Foreign sportswear brands are experiencing a surge in sales in China, driven by heightened interest in sports post-Olympics. Key players like Speedo, Decathlon, and Adidas report significant increases in inquiries and sales, leveraging the country’s growing sports culture. Predictions indicate the sports market in China could reach 5 trillion yuan by 2025, as health-oriented spending rises among consumers.
As China’s love for sports intensifies, foreign sportswear brands are capitalizing on this wave of enthusiasm, particularly with the recent exposure from summer sporting events like the Paris Olympics. Major international names like Speedo, Decathlon, and Adidas have reported significant growth in their sales and inquiries, reflecting the rising popularity of sports among the Chinese populace. Speedo, the Australian swimwear giant, has struck gold with its goggles, becoming a sensation following the success of Chinese Olympic champion Pan Zhanle. The goggles saw a remarkable demand with over 4,000 pairs sold in a single week on Tmall, boosted by a surge in interest after Pan clinched gold in the 100-meter freestyle. Similarly, Decathlon, the French multi-sport retailer, reported a 50% increase in bike sales compared to last year, fueled by the enthusiasm of seasonal sports. The company projects opening 20-30 new stores annually, demonstrating their commitment to tapping into the expanding sports economy. Meanwhile, Adidas reported a steady performance with sales escalating by 9.3% to 822 million euros in the second quarter, marking five consecutive quarters of revenue growth. Their investment in sponsoring elite Chinese athletes has bolstered their brand visibility and engagement in the dynamic Chinese market. The US-based bike manufacturer Specialized has witnessed a compelling shift in consumer interest, especially among high-end road cycling bikes, reporting a doubling of inquiries year-over-year. This trend reflects a growing culture around fitness and cycling in urban centers, with user registrations in related clubs skyrocketing. Market experts echo the sentiment that the rise of health-conscious spending among the Chinese population, spurred by major international sporting events, is driving the sports sector towards new heights, as showcased by a 14.2% rise in nationwide sales of sports gear. Cong Yi, a professor at Tianjin University of Finance and Economics, attributes this enthusiasm partly to the ongoing allure of Olympic sports that began with the 2008 Beijing Olympics. With China’s sports industry estimated to reach a production value of 5 trillion yuan by 2025, the avenues for growth appear boundless, as global brands tailor their strategies to this evolving marketplace.
The surge in popularity of sports in China has been amplified by recent international sporting events such as the Paris Olympics. The nation’s increasing health consciousness, coupled with historical interest in the Olympics since the 2008 Beijing Games, has created a conducive environment for sportswear brands to thrive. As more Chinese consumers engage in physical activities, foreign brands are strategically positioning themselves to cater to this expanding market. Both e-commerce and brick-and-mortar sales are witnessing a remarkable uptick, providing fertile ground for sustained growth across the sportswear sector, which is projected to significantly impact China’s economy by 2025.
The landscape of sportswear sales in China is transforming dramatically, fueled by growing interest in sports and fitness. Major foreign brands are witnessing notable sales increases in the wake of the Olympics and other sporting events, pointing to a promising future for the sports economy in China. With predictions of an expansive market brimming with potential, the newfound zeal for health and sport among Chinese consumers is set to continue driving remarkable growth in the sector.
Original Source: www.globaltimes.cn
