Yang Haiquan, our correspondent in Geneva
The new crown pneumonia epidemic is still raging around the world, and home isolation, telecommuting, video conferencing and online social networking have gradually become the normal life of people around the world.
The epidemic has also prompted people to pay more attention to fitness to stay healthy.
Under this circumstance, people's demand for comfortable wearing and fitness exercise "outfit" when working and living at home has increased, and sports and leisure clothing has become the new favorite of consumption.
The epidemic has driven stronger consumer demand for sportswear, and the sportswear market has ushered in new business opportunities. This momentum is particularly evident in some countries.
In 2021, U.S. sportswear sales will reach $70 billion, and consumer apparel spending is rebounding rapidly and showing new growth trends, forecasting an annual growth rate of 9% over the next five years.
Market surveys show that after the outbreak, South Korean consumers' consumption of home wear, sportswear and leggings has increased significantly compared with before the epidemic, and their favorability for sportswear has also increased significantly, further expanding the market size.
A consumer survey by a British market research agency found that sales of sportswear in the UK surged during the epidemic. Half of the respondents purchased home fitness products including sportswear, and 76% planned to continue exercising at home after the epidemic ended. .
After the outbreak of the epidemic, sales in the Russian sportswear market will resume an upward trend in 2021, and the market will continue to expand, becoming a highlight of the development of the country's retail industry.
According to industry analysts, the epidemic and economic recovery have spawned new formats in the sportswear industry, and there have been trends such as changes in consumer demand and preferences, and changes in consumer trends.
The impact of the epidemic on people's lifestyles is expected to continue for some time.
Industry insiders are optimistic about the growth forecast of global sportswear consumption, especially the general trend of online sales growth will continue.
The sportswear industry should grasp the industry trends during and after the epidemic to promote new development in the industry.
First, the increasingly popular "stay-at-home" work and life model will drive the growth of consumer demand for sports and leisure clothing.
The flexible working system has led to the gradual blurring of the boundaries between work and home life. Many professionals have become accustomed to working remotely from home wearing sports and leisure clothes. It is expected that the workplace dress code will be further relaxed in the future.
Second, the boundaries between sportswear and casual wear tend to be blurred and further combined. All-weather sports and leisure wear suitable for sports and fitness, travel, office, social networking and shopping will become a new trend in clothing.
The sportswear of the future will further embody leisure and comfort features.
Third, sports brand clothing will be further popularized and popularized.
Brands should consider how to offer more natural, comfortable and stylish products to consumers of different age groups.
Fourth, the trend of fashion industry-related products moving closer to sports and leisure clothing is strengthening.
Relevant market research shows that female consumers tend to use high-quality fabric sports and leisure clothing as their daily clothing, and yoga clothing, bodysuits and home physical exercise training suits will continue to be sought after by the market.
Fifth, the athleisure apparel industry has the characteristics of sustainability, inclusiveness and diversity growth.
New materials and new technologies will continue to bring more durable and higher-quality innovative products to consumers.
It is predicted that the compound annual growth rate of global sportswear sales will continue to rise, and the market size will continue to expand, but how to maintain this momentum in the post-epidemic era will be a major challenge for the sportswear industry in the future.
At present, there are still great uncertainties in the recovery of the global economy, the employment status and prospects of some major economies are not optimistic, and the consumption behavior of consumers tends to be conservative and cautious.
The epidemic has led to the closure of a large number of stores in the clothing industry, the sales network and channels have been affected, and the physical retail has suffered huge losses.
The outbreak has also forced many apparel companies to shelve expansion plans or be forced to close.
There are also some apparel companies facing the pressure of rising costs and declining revenue caused by increased inventories.
In this regard, various departments including design, production and sales should actively launch response strategies, strengthen digital sales, and strive to cut expenses and reduce inventory.
Industry insiders pointed out that the sports and leisure clothing industry is the winner in 2021, and its market has shown a strong growth trend, which will attract more companies to enter related fields.