The Growth of Sportswear Market in India
The sportswear market in India has been growing steadily over the last decade. It has kept the Indian consumer satisfied and engaged with constant re-invention from existing brands and launch of several new local and international brands. Sportswear offerings include an assortment across categories. Even the staples of sportswear are available in countless variations.
Customers are further spoilt for choice with more segmentation into different looks. They can now not just buy a product but embrace a new identity.
The popularity of fashionable sportswear has now picked up steam with an increased exposure and awareness of the younger consumer. The changing consumer demands have led to an exponential growth of the sportswear industry over the recent years. The Indian sportswear industry owes its growth to the burgeoning middle class, change in consumer choices and an increased disposable income. Boom in rural markets is another essential factor in this expansion narrative. The growth story has led to India becoming a focus market for the global sportswear industry. In order to cater to the growing demands of the consumers, sportswear companies have to be nimble and constantly increase productivity.
Sports Tees, Trackpants, Joggers, Shorts are items that are taking the fast fashion industry by storm. This category has gone beyond the boundaries of formal wear. Sportswear are available in a variety of fits, styles, patterns and prints. Consumer awareness has given impetus to international and domestic brands in this category. Sportswear is now a wardrobe essential for men as well as women.
This fitness essential has grown from basics to an instrument of personal expression. India is set to register the highest growth rate for sportswear sale in the Asia- Pacific region in the next five years. Technology and globalisation will be one of the most important influencers in India in the years to come. Millennials are the game-changers of this industry. For the fashion-conscious population accessibility to stylish and comfortable sportswear is important. The access to various social media platforms and fashion blogs enables them to keep pace with the latest trends. Frequent wardrobe update is the new normal and brands must remain on point with latest trends and affordable pricing.
The growing reach of the internet, social media and e-commerce now allows reach to the consumers in smaller towns. The growth in e-commerce is driven by access to cheap data, increasing comfort with online shopping and brands offering best in class service on their web selling platforms.
The plethora of new brands as well as established companies offering sportswear via e-commerce and through EBOs and MBOs has been increasing day by day to satiate the customer’s growing appetite for newness. International brands are paying careful attention to the needs of the Indian consumer as today’s aspirational buyers of high-end brands expect more in terms of store ambience, visual merchandising, product pricing, product designing, marketing, etc.