Sportswear brands such as Nike, Adidas and New Balance led consumers in China in 2023, while demand for Japanese casualwear brand Uniqlo was also strong.
According to GlobalData’s latest figures, which come from a survey of 1,000 respondents, 46.2% of consumers purchased from Nike in 2023.
This is to some extent due to the continued demand for sportswear in the country, but the report’s authors also said that it is “through its China-focused ranges, such as the exclusive streetwear collection that the company will launch in the country in March 2024 brought to market will be further strengthened”.
Over a third (34.9%) of consumers bought from Uniqlo, which benefits from its “good value for money”, while 32.4% of consumers shopped from Adidas, which draws on its sportswear expertise.
22.6% of consumers shopped at New Balance, while 18.8% shopped at Puma, “whose comfortable yet trendy product ranges appealed to a broad demographic.”
Nike’s China comeback
Nike appears to have redeemed itself with Chinese consumers after consumers across the country imposed a controversial boycott over the sportswear giant’s stance on Xinjiang.
At the time, Nike released a statement on its website saying, “We are concerned about reports of forced labor in and related to the Xinjiang Uyghur Autonomous Region (XUAR).” Nike does not source products from the XUAR and we have our contracted supplier confirms that they do not use textiles or spun yarns from the region.”
Then reports emerged that Nike and H&M were the targets of a boycott by angry consumers following the statement.
The move led to a surge in sales for China’s homegrown sneaker brand, with Anta, owner of the Fila brand, hitting a series of record highs and pushing its market value to over $60 billion in 2021. Li Ning has since seen its shares rise more than 84% at the end of March this year. However, at that time, Nike management assured that, despite the turmoil, the company would remain in the region where it had been present for 40 years.
CFO John Donahoe told investors in March 2021: “We are optimistic that we can continue to grow in the low to mid-teens over the long term.” He continued: “We remain committed to investing in the local consumer experience and the next generation of athletes to inspire in China… Today we are the largest sports brand there and a brand of China and for China.”
“In Data: Nike, Uniqlo, Adidas among China’s consumer favorites” was originally created and published by Just Style, a brand owned by GlobalData.
The information on this website has been included in good faith for general information purposes only. It does not constitute advice on which you should rely and we make no representation, warranty or guarantee, express or implied, as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our website.