Vogue2024年解码中国年轻人群的体育运动消费观报告86页

12UNDERSTANDING CHINA’S SPORTS MARKET IN 2024Silver lining amid shifting mentalityIt seems like we’re in for a challenging year of 2024, with a shaky economy, political uncertainty and environmental concerns still looming. But the Chinese sports consumption market is hellbent on proving its mettle through resilience and creativity. Compared to the luxury & fashion industry, the sporting goods sector is on a clear route of steady recovery after going through the hazy 2023, when falling consumer demand, partly caused by excess inventory and steep discounts, failed to meet the industry’s lofty expectations.Entering 2024, brands and consumers have adjusted their expectations to be more grounded. Instead of concentrating on short-term buzz and gains, brands lowered their sales ambitions to focus on producing quality growth. An increasing number of players are reaching out to Chinese shoppers with branding efforts and community-building initiatives. Like the Zendaya collaborations with On Ru