Boston, MA -- (ReleaseWire) -- 06/30/2014 -- Venezuelans, in spite of their low purchasing power, like to take good care of their bodies and appearance. There is a positive attitude towards all diets, health-related products, and exercise programmes amongst the middle- and upper-income groups. Sales of sportswear products are expected to increase because in recent years the number of competitions in running, walking and cycling, as well as the number of participants in these activities, has increased. This situation shows that as the number of Venezuelans participating in these activities increases, so will the demand for sportswear performance products. In Caracas, every weekend there is a marathon for different causes. This activity has become the preferred marketing strategy for companies in the country.
adidas is first with a 12% share of the retail value. adidas tends to be more affordable because it stocks many products from previous seasons. adidas also enjoys a wider distribution and carriers more variety throughout the country. Nike is second with 8% of the retail value, while Puma is third with 7%. Other major brands are Converse, Bug (local), Umbro, Oakley, No fear, Wilson, Asics for running, and the local brand RS21.
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Over the forecast period, the popularity of football and baseball is expected to continue increasing. Middle-and high-income Venezuelans will be increasingly motivated to go to gyms to exercise, encouraged by TV programmes and advertisements in the health sector (promoting marathons, for example). International brands such as adidas and Nike will capitalise on the increasing popularity of national and international football. Local baseball teams will also continue to sell vests, shirts, caps and accessories primarily through the specialty stores of Los Leones del Caracas and Navegantes del Magallanes.
Discover the latest market trends and uncover sources of future market growth for the Sportswear industry in Venezuela with research from Euromonitor's team of in-country analysts.
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If you're in the Sportswear industry in Venezuela, our research will save you time and money while empowering you to make informed, profitable decisions.
The Sportswear in Venezuela market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Sportswear in Venezuela?
- What are the major brands in Venezuela?
- How dynamic is the growth of clothing and footwear internet sales?
- What is the performance of women?s clothing vs men?s clothing?
- What % of clothing and footwear sales goes through grocery retailers?
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Product coverage: Sports Apparel, Sports Footwear.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
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