2022 US Sports Industry Outlook: Apparel, Footwear and Equipment Will Continue to Grow

2022 US Sports Industry Outlook: Apparel, Footwear and Equipment Will Continue to Grow

Matt Powell said that the US sports retail business was very chaotic in 2020 and 2021, with old habits being abandoned and new habits replacing them, and it is expected that there will be huge changes again in 2022.

 

Let's first look at the macro trends in sports retail. First, brands' DTC initiatives will not abate. This will drive more sales to e-commerce.

 

Second, consumers will continue to commit to healthy living and maintain some degree of social distancing. This is good news for the sports industry, but not all categories will benefit equally.

 

It is important to note that the end of stimulus funding will be a major headwind for the sports industry. In 2022, many American consumers will have much less disposable income than in 2021.

 

Another is that the supply chain problems plaguing the industry will ease by mid-year, but they will not disappear completely.

 

At the segment level, for example, sports equipment, fitness novices will drive sales of equipment products. In addition, academic sports will perform well in the first half of 2022, but sales will drop sharply in the second half of the year. The underlying trend of fewer and fewer children participating in organized sports will become mainstream.

 

Golf and tennis equipment sales trends were very good in the second half of 2020 and the first half of 2021. However, by 2022, the growth rate of these equipment will return to historical lows. However, sales will still remain at a high level compared to before the epidemic.

 

Outdoor sports will continue to be a bright spot for the entire sports industry as consumers feel safe outdoors. Concerns about the earth will drive more people to engage in outdoor activities, and "backyard living" will continue to be an important trend.

 

As for activewear trends, Matt Powell expects sales of activewear to grow at a mid-single-digit rate in 2022. Consumers will shift from pure athleisure to a more "sporty" look, and colors will move from neutrals to brighter colors.

 

After a slow start in 2022, athletic footwear sales will grow in the low single digits. Growth in the running, walking and hiking categories will outpace the rest of the footwear market. Retro will remain an important trend, but it will need new styles to maintain momentum; styles that drove sales during the pandemic appear to have gone out of style.

USA

Sports Industry

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