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Sports Giants Struggle Amid Market Growth
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Athletic Wear Market Ascendence
Fitness Tech Market Soars
Sports Apparel Market Growth Projections
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Overview
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Major sports apparel giants like Nike, Under Armour, Adidas, and Puma face declining revenues and earnings, missing expectations in contrast to the industry's pandemic peak performance. Post-pandemic, companies like Peloton, Lululemon, and Dick’s struggle, with Adidas encountering inventory challenges post-Yeezy partnership. Despite efforts to reduce inventory, soft consumer demand persists. On the brighter side, the Sports Apparel Market is projected to grow from USD 272.51 billion in 2024 to USD 339.76 billion by 2029 at a CAGR of 4.51%, driven by factors like rising health consciousness, demand for enhanced performance apparel, and sustainability trends.
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How might major sports apparel retailers adapt their strategies to navigate the current economic uncertainties?
In what ways could the fusion of sports with fashion revolutionize the sports apparel market and attract a wider consumer base?
What innovative approaches can companies like Peloton, Lululemon, and Dick’s adopt to revitalize their post-pandemic performance?
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