In spite of the negative impact from COVID-19
we continue to see strong growth fundamentals
for China’s sportswear market over
the medium to longer term
By 2030, in fact
the market is projected to nearly double in size
crossing the $100 billion mark.
This rapid growth means that
China will remain one of the leading global markets
for sportswear over the coming decades.
However, new BCG research reveals major shifts
in the kinds of sportswear
that consumers in China are looking for
and how it should be marketed and sold
Now we find a multitude of new categories
of sports and pan-sports activities
China has a relatively young consumer industry
and that includes fashion, casual and sports as well.
And today, they want sportswear that creates
a great social media post,
helps them perform on the field,
and perfectly fits their mood.
Today's Chinese consumers know
which activities they want to pursue
and what they want to get out of them,
whether it's a sense of community
or individual accomplishment,
better health or new skills.
For young people, it's about exploration.
For the middle-aged,
it's about retaining a vigorous, active lifestyle.
For seniors, It's about boosting vitality
And for everyone, it's about enjoyment
and connecting with the communities
We can see that sports are becoming
an integral part of consumer's life goals and lifestyles,
with sportswear purchases
driven by emotions and experiences.
And increasingly, consumers are also being driven
by a more serious approach to fitness.
Consumers want to understand
the science behind fitness.
They want skilled coaches,
they want professional equipment,
and they want the sportswear to match.
Another example of unique wardrobe development in China is
the spillover into non-sports locations
For example, businessmen wearing
smart activewear in a boardroom,
as a token of achievement,
and personal triumph.
A multitude of different players are
shaping sportswear demand for the decade to come
with thousands of specialized creators
offering daily clock-ins
capturing the moment
credentialed blogging
and specialty content
Key opinion leaders,
well-respected influencers,
with proven expertise,
and key opinion consumers
who test and review products
are curating and recreating content,
sometimes in collaboration with brands
in more and more sophisticated ways.
Sports communities have also become very influential,
with experts and opinion leaders
shaping member training
and product selection.
This fragmentation of the consumer pathway
has broad implications.
We've also seen new ideas
in physical spaces
that can be applied to sportswear, sales and marketing.
Gamified flagship stores
where consumers can play
discover and shop.
Catchment spaces
where customers can grab their online purchase and go.
Community centers where groups can join together
to learn about stories
and their subculture
and bond with those who are like-minded.
And crossover pop-ups
that bring together inspiring brands.
We offer six initiatives to support that effort.
Brands need a portfolio play
and they need to push back
on the previously imagined boundaries
defining what sportswear is
and why it is worn.
Marketers need to build influencer assets.
Looking at smart, elite grassroots crossovers
to generate marketing power
while building their content
creation and curation capabilities.
Businesses should experiment
with innovative new retail formats
and think about ways
to transform their retail partnership
Companies need to develop stronger
consumer listening skills,
and be able to move quickly
to meet demand for new designs.
Supply chain managers
should focus more on making the right choices,
backed by insights,
and then on simply being fast
Organizations should consider
moving external talent in-house
that is crucial to consumer insights,
marketing commercials and local design.
Last but not least,
organizations should not be overwhelmed by the change.
Instead,
they should reduce the complexity
they face by using insights
gathered from the market
to create a clear, thoughtful,
strategic roadmap to new growth.