Although sportswear suffered from closure of non-essential retail and lack of sporting events in 2020, the decline in sales was mitigated to some extent by a boom in running and cycling activities as Hungarians sought to improve their health and wellbeing during the pandemic. However, there were some issues with stock, which affected sales in sports-inspired apparel.
Tízpróba Magyarország’s growth through its Decathlon chain enabled the company to maintain its lead in sportswear in 2020, albeit with a reduced share. Decathlon benefited from the continuous expansion of its retail network in Hungary over the review period, as well as its wide selection of brands and products, not only in sportswear but also in sports equipment, which attracts a large number of consumers from every age group.
Global companies Nike Inc, adidas Budapest and Puma Czech Republic retained their respective leading positions in sports footwear in 2020, but all lost some share due to lockdown measures and increased price sensitivity among consumers. The Eur/HuF exchange rates negatively affected all imported products, which, together with the fact that global brands usually do not place a great deal of focus on the Hungarian market when it comes to marketing, hindered their performance.
As the economy recovers and life returns to normal in Hungary over the forecast period, outdoor sports activities such as running, cycling, Nordic walking and hiking will increase in popularity, which will see demand for outdoor apparel and performance apparel rise; however, this will be to a lesser extent than sports-inspired apparel, which will continue to appeal to a wider range of consumers.
Although domestic retail has been deeply affected by the economic effects of the COVID-19 pandemic, one of the main sports warehouse chains, Hervis, intends to press ahead with its business expansion plans. The company did not need to reduce its headcount or wages in 2020, and it now has 30 sportswear and sports equipment stores in Hungary and expects to develop more over the next two years.
An increased focus on online channels for sales in sportswear apparel and footwear as well as in-home fitness activities will boost current retail value and volume sales in sportswear in the future. The traditional gym environment became virtual in 2020, and this will continue across the forecast period even when gym facilities resume normal business, as home gym workouts offer busy consumers greater convenience and affordability.
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Understand the latest market trends and future growth opportunities for the Sportswear industry in Hungary 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 Sportswear research and analysis database.
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