1、 499May 2023RXSSG23RPGlobal Sports Sector RetailXIn partnership with:20232|RetailX|May 2023RXSSG23RP 2023 SUSTAINABILITY REPORT|INTRODUCTIONGLOBAL SPORTS SECTOR REPORT 2023|INTRODUCTIONHeres what we foundKEY FINDINGSThe sports goods sector accounts for just 1.1%of total global ecommerce,but is worth
2、 in excess of$77bn even in a downturn.The sector grew by almost a third in 2020,powered by lockdown,but has since dropped back to a more modest 4%growth rate in 2022.The slowdown has been caused by waning interest in exercise as the world returns to normal,as well as global economic headwinds stymie
3、ing consumer discretionary spending.China leads the way in consumer spending on sports goods,accounting for$36bn in 2022,way above that of the US($22bn).Much of this Asian spend has been on connected fitness and through fitness apps.Why this mattersContentsIncreasing state investment in sport has tr
4、ansformed the Middle East into a market ripe for exploitation by international and local brands.Across the world,sports is very much a young mans game,with Gen Z accounting for 33%of sales,Millennials 32%and Gen X 21%;sales of sports goods is also split two to one male to female in much of the world
5、.70%of sports goods are typically purchased instore,with just 30%online.This is down to many items being a high-value and highly personal considered purchase.Of those that do shop online,mobile takes almost half in all markets 75%in Asia.Apparel is the biggest segment of the sports goods sector by s
6、ales and,as a result,has borne the brunt of the market contraction in 2022,slumping from 17%growth in 2021 to just 2.2%in 2022.5%of sports and leisure purchases were made on sustainable grounds(4.1%for men,5%for women)in 2021,up considerably on the 3.8 and 4.6%seen in 2019,pre-pandemic.This values t