Store closures in the first half of 2020 and implemented restrictions once bricks-and-mortar outlets resumed operations heavily impacted demand for hosiery. Despite the greater share gain and lower sales declines by private label, mostly due to continued operations by major supermarkets and discounters during the initial lockdown period, both sheer and non-sheer hosiery experienced a notable drop in sales and less enthusiasm to purchase these products further into the year.
As consumers spent more time at home in a generalised cocooning trend during the pandemic, and socialising reached low levels across the country in different phases of the year, purchases of sheer hosiery dropped significantly. While some consumers opted to delay or cancel purchases, others shifted towards non-sheer options which better suited their new reality where relaxation and comfort was highly valued.
While most hosiery brands experienced notable declines due to the market conditions and various trends noted over the year, two areas of hosiery showed relatively better results. Due to the exemption during the lockdowns given to grocery retailers such as supermarkets and discounters which permitted them to remain in operation, private label hosiery from retailers such as Lidl and Aldi registered below average value declines compared to the double-digit drops of major brands.
Demand for hosiery is expected to improve from 2021, despite the likelihood that the year will continue to be characterised by major shopping disruptions and lower footfall compared to 2019 throughout the year. However, if store-based non-essential retailers across the country are permitted to be fully operational without interruption in 2021, it will drive higher volume and value sales when compared to 2020.
Hosiery is expected to fully recover and surpass pre-pandemic levels in terms of both volume and value sales (at constant 2020 prices) by 2023. Even though the rebound in 2021 will be strong, particularly for sheer hosiery, it will take a further two years to fully recover.
Whenever there are disruptions in consumption and occasionally suspension of shopping as occurred in Germany for many consumers throughout 2020, the chance that they will shift brands and upgrade, or downgrade in price range is particularly high. Therefore, it is important for players to display products that are in line with consumers’ preferences and establish themselves in a new market competitive balance.
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Understand the latest market trends and future growth opportunities for the Hosiery industry in Germany with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Hosiery research and analysis database.
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