Hosiery recorded steep sales declines during 2020 as the negative impact of the COVID-19 pandemic hit demand hard. Hosiery is often an impulse purchase and thus sales suffered due to the very conservative approach to spending that emerged among the population of Colombia as the COVID-10 pandemic took its toll on the country’s economy.
Sheer hosiery registered a worse performance than non-sheer hosiery in 2020 as the strict adherence to the principles of home seclusion and social distancing that prevailed during the year significantly reduced the opportunities for women to wear sheer hosiery. A major factor to take into consideration here is the dramatic shift seen towards working from home among the country’s white-collar professionals, service industry personnel and office workers, which meant that far fewer women were required to present themselves at the office every morning with a smart and professional appearance.
Non-sheer hosiery registered a slightly better performance than sheer hosiery in 2020 and this was linked mainly to the increased interest in taking physical exercise among the Colombian population during the year. One of the major social impacts of the COVID-19 pandemic has been a sharpening of the focus of Colombian people on the importance of remaining healthy and active in order to build immunity and minimise the chances of contracting a serious case of COVID-19.
Non-sheer hosiery is expected to register a much stronger performance than sheer hosiery over the forecast period. Non-sheer hosiery is a category of products that are much more likely to be considered essential for daily wear than sheer hosiery.
Another factor that is expected to benefit sales of non-sheer hosiery during the forecast period is the increasing interest among consumers in decorative styles of socks that can add colour or playfulness to outfits. In particular, socks for women are increasingly likely to feature bold colours and interesting designs, rather than being plain items in single drab colours such as black, white, grey or beige, although men’s socks are also expected to increasingly feature stripes, patterns and different colours.
In Colombia, hosiery has traditionally been a category in which sales are dominated by basic products sold in high volumes at low cost. However, the trend towards more interesting and better designed hosiery mentioned above is likely to result in the entry of new players as brands and companies seeking to cash in on rising demand for more elaborate designs that offer better margins in both sheer hosiery and non-sheer hosiery.
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Understand the latest market trends and future growth opportunities for the Hosiery industry in Colombia 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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This report originates from Passport, our Hosiery research and analysis database.
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