puts it plainly: one sneaker out of three shoes in Q1, none out of four in Q2, and 1 of 7 (14%) across the half by our count. Lyst ties Q2 to heatwaves and resort dressing, and Q1 to '90s minimalism. Neither trend runs through a retro basketball shoe.

Is Adidas winning, or is sportswear apparel winning?

Adidas is growing, but its growth in 2026 is coming from clothes, not sneakers. Its footwear sales slowed in each quarter while apparel boomed, according to Adidas's own Q2 release and World Footwear's Q1 report:

In its Q2 release, Adidas said lifestyle footwear was held back by a promotional market. CEO Bjørn Gulden described lifestyle as "under pressure due to heavy discounting at many retailers." Running and training shoes carried footwear instead.

So the terrace shoe run isn't over, but it's cooling, and the Samba is now selling through spin-offs like the Samba Jane and Samba Mule. For resellers, that's the usual sign a silhouette has gone mainstream.

How bad is Nike's slide in 2026?

Nike's slide is the worst stretch in its modern history. Shares traded around $33.34 after the October 1 earnings report, down 47.4% year to date, according to Barchart via Webull. Against the $179 peak in 2021 that 24/7 Wall St. cites, that's about 81% lower by our math.

Here's the quarter that got it there, from Nike's release:

Nike also guided fiscal 2027 revenue down by high single digits. Footwear, the part sneakerheads care about, fell harder than anything except China and Converse. Apparel was the only line that grew.

Nike vs Adidas: who's handling 2026 better?

Nike vs Adidas in 2026 is a story of one brand shrinking and one growing, though neither is winning on lifestyle sneakers. Here's our side-by-side from each company's latest results (Nike, Adidas):

The quarters don't line up exactly, so read it as direction, not a scorecard. The pattern still holds: both brands' growth is coming from performance and apparel, while lifestyle sneakers stall.

The difference is momentum. Adidas has a World Cup tailwind and raised its full-year guidance, while Nike guided revenue down again. For resellers, neither brand's lifestyle line is a safe bet right now.

What happened when Nike cut Dunk supply?

The Dunk is the closest case study for what fewer Jordan retros could look like. On the October 1 call, Hill said Nike "reduced revenue from the Dunk by nearly 50% in the quarter," which cost Sportswear roughly $200 million.

Nike took that hit on purpose. Hill pointed to the Air Force 1 as the model, saying it's "now driving a stable full-price business." In other words, Nike is trading volume for fewer markdowns.

For example, a $120 pair that sells at full price earns Nike more over time than two pairs cleared at 40% off ($72 each), once you count the damage discounting does to the brand. That's our illustration, not Nike's math, but it's the logic Hill described. The open question is whether demand comes back once the shelves thin out.

Is cutting Jordan retros a way for Nike to win back its status?

Cutting Jordan retros is Nike's bet that scarcity will bring the hype back. On the October 1 call, Hill said Nike has "been oversupplying our iconic retro product" and will "deliberately reduce the volume and frequency of specific Jordan Retro launches." Jordan is 13% of Nike's business, or about $1.46 billion this quarter by our math.

On the other hand, the bearish read is fair too. Jordan revenue fell by mid-teens even with plenty of supply, so the problem may be demand, not volume. And Lyst measures fashion heat, not sales, so a missing ranking doesn't mean nobody's buying. Hill also said Nike running is up double digits, which shows the brand can still grow.

Scarcity works when demand is already there. Cutting supply on a shoe nobody's chasing just means fewer pairs on the clearance rack.

Our take: cutting supply is necessary but not enough. The Lyst data shows sneakers have lost cultural heat, and fewer pairs won't fix that alone. Nike needs the storytelling and quality to make a retro feel like an event again.

What do fewer Jordan retros mean for resellers?

Fewer Jordan retros should mean better resale margins on the pairs that do drop, because tighter supply is exactly what pushes prices above retail. The timing isn't clear yet. Sneaker News expects the cuts to land in 2027, but Nike hasn't named models or volumes.

For us, the play is selective. Here's what you should do now:

• Track retro volumes, not just dates. Lower stock numbers on a release are the first sign the cuts have started.
• Skip weak drops. Fewer pairs per release make every task count, so save resources for retros with real demand.
• Check resale before you run. Try comparing last month's sales against retail before building tasks for any pair.

If you're setting up for 2027, NikeShoeBot's sneaker bot runs on SNKRS and Shopify, and our guide to where NikeShoeBot works lists every supported site and region. For a wider look, see our roundup of the best sneaker bots.

Our verdict: can scarcity win Jordan back its status?

Our verdict is a cautious yes, with a condition. Cutting Jordan retro volume is the right move, because the Dunk and Air Force 1 show Nike can trade volume for full-price sales. But scarcity only creates hype when people already want the shoe.

Right now, the Lyst data says they don't, at least not in fashion circles. Sneakers had 1 of 7 shoe spots in the top 10 product lists across the first half of 2026 by our count, and none in Q2. Nike has to make retros feel like events again through storytelling, materials and collaborations.

We'd watch two things into 2027: whether Jordan revenue stops falling, and whether any Jordan or Nike product shows up in a Lyst top 10 again. If both happen, the scarcity bet worked.

What is the Lyst Index?

It's a quarterly ranking of the hottest fashion brands and products from the shopping platform Lyst, based on searches, sales and social, editorial and AI discovery data. Chanel ranked first in both Q1 and Q2.

Is Nike stopping Jordan retros?

No. Hill said Nike will reduce the volume and frequency of specific retro launches, not end them. Nike hasn't said which models or how many pairs.