As with most apparel categories, hosiery saw a strong decline in sales in Norway in 2020 as retail stores closed and consumers spent more time at home. Although both sheer and non-sheer hosiery registered declining sales, due to its more formal nature, sheer hosiery registered the largest decline as fewer Norwegians attended formal events and tended to work from home.
Modern grocery retailers accounted for a notably larger share of hosiery sales than in other apparel categories in 2020. Naturally, this resulted in grocery-orientated player Pierre Robert Group maintaining the top ranking within hosiery and increasing its value share.
The functionality/exercise trend, which was one of few trends driving value in hosiery prior to the pandemic, intensified in 2020 as consumers took ownership of their health and participated in outdoor activities more than ever before. The exercise trend boosted sales of sports socks, including no-show ankle socks, mid-length retro socks, and longer over-the-calf support or functional socks.
While hosiery will bounce back in 2021, it will continue to struggle with low visibility and a high degree of commodification. The lack of durability of many hosiery products will continue to limit value growth possibilities.
Sustainability is expected to become more relevant in hosiery over the forecast period. In response to the growing demand, manufacturers are expected to use more sustainable materials in their hosiery products, such as organic cotton and bamboo, and to emphasise these eco-credentials to consumers in order to add value and increase popularity among increasingly environmentally aware consumers.
The booming exercise trend will continue to drive demand for more sports-related and functional hosiery for the foreseeable future. In addition, niche hosiery/underwear brands such as Happy Socks and Change will continue to perform well and gain in value share.
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Understand the latest market trends and future growth opportunities for the Hosiery industry in Norway 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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