current
Sportswear Competition
The sportswear market is becoming increasingly competitive, with challenger brands gaining ground on established players.
Timeframe
near-term
Subcategories
Impact areas
Detailed Analysis
The sportswear segment is experiencing rapid growth, but the competition is intensifying. "Challenger brands are forecast to generate over half of the sportswear segment’s economic profit in 2024, up from 20 percent in 2020." Challenger brands are capturing market share by focusing on innovation, niche categories, and targeted marketing. "This means the battle between challengers and incumbents in the growing sportswear market will likely intensify." To remain competitive, brands need to invest in product development, build strong brand narratives, and develop effective distribution strategies. "To gain market share, brands will need to develop innovative products and use the right ambassadors and channels to activate unique brand stories." The convergence of sports and fashion is also creating new opportunities and challenges for sportswear brands. "Challenger sportswear brands are expected to generate 57% of the segment’s economic profit in 2024."
Context Signals
Growth of athleisure and sportswear market
Success of challenger brands like Hoka and On
Increasing investment in sportswear innovation
Edge
Sustainability and ethical manufacturing could become key differentiators in the sportswear market.
Personalization and customization could become more important as consumers seek unique sportswear products.
The use of technology and data analytics could enhance product development and marketing strategies in sportswear.
