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Chinese Sportswear Market: An Analysis
Koncept Analytics, Dec 2010, Pages: 45
The Chinese sportswear market had seen tremendous growth over the past few years. High growth in this sector has been driven by rising disposable income, substantial improvement in living standard, which has led to higher awareness of healthy lifestyle and of international level sports events such as 2010 Asian Games in Guangzhou and 2011 Universiade in Shenzhen. Along with the unprecedented prosperity of sportswear industry in China, competition is becoming more intense. Domestic sportswear brands are competing with international brands.
The rapid growth of the Chinese economy indicates that the changes are accepted rapidly by the Chinese consumers, including fashion trends, and this means that Chinese consumers are very fickle about fashion. Sportswear has peaked in the wake of the Beijing Olympics and outdoor wear is increasingly the sector where growth is accumulating.
The top players in the Chinese sportswear industry are Nike, Adidas and Li Ning, had experienced negative growth over past few years which was due to the fact that domestic sportswear companies were taking over the top brands in the sportswear market. Given a more competitive landscape in the Chinese sportswear industry, sportswear companies have to spend more on advertising and promotions to strengthen their brands.
The Chinese sportswear market has been directly correlated with GDP per capita, urban population and retail sales. GDP per capita is one of the major factors affecting the Chinese sportswear market. Increasing living standards of people and higher GDP per capita is expected to boost the retail sales of the sportswear industry in china. Due to increase in urbanization, Chinese people are spending more on the leisure and casual sportswear apparels and footwear.
The report analyzes the sportswear market in China. The various drivers, opportunities and the challenges faced by the market are also discussed in detail. The competitive aspect of the market is highlighted and the key players are profiled with their strategies for this market.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
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