As with most areas of apparel, the lockdown and home seclusion took their toll on sales of hosiery, with consumers lacking the incentive to buy new products. In particular, with many consumers switching to working from home following the outbreak of COVID-19, the demand for formalwear, including sheer hosiery, dropped sharply.
Austrian consumers are increasingly looking for comfort in their life. This is leading to a change in the clothing and shoes they wear, with trainers and other sports-inspired footwear becoming popular and expected to remain the top trend in the short to medium term, boosting sales of sports socks.
With prevailing economic uncertainty due to the pandemic, as well as home seclusion, which offered few opportunities to show off high-end hosiery, many consumers have been opting for basic, cheap products. KiK Textilien therefore saw strong retail value growth in Austria in 2021, increasing its share in this year.
Hosiery is a basic essential in most wardrobes, and as such, sales are expected to see solid growth throughout the forecast period. 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, with current value sales set to return to the pre-pandemic level as soon as 2022.
Women’s hosiery continues to be geared more towards disposability and fashion rather than function and longevity. However, the pandemic has intensified consumers’ awareness of the detrimental impact of consumption habits on the environment.
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. The 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.
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Understand the latest market trends and future growth opportunities for the Hosiery industry in Austria with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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Hosiery
This report originates from Passport, our Hosiery research and analysis database.
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