Hosiery managed to maintain slow retail volume growth in most years of the review period, but in 2020 it turned to significant decline. Meanwhile, current value sales turned from strong growth to slight decline.
After the government imposed a lockdown to try and prevent the spread of COVID-19 in the country, this led to changes in consumers’ lifestyles. Tights and stockings are part of the school uniform, and the closure of schools during the lockdown therefore hampered growth as fewer replacement purchases were needed.
For many consumers in South Africa, price is the key factor in the purchasing decision when it comes to hosiery. The focus on price increased towards the end of the review period due to increasing financial constraints as a result of a poor economic performance, and this was exacerbated in 2020 by the further economic impact of the COVID-19 pandemic.
Moving forward, hosiery is set to continue to decline in retail volume terms, not only in 2021, but throughout the forecast period. However, current value sales are expected to return to growth from 2021 due to price rises.
Sheer hosiery is set to continue to see a poorer performance than non-sheer hosiery, especially at the beginning of the forecast period. Some women are likely to continue to work from home, which will hamper the recovery of this category.
Although hosiery is expected to struggle to achieve volume growth in the forecast period, there are likely to be opportunities for growth for some players. For instance, in the review period Socks for Africa saw one of the slowest declines by branded players in hosiery.
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Understand the latest market trends and future growth opportunities for the Hosiery industry in South Africa 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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