January might look different this year, but customers are still heavily investing in athleisure. According to Allied Market Research, the market is forecasted to be worth nearly $547 billion by 2024.
Since the 2000s, activewear has trended in popularity as people prioritized their physical and mental health by seeking wellness and escapism. With the category front of mind for both retailers and consumers in the new year, we’re joined by CPO of Sweaty Betty, Jemma Cassidy, to delve more into the booming market. Jemma gives us insight into Sweaty Betty’s strategies, including how they’ve successfully encouraged their consumers to stay active during lockdown.
- Back in December 2019, Sweaty Betty had prepared a crisis strategy plan that was eventually employed for the effects of COVID-19. The retailer started flying goods by plane which helped increase stock-holding by the beginning of 2020. With this strategy in place, Sweaty Betty was more prepared than other retailers for the pandemic.
- Retailers need to make sure that they have best-sellers in stock 24/7. While other products are important for brand-proposition and attracting new customers, business is driven by “never-out-of-stock” products when looking at sales figures.
- Mental health is suffering more than ever, so activewear retailers need to do their bit and encourage customers to exercise both their body and mind. It’s not about reaching that high-caliber of athleticism professionals are at, but to use your fitness goals as a means of looking after yourself to be the best version of you.
- Investing in technology and material innovation is key in 2021. Any recycled materials that retailers can put into a performance product is important to both the consumer and the environment.
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