Fitness and Athletic Clothing Stores in Australia - Industry Market Research Report

Fitness and Athletic Clothing Stores in Australia - Industry Market Research Report
Fitness and Athletic Clothing Stores in Australia

The Fitness and Athletic Clothing Stores industry has been under considerable pressure recently because of fierce competition. Yet, despite the challenges, the industry has managed to thrive. Credit goes to the contemporary shift in consumer preferences, with a growing interest in donning activewear as streetwear. The COVID-19 pandemic has produced mixed results for the industry, with a significant drop in sales over 2019-20, because of COVID-19 restrictions, replenished by a spike in demand over 2020-21. Trends in discretionary income, consumer sentiment, sport participation and demand from online shopping and department stores have influenced volatility in industry revenue over the years. The surge in online shopping brought about by the pandemic was highly beneficial for retailers with ecommerce platforms. Industry revenue is expected to uptick at an annualised 2.4% over the five years through 2023-24, to $3.7 billion. This trend includes an anticipated dip of 4.9% in 2023-24, as falling discretionary income and negative consumer sentiment prompt consumers to cut back on spending on clothing.

Industry firms primarily retail sports apparel and footwear. The industry excludes department stores, online-only retailers, and general clothing retailers that do not specialise in fitness and athletic clothing and shoes.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.