Hosiery in Austria

2020 IMPACT

A bad year for hosiery as work and social arrangements disrupted

As with most areas of apparel, the lockdown and home seclusion took a heavy toll on sales of hosiery, with consumers lacking the incentive to buy new products. With many consumers switching to working from home following the outbreak of COVID-19 the demand for formalwear, including sheer hosiery, dropped sharply.

Products designed for comfort or sport attract greater interest

Within non-sheer hosiery it was products focused on comfort and warmth which fared better than formal hosiery designed for the workplace. Some consumers invested in slipper socks with non-slip soles to wear around the home when working or relaxing, with less need for footwear due to fewer trips outside the home.

Consumers look for cheaper options due to home seclusion

Hosiery is a fragmented category, with little change in this scenario in 2020. With prevailing economic uncertainty many consumers went for basic, cheap products.

RECOVERY AND OPPORTUNITIES

Resumption of work and social activities should support a quick recovery

Hosiery is a basic essential of most wardrobes and as such sales should see a sharp uptick in demand as restrictions are lifted. A return to the workplace will be vital to the recovery of sheer hosiery, with these products also likely to benefit from the lifting of restrictions on social gatherings.

New product development and innovation expected to influence the competitive landscape

There should be growth opportunities for established hosiery specialists over the forecast period, as well as for sports brands such as adidas, Under Armour and Nike, which should benefit from the growing focus on health and fitness. Competition is set to intensify in the coming years, however, as the large number of established players are joined by more e-commerce players seeking to expand their hosiery ranges to appeal to younger consumers with new colours, patterns and lengths to suit different outfits.

Sustainability and comfort seen as important factors heading into the forecast period

In line with a general trend across the fashion industry, there is likely to be a growing focus on sustainability when it comes to hosiery, with locally-produced products expected to win favour. Products marked as Made in the EU should also fare better, with some consumers having become concerned about production practices in other parts of the world with stories of workers being exploited.