Hosiery in Saudi Arabia

2020 IMPACT

Demand falls for hosiery as pandemic decimates sales and retailing opportunities

During 2020, all categories of hosiery experienced a sales decline due to the onset of the global pandemic. Consumers had to stay at home and had few opportunities to socialise.

Weather conditions limit category sales irrespective of the pandemic

Irrespective of the pandemic, the hot climate of Saudi Arabia, which has extreme summers, plays a huge role in determining the demand for hosiery, especially sheer hosiery. Sheer hosiery, which is generally worn when wearing dresses or skirts, can become uncomfortable during the hot summers in the country.

Casual trends support non-sheer hosiery as consumers seek comfort during lockdown and home seclusion

Prior to the onset of COVID-19, the trend in sneakers had been supporting the hosiery category in Saudi Arabia, as men wear sneakers even when wearing thobes, to give a trendy modern look even in the workplace. Furthermore, sportswear brands as well as other brands were providing new and comfortable designs.

RECOVERY AND OPPORTUNITIES

E-commerce gathers momentum offering convenience and lower prices, especially appealing to price-sensitive consumers in recovery from the pandemic

For those consumers who do not buy hosiery from markets, these products are available through a number of channels in Saudi Arabia, ranging from high-end outlets such as department stores to hypermarkets and apparel and footwear specialist retailers. However, given the closure of most of these outlets during lockdown in 2020, the growth e-commerce had been experiencing in the years prior to the pandemic is likely to gather further momentum.

Standalone hosiery retailers face financial stress and greater competition from modern grocery retailers

Prior to the onset of COVID-19, standalone apparel and footwear specialist retailers were growing, such as Socks collection, Penti, and Family Socks, which were expanding the number of their retail outlets and e-commerce sites. Sales of hosiery tend to be less affected by brand loyalty and more by convenience with purchases of hosiery generally made as and when needed, often as part of other shopping trips.

Casual and sports-inspired fashion impact hosiery particularly products for women

Casual and sports-inspired fashion is expected to impact hosiery during the forecast period driving growth. This will be supported by Saudis of different age groups and genders who will participate more in sports and leisure activities once the pandemic recedes and vaccines are rolled out around the world.