Trends That Shaped The Sporting Goods Industry In 2021
After the 2007-2008 crisis, the sportswear industry experienced one of its biggest crises thanks to the pandemic in 2020. Of course, because of COVID-19, like all of us, most brands, retailers, and manufacturers have finished the year significantly in the red.
However, they tended to outperform the wider market as the year progressed. Especially at home, sports equipment, as well as sportswear products that we can all use at home, managed to turn this crisis into an opportunity by taking the lead on stage. In fact, from the second shutdown, they have become much better than other industries. . Among emerging opportunities, women’s clothing came to the fore amid increased focus on activities such as home workouts, running, yoga, and Pilates.
After 2020, we experienced trends that will take a pulse in 2021. As next year approaches, we are taking a look at the main trends that have dominated the sports industry this year, and we are starting to prepare for 2022.
Athleisure was a very big trend before COVID-19. With fashion brands increasingly entering this segment, sporting goods players leveraged their innovation abilities and market knowledge to win in this increasingly contested battleground. They used advanced technologies for consumers to feel extraordinary during their practices and daily life.
Sustainability has become an increasingly urgent consumer priority, and companies have responded by introducing more sustainable products—a trend accelerated by the pandemic. From companies like Kering to Skechers to niche brands, all small and big brands engaged with innovative concepts, trying new fabrics, new techniques, to reduce carbon emission.
3) Digital World
After physical distancing and stay-at-home requirements, digital fitness became a hybrid model. Since it did not replace traditional exercises it still played a big role in offering an engaging and inspiring element and allowing remote exercising in a simulated community setting.
Of course, there has been a drastic change in the understanding of advertising with the stop or closure of major sporting events, major events, and this continued throughout 2021. That’s where influencers came in. How this works can be seen in China, for example, where influencers sell larger quantities of products than established companies and become brands themselves. The marketing budgets of the past were heavily focused on events and team sports. In the future, winning companies will put more emphasis on individual athletes and digital channels, forging personal relationships with individuals.
5) Direct Connection
Reflecting the rise of digital, companies that have harnessed the power of communities have prospered during the pandemic, often replicating the atmosphere of the gym in peoples’ own homes. We saw personal live shows, classes, direct messages, and direct engagement with communities.