American athletic shoe and apparel brands are advancing into Adidas territory. New Balance and Nike are the companies that have gained the most ground since 2021 among sports brands in Europe.
On the contrary, the German company loses points in its local market with a drop in the purchase intention of consumers.
New Balance is positioned as the sportswear brand that has experienced the greatest increase in purchase intention in 2023, increasing by 2% compared to 2021, according to the Morgan Stanley Sporting Goths study. The American fashion and sports equipment distribution company closed last year with a turnover of 5,300 million dollars and betting on the made in USA.
Behind New Balance is Nike. The purchase intention of the Oregon giant increased by 1.7% among European consumers since 2021. Vans closes the top 3, with an increase of 1.3% in 2023.
Conversely, Adidas and Reebok are the brands that experienced the greatest drop in customer purchase intention. decreasing by 2% in both cases. Puma also suffered a drop, plunging 1%.
Despite the drop, Adidas maintained its dominant position as the most purchased brand in the UK and Germany ahead of Nike. Although the company that created the Air Max shoes cut market share from its German counterpart, while Adidas stagnated between 2021 and 2023.
Recoil
Despite Adidas’s dominance in the UK, only 27% of respondents said it is their favorite brand in 2023, a drop of around 200 basis points compared to 2021 and a drop of 300 basis points. compared to Nike in 2023.
Nike, the dominant sports brand in Europe, was positioned as the brand with the highest long-term spending intention by respondents, increasing by 2.7% between 2021 and 2023. Young people between the ages of 16 and 24 are the who are most committed to investing in Nike products in the medium and long term, increasing their disbursement intention by 6.3% between the two courses, ahead of Foot Locker and The North Face.
Puma, despite limited market share gains in the UK and France, made a breakthrough with the younger generations, particularly Generation Z, gaining market share among the 16-24 and 35-year-old age groups. and 44 years.
Offline beats online by a narrow margin. 51% of those surveyed are committed to purchasing sports fashion products in physical stores. One of the main reasons for the commitment to offline purchases is the great relative weight of technical sports footwear over total purchases. In this case, customers opt to attend their favorite stores.
In any case, online sales gained ground over offline in the years after the pandemic. Before 2021, consumers preferred 56% to buy in physical stores, five basis points more than in the current course.
To conduct the study, Morgan Stanley conducted an online survey of 4,599 customers between the ages of 16 and 75 in Germany, France, and the United Kingdom, asking them about the top sportswear brands and retailers, as well as their general shopping habits. .
Source: Ambito
I am Pierce Boyd, a driven and ambitious professional working in the news industry. I have been writing for 24 Hours Worlds for over five years, specializing in sports section coverage. During my tenure at the publication, I have built an impressive portfolio of articles that has earned me a reputation as an experienced journalist and content creator.
