4 keys to understand what's going to happen in the sportswear industry in 2024

The last few years have not been easy for the sportswear sector: Covid-19, supply chain problems, inflation, geopolitical uncertainty... But 2024 seems to be the turning point for an industry that, despite all of the above, continues to grow.

Until not so long ago, sports fashion was relegated to those who practised sport on a quasi-professional basis. Today, sports are widely accessible and considered a leisure activity that anyone can participate in.

Mckinsey has published a recent report explaining the key points that the sportswear industry must consider in the upcoming months.Reveni has analysed it and these are our main conclusions:

1. Consumer preferences are changing.

More and more people are practising sport and with that, more and more sports are becoming more and more important. Pickleball and paddleball are two sports that are known for their social nature and have been gaining popularity in recent years. More and more people are practising these sports for leisure, and as a result, participation has increased by 159% since 2019.

2. Planning, the key to good management.

Stock control remains one of the biggest issues facing brands today. Not knowing the status of their inventory directly affects the profitability of brands because it leads them in many cases to:

  • Overproduce, with the result that in many cases these products end up in outlets with prices at which they have hardly any margins.
  • Faces volatile and constantly changing demand.

At Reveni, correct synchronisation of stock with returns and exchanges is crucial for effective inventory management. Let's not fool ourselves, nobody likes returns, but unfortunately it is something inevitable in the world of ecommerce. Therefore, optimising the process and syncing it correctly with the entire stock is crucial for brands to avoid losses from returns, while also facilitating the availability of the product in an agile and simple way.

3. The importance of sustainability.

Consumers are increasingly interested in sports products that are sustainable and environmentally friendly. Brands are responding to this demand by using recycled materials, reducing the use of plastics and adopting more sustainable production practices.

This is the case of brands such as Born Living Yoga, a sports fashion brand with a strong commitment to the environment. Its fabrics hardly need any water for their production and subsequent life cycle, which means an enormous saving of water compared to other fibres.

4. Why you need to be part of a sports ecosystem.

The integration of technology into sports fashion is a growing trend. Today there are many garments and accessories that monitor sports performance by connecting to mobile apps. In this way, training progress can be tracked on an individual level and a community can be formed around apps that encourage the creation of groups doing the same sport. 

Nowadays, sports brands have their own identity and a different way of understanding sport that helps to generate community around them. That is why they are undoubtedly a very important vertical to take into account in the fashion industry in the coming years.

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