Luxury consumption is more focused on experiencing sports and leisure apparel or will dominate the market
Luxury consumers will pay more attention to the consumer experience in the future, and believe that sports and leisure will have more impact on everyday wear, because "invisible leisure" has become more common. Euromonitor believes that sports and leisure growth will accelerate as sports and leisure have shifted from fashion trends to lifestyle choices for health-conscious consumers. Euromonitor recently held a briefing in London to share their views on the most dynamic atheisure in the industry. The negative report on sports and leisure has been enlarged. This category of products has been developed. To a new stage and will be further strengthened.
Although researchers believe that sports and leisure are equally dynamic in the future, Euromonitor also believes that sports and leisure need to make certain changes to adapt to the current trend.
Magdalena Kondej, director of clothing and footwear at Euromonitor, said that sports and leisure apparel (including sportswear, professional performance apparel and outdoor apparel) are gradually shifting from a fashion trend to a lifestyle that fits consumers’ attention to fashion and A comfortable vision. At present, the global clothing and footwear market is worth 1.7 trillion US dollars, and the global sportswear industry is worth 282 billion US dollars. Magdalena Kondej said: "Every time we spend $6 on clothing, we need $1 for sportswear and footwear. This is a piece. Very large cakes are definitely worth the struggle for the producers."
Global sportswear has a 6.5% growth rate faster than the general apparel market, and sports footwear has grown at a rate of 9.5%. Therefore, Euromonitor predicts that global sportswear value will increase by $61 billion by 2021. Both developed and emerging markets are growing rapidly, with India rising the fastest (22%), and the UK currently spends about $144 per capita on sports and leisure fashion, while the US has more than $300. Magdalena Kondej said: “British and European performances were worse before, but it also means they have more room to grow.â€
She also said that Chinese consumers are gradually accepting sports and leisure apparel. She said: “In 2012, the fashion business achieved double-digit growth, but last year's growth rate was only 5%. At the same time, sportswear increased by 12% year-on-year, which indicates that sports and leisure has become China's new favorite.†Magdalena Kondej said At present, the market's view on sports and leisure is divided into two parts. One is sports and leisure as a pure fashion trend, the heat is decreasing, and the other is the continuous strength of sports and leisure as a product category with wider influence.
“A lot of analysis and headlines in the past year have said that sports and leisure are very popular, but they are dying. Is this true? There are some opinions that it may survive with certain brands,†she said. The bankruptcy of Yoga Smoga also emphasized the recovery of denim apparel. In 2015 and 2014, the sales of denim in the United States continued to decline. Last year, denim apparel achieved a 2% growth in the United States, with a global growth rate of about 4%.
But she said that although this may be because some people gave up sports and leisure and started to buy denim again, it may also be because sports and leisure have entered the denim field. “The jeans industry is now looking for ways to blend sports and leisure trends. Many brands are designing new elastic fibers and fabric denim for men and women. These denims feel very similar to jogging Pants.†She uses Replay's HyperSkin As an example, it proves that cowboys can be very comfortable.
And Euromonitor hopes that the influence of sports and leisure can be extended to other categories of clothing, such as underwear, swimwear, casual wear and beauty products, such as sunscreen makeup, to encourage manufacturers to develop technologies that make clothing more comfortable. Due to its broader influence and importance, Euromonitor expects non-sports brands and stores such as Jack Wills, Debenhams, Maidenform and House of Fraser to accelerate into this area.
However, although the mass market is very important, Euromonitor believes that the high-end luxury market is crucial for the development of sports and leisure, especially as global wealth grows, more consumers value the experience that products bring to them. Fflur Roberts, head of Euromonitor Luxury, said: "It is very important that people are very concerned about their bodies now, and they are health conscious about what they do, what they eat and what they wear."
She added: “Health is a new asset, and consumers are increasingly seeing health as a way to show their identity, including personalized fitness classes, personal training, etc.†Fflur Roberts cited some companies selling products and product experiences. For example, LVMH works with the premium bike brand Pinarello, Selfridges opens Body Studio and Lane Crawford's Fit Room.
Fflur Roberts said: “We asked consumers about the definition of health. Millennials emphasized proper diet and exercise. This healthy diet and exercise trends make us realize that people buy high-end clothing for sports. People want to The gym pursues health while staying stylish.†Euromonitor said that from 2011 to 2016, sports clubs and gyms grew at a rate of 9% in both developed and emerging markets, and growth in developed markets over the next five years. It is about 10%, and in emerging markets it is 13%.
Consumers who use a large amount of disposable income for fitness and health are the main audience for the sports and leisure products, and they will be the main buyers of higher-priced products, especially when the products become more fashion-conscious. In 2016, the fashion company launched its own series of capsule sportswear, and the number of times the designer and the sportswear brand cooperated to launch the product increased significantly.
Bernadette Kissane, a clothing and footwear analyst at Euromonitor, said that after becoming a mainstream lifestyle, sportswear will pay more attention to professional sportswear, which is expected to increase to $30 billion, while sportswear accessories will be $24 billion. Not only that, but there will be more professional brands, such as the women-focused cycling clothing brand Nakeid, which originated from the indoor cycling studios Psycle and Soul Cycle, which are themselves a sport as a way of life (rather than Representative of simple fashion trends).
And Euromonitor said that performance-conscious consumers are also potential audiences for wearable technology products. Bernadette Kissane cites the in-depth discussion of wearable technology by the sports giant Under Armour. The company has launched matching technology running shoes that tell the wearer whether their muscles are ready for exercise and also introduce sleep garments to help the muscles recover from fatigue.
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