Poonam Goyal, Sector Head and Senior eCommerce and Athleisure Analyst at Bloomberg Intelligence, shares insights on the booming athleisure market and its implications for retail trends. She connects the rise of athleisure to remote work and changing consumer preferences post-pandemic. Poonam highlights Nike's competitive challenges and explores the lucrative potential of China's athleisure market. She also discusses how businesses leverage data and AI for better personalization and conversion, emphasizing the importance of adapting to evolving market dynamics.
Read more
AI Summary
AI Chapters
Episode notes
auto_awesome
Podcast summary created with Snipd AI
Quick takeaways
Athleisure has evolved into a mainstream apparel segment post-pandemic, reflecting consumers' lasting preference for comfort and health-oriented clothing.
Nike faces challenges in the women's athleisure market, providing opportunities for brands like Lululemon to cater specifically to female consumers' needs.
Deep dives
The Enduring Appeal of Athleisure
The athleisure market has become a significant segment of the overall apparel industry, evolving from a niche category to a mainstream staple. Post-pandemic, consumers have shown a continued preference for comfortable clothing, emphasizing their desire for health, activity, and comfort in daily wear. Athleisure is not merely a trend but a lifestyle choice that resonates with how people dress, with many opting for casual wear such as joggers, leggings, and sneakers in their everyday outfits. This shift reflects a lasting change in consumer behavior, where athleisure is likely to maintain its presence in wardrobes for the foreseeable future.
Women's Market Potential in Athleisure
Nike remains the leading brand in athleisure but faces challenges in the women's segment, where there is no dominant player currently. Brands like Lululemon have successfully catered to women by understanding their specific needs and preferences, which differ from the male demographic. This gap in the market for female-specific activewear has led competitors, including Nike and Adidas, to catch up as women's participation in sports continues to grow. The focus on women's athleisure creates a competitive landscape where no single brand has solidified dominance, allowing opportunities for various brands to flourish.
China's Growing Influence on Retail Trends
China represents a crucial growth opportunity for athleisure brands, as consumers there are increasingly embracing a sports-oriented lifestyle. Retailers are finding that the Chinese market not only offers high margins due to proximity to supply chains but also a strong demand for locally made products. This shift in consumer behavior has been particularly advantageous post-COVID, as there is pent-up demand for activewear and participation in sports events. Overall, China is expected to be a major driver of growth for athleisure companies in the coming years as interest in fitness and wellness continues to expand.
Today’s guest is Poonam Goyal, Sector Head and Senior eCommerce and Athleisure Analyst at Bloomberg Intelligence. Given post-pandemic retail and logistics trends, athleisure is frequently a ‘canary in the coalmine’ for many cross-sector business challenges. Poonam returns to the program to talk about her reporting on the athleisure space and how her findings reflect more significant retail and eCommerce trends, from supply chains to Nike’s shrinking moat in critical markets. If you’ve enjoyed or benefited from some of the insights of this episode, consider leaving us a five-star review on Apple Podcasts, and let us know what you learned, found helpful, or liked most about this show!
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode