dimanche 2 décembre 2018

The future of China's sports goods industry

The wholesale of sports goods in China includes sportswear, sports shoes, sports balls, sports equipment, fitness equipment, protective gear and other sports equipment.

China has increased annual sales to $ 30.6 billion in 2017, with annual growth of 9.8%. The Chinese government is taking care of the world and it will be ambitious - by 2020, the industry's revenues should amount to 3 trillion RMB (US $ 460 billion). But the efforts and support of the government are not the only drivers of this market. The passion for sports, more and more athletes and higher income will further stimulate the market.

Chinese millennia aged 18 to 35 (around 380 million people) are the most promising consumers, while retirees (men over 55 and women over 50) and children aged 5 to 18 constitute the public with the use of sports equipment. Chinese consumers still prefer foreign brands, but they expect a lot from the unique features and functionality of the products. Industry experts are optimistic about the future of China's sports goods industry, which offers opportunities for both foreign and local businesses. According to our findings, running is still the most popular sport in China, followed by badminton and basketball. Investors are interested in fitness, football, electronic sports, outdoor and extreme sports, martial arts, cycling and square dancing.

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