1、12UNDERSTANDING CHINAS SPORTS MARKET IN 2024Silver lining amid shifting mentalityIt seems like were 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 throug

2、h 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 industrys lofty expectations.En

3、tering 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 eff

4、orts and community-building initiatives.Like the Zendaya collaborations with On Running and Nikes most audible voice in years,“Winning isnt for Everyone”.There is also a shift towards embracing the original sports spirit,as Chinese consumers are becoming more discerning and value driven.They are now

5、 looking for brands that offer both value for money and compelling storytelling that resonates on an emotional level.Nowadays,its considered a given that the growing interest in health and wellness among Chinas upper-middle class will drive the countrys sports sector forward.Our research shows that

6、the factors driving growth are holding strong,including purchasing intent,sporting behaviours and personal style all playing a role.In the first half of this year,growth of the sports industry outpaced most other consumer categories,including luxury,fashion and beauty.The sports and entertainment ca