The sportswear segment is in its glory days,
benefitting from a need for comfort with more people at home and taking up
fitness activities following the outbreak of Covid across the globe.
The pandemic has forced a lifestyle shift which has
seen people spending significant amounts of time at home and prioritising
comfort and wellbeing.
But despite the transition from the height of the
pandemic to “the new normal”, consumers do not appear willing to ditch the
sweatpants and trainers in favour of more formal options, according to data
obtained by analytics and consulting firm GlobalData which says, if anything,
the way people dress even in the office now is becoming more relaxed –
retaining elements of formal wear such as shirts and trousers – but incorporating
casual, comfortable items such as trainers.
Between 2015 and 2019, sportswear’s share of the total
apparel market grew three percentage points to 21.8%.
And in 2020 – the year in which we witnessed retailers
across the globe shut down in a bid to curb the spread of the virus – while
apparel sales fell 19%, sportswear fell just 7%.
In a survey of 23,000 shoppers across 29 global
markets in January, GlobalData found shoppers are wearing sportswear “a couple
of times a week” which demonstrates its prevalence in their wardrobes.
Comfort is the most important factor among shoppers
when it comes to sportswear and it needs to be able to double up as athleisure
wear with cosy fabrics and flexible fits for wearing from the gym to around the
home.
Shoppers also indicated they are likely to trade up
for better made, longer-lasting items as they are being worn so regularly.
The growing sportswear/athleisure trend is something
retailers and brands are fast picking up on, with the likes of M&S, Asos,
Primark and Boohoo all launching sportswear ranges, and often, being able to
offer lower prices and trend-led styles when compared with dedicated sports
brands.
Casualisation is a long-term thing: Joggers, hoodies and leggings became wardrobe staples
during the Covid pandemic, but even now when socialisation is resuming,
shoppers have become accustomed to the comfort sportswear brings them and it
will be a go-to choice for many.
Outdoor opportunity: During the pandemic, many took staycations which
included hiking and walks. This is set to continue, and items like puffer coats
will continue to see accelerated growth. Fashion brands should partner
specialist outdoor clothing brands to leverage technical expertise such as the
collaboration that was seen between Gucci and North Face.
Direct to Consumer (DTC) channel: DTC offers brands greater control over strategy and
cost control. Brands such as Lululemon have primarily sold via its own channels
while Nike in recent years has prioritised
DTC. At the end of May 2021, DTC made up
38.7% of its brand revenue.
Apps for engagement: Apps that see brands offer incentives and allow for
consumer engagement are helping with brand loyalty. This could be anything from
running clubs to monitoring fitness activity which when logged offer points and
rewards in return.
Sustainability is King: And will be for the foreseeable. Brands are looking
to innovate around sustainability following the pandemic. Patagonia is one of
the pioneers in this, encouraging people not to buy new and use repair services
as advertised on its website. Other brands are trialling sustainable running
shoes such as ON Shoes where consumers wear the shoe until it is worn out and
then replace it with a new one. The scheme costs GBP25 a month. However, this
is a cost many consumers may not be ready to incur as sustainability concerns
are often outweighed by cost concerns.