The COVID-19 pandemic had a profound impact on the global sportswear market in 2020, with most companies posting weaker sales. Specific sports were impacted with varying degrees, depending on how accessible they were in a locked-down environment. Outdoor individual sports and home workouts both saw increased participation. Team sports and indoor sports struggled, due in part to the postponement or cancellation of major sporting events. Among emerging opportunities, women’s clothing came to the fore amid increased focus on activities such as home workouts, running, yoga, and Pilates.
The impact of the pandemic goes beyond temporary performance—it has also accelerated changes that will have long-lasting impacts on companies throughout the sporting goods value chain. COVID-19 has ushered in the next normal for the industry, defined by factors including digital commerce, rising demand for sustainable products, and increasing participation in individual forms of sports and exercise. To win in the new environment, the industry needs to adapt both its customer proposition and its operational capabilities.