For the first time, Launchmetrics has dealt with the phenomenon of sportswear, which has been influencing fashion and lifestyle for years as a driving force. The Sportswear Insights by Launchmetrics report examines key trends, influential voices and successful brand strategies in an attempt to shed light on the evolution and importance of the industry in today’s dynamic consumer landscape.
Overall, the data analyst specializing in fashion, luxury and cosmetics brands analyzed over 70 sportswear brands to identify the key trends in the industry. Topics covered included the top performing voices, the key influencers in the sportswear communities, the biggest game changers in the industry and the overall future direction of the sportswear landscape.
Sportswear is growing rapidly
The sportswear market has grown tremendously in recent years with a total market value of 185.9 billion US dollars (173.1 billion euros) in 2022. According to Launchmetrics, by 2032 it will grow to 356 billion US dollars (331.5 billion euros). The reason for this growth is due to various factors. On the one hand, this includes the increased health awareness of people after the pandemic and, as a result, the greater willingness to spend money on it. In addition, athleisure has established itself as a dominant fashion trend and has finally ensured that sportswear has been converted into everyday clothing. Ultimately, it is qualities such as functionality and comfort that have convinced people to want to wear sportswear everywhere.
This change has not only been driven by the products themselves, but above all by iconic brands, influential designers, famous people and prominent athletes. But dealing with the topics of sustainability or diversity also had an impact on the perception of sportswear.
Media Impact Value of sportswear increases by 52 percent in China
The most important unit for measuring success at Launchmetrics is the “Media Impact Value” (MIV). The company developed this algorithm to measure and benchmark the impact of all media placements and mentions in the fields of fashion, lifestyle and beauty. When measuring MIV for athletic apparel, Launchmetrics found notable differences across regions.
In 2021, the Americas accounted for US$2.5 billion (€2.3 billion) in MIV, making the region the largest contributor, followed by EMEA at US$2.1 billion (January 1st, 2021). .9 billion euros). China’s MIV was US$1.2 billion.
In 2022, however, total MIV for sportswear grew globally, with growth of 7% in the Americas, 4% in EMEA and a remarkable 52% in China. These figures show the developing landscape of the sportswear industry in the different regions.
China: Influencers are the most important voice type
The types of media that are most influential vary from region to region. Analysis of “voice types” according to Launchmetrics in the global sportswear market shows a contrast between China and the rest of the world. In China, influencers are the most important voice type for MIV. These play an important role in shaping consumer behavior, brand preferences and general engagement with sportswear products in China. In contrast, in the rest of the world, the media is the dominant voice type contributing to MIV.
The future of sportswear
Cooperations have achieved particularly high MIVs in the past, such as the cooperation between Adidas and Gucci, which generated a MIV of 96.5 million US dollars (89.9 million euros) in 2022. For years to come, collaborations will continue to be an important factor in maximizing return on investment (ROI) and gaining broad brand awareness and targeting new audiences.
At the same time, athletic apparel brands that drive inclusivity and women’s empowerment in male-dominated sports and diverse communities are gaining traction. By promoting diversity, these brands resonate with consumers who value inclusivity and build brand loyalty.
Celebrities will continue to be influential voices. At the same time, however, micro-influencers are also gaining in importance and are experiencing a significant increase in influence.
Sustainability has become an important topic for sportswear brands, which brings a lot of attention to the individual brands. So far, however, the whole topic has only accounted for one percent of all sportswear MIV.