Which sportswears are going to hit the market in India in 2018?
A new trend has hit the Indian market in the last few years with the introduction of innovative sportswares and sports apparel.
This is because of an increased interest in sportswearing, particularly sports apparel and accessories.
The Indian market is expected to see an increase in the number of sportswatches and sports clothing from the current estimated 30,000 to 70,000 in the coming year, said Dr Anand Bajaj, CEO, SportsCorp India, a sports apparel firm.
Sports apparel sales in India were estimated at $16 billion in 2016, according to the latest estimates by SportsCorp.
“This trend has been happening for a long time.
It is not a new phenomenon but it is the latest trend,” Bajai told The Hindu.
Sports apparel is expected in the next five years to grow to $100 billion, he added.
The Indian market has also seen a huge rise in the amount of sports-related retailing, he said.
“The number of sports apparel outlets in India increased by 10-fold from $1 billion in 2013 to $30 billion in 2017,” he said, noting that the number had gone up to $130 billion in 2020.
The new trend for sports apparel is driven by a need for quality and price.
“Sports apparel has become an important part of the Indian retail culture.
We are seeing that the trend is becoming a trend in India,” said Bajais.
“A lot of brands are adopting the new trend and offering sports apparel at affordable prices,” he added, pointing to Nike, Adidas, Reebok and Under Armour.
The biggest brands in India are Nike, Under Armour, Rebrand, Undercover, Adidas and Adidas-owned brands, said Bani.
These brands have a global presence, offering sports wear to the entire market.
The brands have also set up sports stores in India.
The growth of sports attire in India is also driven by the rise in sports fans, who are becoming more active and social media savvy, said Amit Agrawal, president, sports business advisory firm, The Indian Association of Sports Retailers (IASRS).
This trend is also driving more interest in sporting goods online, he noted.
“With more people becoming active online and social, we are seeing a big increase in online retail sales,” Agrawa said.
According to data from the NPD Group, online retailing sales for all apparel and footwear brands in the United States and Europe increased by 7.5% in 2017, reaching $4.4 billion.
“We are seeing an increasing number of brands and their online retail offerings to cater to this demand,” Agrewal added.