Favorable Policies Continuously Release New Growth Space in the Sports Industry
2023-04-11
Under the influence of multiple factors such as policy support and strong demand for mass sports, sports consumption is gradually recovering. According to the 2022 annual report disclosed by some sports brands, domestic sports consumption has shown strong resilience, and the growth rate of brand revenue has maintained a high level. Industry insiders say that the domestic sports industry is facing opportunities for rapid recovery and development. At present, there is still an imbalance in the development of the sports industry. With the favorable support of digital technology and public demand, multiple tracks such as sports technology and sports marketing will have the opportunity to show higher growth rates in the future, and emerging sports such as skiing will have greater growth space. The recovery momentum of sports consumption has been revealed recently, and various measures have been introduced in various regions to stimulate sports market consumption. The "Several Measures for Promoting the Revitalization of Hainan's Cultural and Sports Exhibition Activities" recently released by Hainan Province mentioned the resumption of six major brand sports event activities, increasing the supply of cultural exhibitions, sports events, and exhibition products, encouraging cities and counties to issue cultural and sports consumption vouchers to stimulate market consumption, and introducing policies and measures to promote cultural and sports consumption. On March 23rd, Shanghai issued the "Several Measures for Further Promoting and Expanding Consumption in Our City", which stated that international sports events should be resumed, Xuhui District and Yangpu District should be supported to deepen the pilot program of national sports consumption cities, and the "You Exercise, I Subsidy" sports consumption voucher public distribution activity should be continued. With the support of favorable factors such as policy support, China's sports consumption has recently shown a good momentum of recovery and development. Zhao Jie, Decathlon's media affairs contact, said in an interview that since the Spring Festival this year, the sports consumption market has significantly warmed up, and the sales of related sports products are good, achieving an average double-digit growth. According to the sales situation, more and more niche sports are emerging, such as skateboards, frisbees, and paddleboards, showing a stable growth trend. Some outdoor sports, such as camping, running, cycling, and other categories, are even hot selling items. "Zhao Jie said that consumers are starting to look for new sports experiences outside of traditional projects, and there is a personalized demand for sports consumption. Sports events have also attracted many enthusiasts to participate. The 2023 Xiamen Marathon, held on April 2nd, attracted 35000 participants; The press conference before the 2023 Beijing International Long Distance Running Festival - Beijing Half Marathon also mentioned that since the registration was launched, it has attracted more than 50000 people from 27 countries and regions such as China, Japan, the United States, and Germany to participate in the registration. Professor Wang Yuxiong, Director of the Sports Economics Research Center at Central University of Finance and Economics, stated that various events such as marathons have quickly resumed, and activities such as "village BA" have become popular. This all demonstrates the strong demand of the general public to participate in various sports, "said Wang Yuxiong. The growth trend of the sports industry is positive. "With sports events returning to the right track, including the Chengdu Universiade to be held in the summer and the Hangzhou Asian Games to be held in the autumn, we believe it will drive the recovery of various links in the industry chain, further boost consumer confidence, and the sports industry will continue to show a positive growth trend in the future," said Zhou Xing, managing partner of PwC China's sports industry. The positive trend of sports industry growth has been reflected in the production and operation of micro entities. Several sports brands have recently released annual reports showing that their revenue for 2022 is guaranteed
Edit：He Chuanning Responsible editor：Su Suiyue
Source：Xinhua
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