After seeing slow retail volume growth and more dynamic current value growth rates during most of the review period, sales of hosiery plummeted in 2020. Like all other apparel categories, sales were negatively impacted by the closure of non-essential retailers during the COVID-19 lockdown.
Although sheer hosiery saw the worst performance in 2020, with the strongest retail volume and current value declines, non-sheer hosiery was also negatively impacted by the COVID-19 lockdown and store closures. In addition, uncertainty was created by the pandemic, and in many cases disposable incomes fell due to job losses and wage cuts, which led consumers to prioritise spending on necessities.
Hosiery in Mexico maintained a highly fragmented competitive landscape in 2020, with no player holding a double-digit value share. Sales were dominated by very small players, included under “others”.
Hosiery is expected to see a rebound in its sales in both retail volume and current value terms in 2021, as the impacts of COVID-19 lessen. However, the category is predicted to take longer to recover than most others within apparel.
Unlike sheer hosiery, non-sheer hosiery is expected to see a more rapid recovery, with a return to the 2019 levels of volume and value sales by 2021/2022. This will be favoured by the availability of such products in a wide variety of channels, as well as by the casualisation of lifestyles, with some consumers switching from sheer to non-sheer hosiery.
With the better performance of non-sheer hosiery, players are likely to be more willing to invest in this category in the forecast period. In the review period there were an increasing variety of styles and colours offered by some producers of socks, which has transformed this wardrobe basic into more of a fashion statement.
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Understand the latest market trends and future growth opportunities for the Hosiery industry in Mexico 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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