Over the course of 2020, sales of hosiery dropped substantially, although the sales declines recorded in the category were not as severe as what was seen in most other categories of apparel. The main reason for the very negative performance registered in hosiery during 2020 was the government-mandated closure of all schools for much of the year, a key measure of official efforts to control the spread of the COVID-19 pandemic among the Indonesian population.
As mentioned above, the sales declines registered in hosiery during 2020 were less severe than what was seen in many other categories of apparel. One of the key reasons for this was the increasing focus on exercise and physical activity as part of a healthy lifestyle.
Sales of sheer hosiery remained negligible in 2020 as consumer demand for these products remains marginal. The main reason for the lack of enthusiasm for sheer hosiery among Indonesian women is the warm weather that prevails in all parts of the country throughout the year.
During the forecast period, hosiery is expected to register one of the fastest recoveries among categories of apparel from the negative impact of the COVID-19 pandemic. Sales are expected to bounce back as soon as schools reopen on a permanent basis and this is a reflection of the vitally important role that school pupils play in supporting overall sales of hosiery.
The very strong growth recorded in sales of apparel via e-commerce that were seen in Indonesia during 2020 is expected to foreshadow a very strong performance for e-commerce in the distribution of apparel during the forecast period as well. Hosiery is very likely to be among the categories of apparel most popular for online purchases and this is linked to the fact that hosiery generally does not need to be tried on before consumers are willing to commit to a purchase.
The adverse economic environment that emerged over the course of 2020 due to the COVID-19 pandemic has resulted in even higher levels of price sensitivity among the Indonesian population. While several years of strong economic growth supported rising consumer confidence throughout the first four years of the review period, 2020 saw consumer sentiment significantly eroded by the interruptions caused to key sectors of the national economy by the COVID-19 situation.
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Understand the latest market trends and future growth opportunities for the Hosiery industry in Indonesia 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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