Fashion, functional sports products are more popular in the Chinese market
Release time:
2019-08-14
In 2015, my country's sportswear industry began to stabilize. By 2017, it has basically adjusted in place. The number of stores of major leading companies has begun to pick up, and the scale growth rate has also increased year by year. This can be seen from the growth trend of retail sales in my country's sportswear industry from 2013 to 2018. However, even if the scale growth rate maintains a year-on-year growth trend, from the perspective of the market share of each brand, the largest contribution to this phenomenon is still foreign brands, and the market share of foreign brands has been increasing year by year in recent years. And domestic sports brands want to catch up, still need to strengthen product research and development investment, strengthen the application of science and technology, while brand building, in the product.
In 2015, my country's sportswear industry began to stabilize. By 2017, it has basically adjusted in place. The number of stores of major leading companies has begun to pick up, and the scale growth rate has also increased year by year. This can be seen from the growth trend of retail sales in my country's sportswear industry from 2013 to 2018. However, even if the scale growth rate maintains a year-on-year growth trend, from the perspective of the market share of each brand, the largest contribution to this phenomenon is still foreign brands, and the market share of foreign brands has been increasing year by year in recent years. However, if domestic sports brands want to catch up, they still need to strengthen investment in product research and development, strengthen the application of science and technology, and at the same time carry out brand building. Li Ning has done a better job in brand building. From the perspective of market evolution, with the continuous change of domestic consumption concept, functional and fashionable sports products are more popular with consumers.
The industry has been gradually adjusted in place, the scale of growth rate increased year by year
China's sports brands in the industry in the downturn to re-examine the problem of enterprise development, adjust the channel structure, clean up inventory, in 2015 China's sportswear industry began to stabilize, by 2017 has been basically adjusted in place, the number of major leading enterprises stores began to pick up.
According to Euromonitor International statistics, retail sales in China's sportswear industry reached 264.8 billion billion yuan in 2018, up 19.5 percent year-on-year. From 2013-2018 China's sportswear industry retail sales trend can be seen, China's sportswear industry has gradually adjusted in place, the scale of growth rate increased year by year.
From the perspective of my country's sportswear market segments in 2018, sports shoes and sportswear are the two largest market segments. The retail sales of these two markets totaled 144.5 billion yuan, and the total market share was 54.5.
The market share of foreign brands has increased year by year, while the market share of local brands has declined.
Due to the impact of the outbreak of China's local brand inventory crisis from 2012 to 2014, among the TOP 20 brands in China's sports shoes and clothing industry, foreign brands surpassed local brands for the first time in 2014 and continued to improve in the following years. In 2018, among the TOP 20 in China's sports shoes and apparel industry, the total market share of foreign brands in China reached 54.3 percent; local brands were 28.6 percent, a big gap.
With the improvement of consumers' requirements for product quality and the increase of brand identity, domestic sportswear enterprises must strengthen investment in product research and development, strengthen the application of science and technology, and build brands at the same time. However, with the rising cost of manpower and raw materials, small and medium-sized enterprises will be difficult to sustain. Anta, Li Ning and other well-known domestic brands will compete fiercely in many fields. Anta and Li Ning may catch up with Nike and Adidas in the domestic market and enter the first echelon; 361 degrees, Xtep and other brands, as the second echelon, may further widen the gap with the first echelon in the process of transformation.
When it comes to the efforts made by domestic sports enterprises in building brand influence, Li Ning has to be taken out separately for analysis. Different from the founders of other domestic sports brands, Li Ning, the founder of the company, is a famous gymnast. The sports brand "Li Ning" created by Li Ning has natural brand influence and is the earliest local sports shoe clothing brand in China. In 1990, Li Ning wore Li Ning brand sportswear to pass the torch of the Asian Games, and in 2008, Li Ning lit the main torch of the Beijing Olympic Games, all pushed the brand influence to a new height. In addition, in recent years, Li Ning began to strengthen the interactive experience of consumers, including the launch of running Corner, Li Ning iRun club, brand marketing and member activities combined, so as to improve the user's consumption experience, improve consumer loyalty, strengthen the construction of brand competitiveness. According to C- BPI data, Li Ning ranked second in the brand influence of sports apparel in 2018, second only to Nike.
Under the background of the change of consumption concept, sports products show the characteristics of functionalization and fashion
Nowadays, the consumer's concept of sporting goods represented by sportswear has gradually changed. The most obvious one is that the consumption of sports apparel presents the characteristics of functionalization and fashion, which will benefit the leading enterprises with the advantages of technology accumulation and design ability in the industry.
1) Functionalization: In the past, consumers only used sportswear as a substitute for casual clothing for outdoor activities. Now, with the transmission of the concept of healthy life and the gradual popularization of sports concepts, consumers' participation in various sports has increased, and sportswear is equipped with higher functional requirements, such as lightness, sweat absorption, quick drying, shock absorption, etc. Brands also begin to pay attention to specific scenes when developing products, research and development of product functionality.
2) Fashion: As consumers are becoming more and more sensitive to fashion, sports brands are beginning to incorporate more fashion elements. Take Adidas as as an example. In 2015, Adidas introduced a total of 22 new shoes, of which nearly 50% were more inclined to the fashion field. In combination with its "single product + explosive model" marketing method, Yeezy sports shoes series, Stan Smith and others quickly became popular in the market. In 2017, Adidas once again cooperated with the fashion brand Stella McCartney, inviting fashion supermodel Karlie Kloss to speak for it and further; another example is the domestic brand Li Ning, which appeared in New York Fashion Week in 2018. With the theme of "enlightenment", it launched a series of products, which attracted widespread attention and reversed the domestic stereotype of it.
(Source: Prospective Industry Research Institute)
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