The fashion industry is continuing to experience the dominance of sportswear, according to the latest data report from Launchmetrics. The report reveals that athleisure and sneakers are still driving the market, with luxury and sustainability also making significant impacts. Athleisure has expanded beyond athletes, attracting a broader consumer base, and the market is expected to grow from $185.9 billion in 2022 to $356 billion by 2032.
What makes this report stand out is its focus on Media Impact Value (MIV) rather than just the overall market value. Launchmetrics’ AI-linked algorithm assigns a monetary value to every post, interaction, or article to measure its impact on brand performance across different channels, voices, and regions.
The report analyzed over 70 top-performing sportswear brands and found that MIV for sportswear varied across different regions. The Americas and EMEA were the largest regions, with MIV of $2.7 billion and $2.2 billion, respectively. However, China and the rest of APAC are quickly catching up, with growth rates of 52% and 27%, respectively.
In terms of influential voices, China heavily relied on influencers, while the rest of the world saw media as the dominant voice type. Sneakers accounted for 43.3% of total MIV in sportswear, highlighting their significant impact on the industry. They also played a prominent role in the luxury sector, contributing to 30.2% of MIV.
Nike and Adidas are leading players in the sportswear and sneaker market. However, designers like Virgil Abloh have also had a significant impact through collaborations that bridge the gap between high fashion and sneaker culture. Influential tastemakers such as sneaker collectors and artists, including Sean Wotherspoon, have also emerged.
Luxury brands have embraced the sneaker trend, generating millions in MIV through collaborations like Gucci and Adidas. However, the impact of sportswear collaborations extends beyond sneakers to other categories like ready-to-wear and jewelry.
Athleisure has become a global trend, challenging traditional notions of high fashion. The report highlights the growing importance of sustainability in athleisure. Although it currently accounts for only 1% of sportswear-related MIV, brands have an opportunity to prioritize and promote sustainable initiatives to align with consumer values and enhance their MIV.
Adidas has been a leader in promoting sustainability through campaigns like EndPlasticWaste and the RunForTheOceans initiative. Other brands like Napapijri, Picture Organic Clothing, and Patagonia have also made sustainability a focus in their marketing strategies.
The report also explores the role of different voices in shaping the narrative and generating engagement for sportswear brands. Celebrity voices saw a decline in MIV, while influencers and owned voices experienced significant growth. Media voices remained the leading source of MIV, emphasizing the importance of traditional and digital media.
Social media has played a significant role in influencing sportswear trends and consumer behavior. While All-Star influencers still generate the highest volume of MIV, micro-influencers are witnessing substantial growth in their MIV shares. These micro-influencers have the ability to reach niche audiences and deliver authentic content that resonates.
In conclusion, the dominance of sportswear in the fashion industry is driven by athleisure, sneakers, luxury collaborations, sustainability, and the power of influencers. Launchmetrics’ data report provides valuable insights into industry trends and potential opportunities for brands to maximize their media impact and global industry influence.
Useful Links:
1. Launchmetrics
2. Business of Fashion Article
