The sportswear style is making it to the top of the fashion world. In other words, sportswear items are now revered as essential articles of clothing and many wholesale companies have already invested huge amounts of their efforts and revenues in the sales of sportswear and activewear. All this growth is heavily owed to the emergence of the athleisure trend. The fact that customers will continue to work out at home and look for ways to feel more at ease in challenging circumstances will undoubtedly be beneficial to the sportswear business in the coming years. Even though the fashion industry had a rough year in 2018, it seems that sportswear and athleisure businesses did better than ever. As a result of the fact that the bulk of business meetings are now conducted in front of a laptop at home, items traditionally reserved for lounging's, such as leggings, sweatpants, and loungewear, have rapidly become essential components of our professional wardrobes. Statista reports that the market for sports clothing in the United States had a value of $105.1 billion in 2020 and is forecasted to reach $113.4 billion in 2021. Having said that, this pattern has been around for quite some time. We believe that the 1990s, which many people consider to be a decade that shaped an extraordinary music culture, have served as a fashion inspiration for today's trends. White sneakers, long dresses, hoodies, and baseball caps were all considered cool back then, and they continue to be considered cool today. Since the onset of the epidemic, some have questioned the appropriateness of the clothing requirements. According to an article written by Hamutal Scheiber, the trend of practicing self-care at home is also on the rise. As a result, an increasing number of people are not only exercising at home, but also spending their money on clothes that can be worn in multiple seasons and serve multiple purposes. We believe we have passed the point of no return at this point. Even the landscape of social media influencers has been a sign of the emergence of the athleisure trend. According to the findings of research conducted by my organization, the two Instagram posts made by Portuguese soccer star Cristiano Ronaldo were responsible for generating approximately $4.12 million in Media Impact ValueTM during the first quarter of 2020 for Nike (a monetary representation of brand performance). Both of them were announcements, however one of them was about the Nike Living Room Cup, while the other one announced the release of the new CR7 football cleats. Athleisure orders have increased by 84% since the beginning of the pandemic, according to True Fit's Fashion Genome (via Direct Commerce), which analyzes data from 17,000 brands and 180 million True Fit users. Sales of women's athleisure bottoms were five times higher in December 2020 than they were in April 2020 in the United Kingdom alone. In addition, the order quantities for sales of men's athleisure clothes were 20% greater than they were in 2019. It has been stated that the sportswear brand All in Motion sold by the American store Target, which had only recently begun operations before the epidemic, surpassed sales of one billion dollars. Allied Market Research, a market research organization, forecasts that the value of the worldwide activewear sector would reach roughly $547 billion by the year 2024. The wholesale of sportswear is now one of the most lucrative businesses, mainly because sportswear has jumped to the limelight of the clothing fashion runways. A lot of experts believe that the athleisure trend is popular mainly because of being able to incorporate several factors.
- Sustainability, which has been a trend in the fashion industry for quite some time, has also made its way into the market for athleisure. We observed that customers continue to find and invest in new items that are made with materials that are sustainable, durable, and of high quality; many firms are striving to bridge the gap between fashion and innovative-functional designs.
- Inclusivity and diversity are integral to the operation of the company.
- Athleisure firms may win their customers' hearts by catering to ladies of varying body types and dimensions with the clothing that they provide.
- Luxury companies might discover a new business opportunity that allows them to increase their share of the market. Designers like Gucci and Stella McCartney are among those who have recently entered the industry. We anticipate that these designers will continue to either build their own performance lines or work with other sportswear firms to introduce limited collections of their own designs.
- On-demand courses have become communities in and of themselves. Athleisure brands such as Lululemon (with its yoga videos) and Alo Yoga (with its Alo Moves service) have become more inventive and developed on-demand offerings to bring yoga, fitness, and wellness classes to their customers' homes and to build new communities for people who are interested in the same things.
It is no longer sufficient for businesses to provide a product that is practical or even visually beautiful; many customers want them to participate in the conversation and speak out on social and political problems. More than ever before, marketers should give serious thought to incorporating socio-political participation into their company's culture. More crucially, in order for businesses to ensure that their message is received by the appropriate audience, they need to utilize the appropriate voice while communicating through the appropriate channel. This necessitates not just selecting relevant influencers and media sources to collaborate with but also being extremely selective about the channels that they choose to use. Brands should also be more aware of the need of connecting with location-specific channels that their consumers utilize, such as social media sites in China such as Douyin or Weibo. In order to propel the performance of your brand, it is essential to ensure that it understands how to communicate with the local client. Brands should place a significant emphasis on narratives and the art of storytelling. Authenticity is essential, but you should also provide customers the opportunity to contribute to the tale of your brand. The cultivation of a feeling of brand loyalty and the establishment of a lasting relationship between the brand and the customer may be accomplished through developing a connection to the brand and the values it upholds. In the end, we think brand performance will continue to thrive around those who understand their goals and leverage the right voices to reach the right consumers on the right channels in order to achieve their objectives and communicate their brand values. We believe this will be the case because those who understand their goals will also be the ones who are best able to communicate their brand values.