2024年解码中国年轻人群的体育运动消费观报告-VOGUEBUSINESS IN CHINA

12UNDERSTANDING CHINA’S SPORTS MARKET IN 2024Silver lining amid shifting mentalityIt seems like we’re in for a challenging year of 2024, with a shaky economy, political uncertainty and environmental concerns still looming. But the Chinese sports consumption market is hellbent on proving its mettle through resilience and creativity. Compared to the luxury & fashion industry, the sporting goods sector is on a clear route of steady recovery after going through the hazy 2023, when falling consumer demand, partly caused by excess inventory and steep discounts, failed to meet the industry’s lofty expectations.Entering 2024, brands and consumers have adjusted their expectations to be more grounded. Instead of concentrating on short-term buzz and gains, brands lowered their sales ambitions to focus on producing quality growth. An increasing number of players are reaching out to Chinese shoppers with branding efforts and community-building initiatives. Like the Zendaya collaborations with On Running and Nike’s most audible voice in years, “Winning isn’t for Everyone”. There is also a shift towards embracing the original sports spirit, as Chinese consumers are becoming more discerning and value driven. They are now looking for brands that offer both value for money and compelling storytelling that resonates on an emotional level. Nowadays, it's considered a given that the growing interest in health and wellness among China's upper-middle class will drive the country's sports sector forward. Our research shows that the factors driving growth are holding strong, including purchasing intent, sporting behaviours and personal style all playing a role.In the first half of this year, growth of the sports industry outpaced most other consumer categories, including luxury, fashion and beauty. The sports and entertainment category saw a year-on-year growth rate of 11.2% from January to June, as reported by China's statistics bureau. While large sportswear companies saw growth in the single digits, niche brands like lululemon, On Running, Hoka, Descente, and Asics recorded staggering figures.After all, the Chinese sports industry may emerge from the longer-than-anticipated post-COVID recovery trail sooner than any other significant consumer goods sector. Even if the economy remains slow, our poll suggests that very few consumers will cut back on spending on sportswear, and the rate of increase will speed up again when confidence recovers. For now, brands should prioritize aspects like brand-building, product optimization (through meaningful new launches), and channel consolidation, all while maintaining a high level of consistency.23潘奕羚 Yiling PAN中国版编辑总监 VOGUE Business2024 年仍然是充满挑战的一年，经济局势风起云涌，政治局势莫测高深，环境问题迫在眉睫。然而，中国体育消费市场的韧性和创新能力，正在构筑坚实的抗压堡垒。在奢侈品和时尚行业不断 “探底” 的背景下，中国体育消费随着市场预期调整和消费信心回归却逆势而上，稳步走出了复苏之路。回看艰辛的 2023 年，本土体育产业在高增长预期下遇到了前所未有的消费信心 “滑铁卢”。库存过剩与低价促销，也让品牌力遭受重创。进入2024 年，品牌与消费关系之变愈发深刻。消费者期望正趋向现实，追求的是持久而有价值的产品。品牌则摒弃了短暂的浮躁与短视收益的追逐，转而追求以品质赢得长久的市场信赖与忠实拥趸。值得关注的是，众多运动服饰品