Sportswear continued to outperform the overall industry in 2022, but a more challenging environment over the forecast period calls brands to shift their message towards wellness for growth opportunities.Sportswear brands should understand the renewed definition of wellness, which now goes beyond oneself and includes consumers’ communities and the planet, especially for younger consumers. Digital transformation has also reached wellness, challenging brands to communicate and engage with consumers
This report comes in PPT.
Boosted by the pandemic, casualisation and wellness trends favoured sportswear growth, and although these trends are set to continue, a challenging macro environment will slow down growth over the forecast. Consumers’ desire to be healthy will be a key driver for sportswear brands as active lifestyles - and sports - are key elements for this purpose.
A more holistic approach to health brings opportunities for sports companies and brands, not only for product design but also to accompany consumers throughout their wellness journey. Consumers are willing to proactively take charge of their own health by changing their habits, from nutrition, to preventative health, to exercising, wellness is now embedded in their lifestyles.
The pandemic has increased consumers’ awareness about the importance of being active, but not all consumers have the option to exercise as differences remain across consumer segments. Sportswear brands can play an active role in helping underserved consumers to improve their physical and mental health by making exercising accessible to them.
Consumers’ understanding of wellness is about their health and self-care, but also about how to engage with the world around them, and how their actions impact others. As a consequence, they choose companies and brands that are aligned to their values, and scrutinise closely sustainability and DEI claims.
Opportunities lie ahead for sportswear brands accompanying consumers on their digital journey to wellness. As consumers’ busy lifestyles left them with no spare time to dedicate to their self-care, the convenience and immediacy of digital health are key factors for the former’s development. The rise of health tracking technologies exemplifies this trend.
Apparel is the aggregation of clothing and footwear. This dataset covers retail sales of apparel through both store-based retailers and non-store retailers. Excludes black market sales (i.e. untaxed, generated within informal retailing)and duty free sales (travel retail). Items must be new when sold to the consumer; second-hand/used items are excluded. Antique and/or vintage clothing and footwear is also excluded.
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