Sportswear market in India has registered up to a 100% rise in sales during the month of December. The year-end burst is primarily attributed to end-of-season sales across the country with e-commerce market being a major contributor.
Japanese footwear and sports apparel brand Asics has reported a 100% rise in its sales. “We did twice of what we usually do in other months,” Asics India MD Rajat Khurana is quoted as saying in a Times of India report. “While New Year resolutions have always helped us get good results in December, we could rake in better numbers in 2017 due to end-of-season sale and marathons.”
The market experts also attribute this growth in sales to the “new year resolutions” for better fitness. “Sports and fitness are clearly getting more prioritised and are topping New Year resolutions,” Puma India MD Abhishek Ganguly is quoted as saying by TOI. “We have seen a substantial uplift in consumer demand during December this year. Across channels, our sales is 30% more than the average monthly sales for the year.”
Ganguly also said that December was a high-traction month for the German sportswear firm.
Categories such as running, training and fitness usually do well for sportswear companies during the end of the year, while at other times, companies bank on athleisure (activewear that people can wear outside a gym) for a bulk of their volumes.
The sportswear market in India has grown from ₹24,000 crore in 2014 to ₹37,000 crore in 2016 at more than 50% over the past two years. A Euromonitor study has shown a 23.7% CAGR for the 2011-16 period with a forecast of 11.3% for the 2016-2021 period.
The brands and retailers in the country this year have advanced their year-end sales this year to December from the tradition sales window during January.