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According to Sports Clothing and Footwear, a Market Update from market intelligence provider Key Note, the sportswear market is estimated to excel in sales over the forthcoming year, due to the eagerly anticipated 2012 London Olympic and Paralympic Games. The sporting event, scheduled in the UK between July and September 2012, is expected to attract over 5 million tourists, which will not only help the UK economy, but will significantly boost sales of sportswear.
The event is estimated to help the industry grow by 3.8% in 2012, which is a positive increase, given the recent downfalls and slow growth the clothing industry has experienced since the recession. In particular, sales of merchandise for event are expected to assist the market, while an overall moral boost among UK residents will also be evident as the nation tries to get fit and become more active, which will further be encouraged by the UK's worrying obesity rates. While, over recent years, some Government initiatives have already been established to try and reduce the current rates, it is estimated that in 2012 additional schemes will be rolled out to get the nation's health back on track.
In terms of the brands that will benefit from the increase in sales, global leader adidas is expected to have the most significant profit. The German group has been assigned the Official Sportswear Partner for the event, which enables it to provide kits to Team GB and all London 2012 staff and volunteers, as well as having the exclusive licensing rights to all London 2012 sports merchandise, both branded and non-branded. The brand's profits are expected to be greatly boosted from the event, however all sportswear providers are expected to witness an increase in sales, as the entire industry profits from the iconic event.
Press enquiries: Jack Sykes at Key Note at firstname.lastname@example.org or 0845 504 0452. Press/review copies of the report are available on request.