The coronavirus pandemic has closed most of our country. And gyms will probably be the last to reopen once the
Australia’s sportswear and athletic apparel industry has no doubt been doing very well this past year. It has been a trending sector over the last couple of years as growing number of Australians are looking to improve their health and start leading an active lifestyle. More consumers are buying heart rate monitors, sports equipment, and active wear.
Online sportswear has particularly gotten a boost thanks to new technology and more and more people getting more tech savvy. It has been rising at incredible rates already providing Australians with more than 6,792 jobs this year alone. This number is only set to rise as online shopping is proving to become more popular than ever before and it will rise another 14.6%. The athletic apparel retail front is also staying steady and is set to rise another 5.0%. This industry seems to only be growing stronger compared to the previous years with the online athletic apparel industry bringing in 71 million dollars in revenue and sportswear retail bringing in a huge 2 billion dollars. Annual growth is set to rise 8.8% on the retail front and 22.6% on the online front.
The future of this industry looks bright as more and more Australians are looking after their health and seem to be purchasing everything from active wear, heart rate monitors, sports equipment and so on. This is definitely an industry that you should keep an eye on if you are an active investor.
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