Hosiery in South Africa

2021 DEVELOPMENTS

Hosiery sales continue to decline

Retail volume and current value sales for hosiery declined in both 2020 and 2021 in South Africa. With tough economic conditions, high unemployment rates, and the impact of the pandemic leading to home seclusion, non-essential purchases experienced a drop in demand.

A shift in working and social habits leads to demand for casual hosiery

Changes in lifestyles are taking place in South Africa as a result of the pandemic. Limited school attendance inhibited the growth of sheer tights and stockings since fewer replacements were needed due to disruptions to in-person learning.

Purchasing decisions continue to be driven by price

Price plays a significant role in the purchasing decisions of many South African consumers when it comes to hosiery. Towards the end of the review period, the focus shifted to price due to increasing financial constraints resulting from an unstable economy, which was further exacerbated by the pandemic.

PROSPECTS AND OPPORTUNITIES

Consumers will remain cautious, leading to further declines

Demand for hosiery is expected to further decline over the forecast period. Since many adults and children wear hosiery daily, it will remain an essential item of clothing, but local consumers will continue to use the same items for as long as they are able to before replacing them.

Growth of sheer hosiery will be hampered by remote working trend

Sheer hosiery is expected to continue to perform poorly, especially at the beginning of the forecast period. It is likely that some women will continue to work from home, which will hinder the recovery of this category.

High-priced and fashionable brands are expected to thrive

Hosiery is not expected to grow significantly in volume terms during the forecast period, but there may be growth opportunities for some players. Socks for Africa, for instance, experienced one of the slowest declines of branded players in hosiery towards the end of the review period.