High-end sports brands need to cultivate the “three forces”
Recently, Sanfu Outdoor plans to win the exclusive agency rights of a high-end Italian hiking shoe brand in China. Previously, Anta already owned a number of top international sports brands, and Li Ning also showed great generosity in acquisitions. Domestic sports brands are increasingly chasing overseas famous brands, which shows that under the multiple favorable factors such as consumption upgrades, the rise of national trends, and national fitness, more and more domestic sports brands are no longer willing to be “substitutes”, but are accelerating their impact on the mid-to-high-end market. .
The reason why sports brands dare to “rush” is that they are optimistic about the potential growth space of the Chinese market. Data shows that the proportion of people who consume sports and related aspects will reach 96% in 2020, with per capita consumption exceeding 4,000 yuan. As my country’s per capita GDP reaches US$10,000, the potential of the sporting goods market is accelerating. On the other hand, for companies, acquisitions are also an effective way to increase brand value. By acquiring high-end brands, they can directly gain brand value and technological advantages. However, moving sports brands to the mid-to-high end cannot just rely on “buy, buy, buy”. To make sports consumption more dynamic and sustainable, we need to continuously cultivate the “three forces”.
First, technical strength. Sporting goods have strong functional and technological attributes, and productquality is directly related to the health and safety of consumers. Consumers are increasingly paying attention to their technological content when choosing sporting goods. Sports brands should take the road of independent innovation, continuously strengthen the application of new materials, new technologies and new equipment in the field of sports goods manufacturing, and increase investment in product design, production and research and development. Enterprises should be encouraged to jointly create outdoor sporting goods R&D and manufacturing centers with universities and scientific research institutes. Through resource sharing, optimized combination of innovative elements, and major scientific and technological task traction, we can improve the independent research and development capabilities of core technologies and promote emerging technologies from laboratories to production lines.
The second is product affinity. Domestic brands should understand Chinese consumers better. Nowadays, more and more female groups in China are participating in sports, putting forward higher requirements for exquisite equipment; the younger generation of consumers want to be fashionable and cool, and prefer products that can show their personality; in some highly professional sports, there is still a lack of entry-level skills grade products; etc. These changes on the demand side require companies to change the past product supply methods that were not sufficiently classified and targeted, and continue to innovate according to the characteristics of specific groups of people and specific sports. Enterprise development must get rid of over-reliance on a single product, continuously tap into the new needs of Chinese outdoor enthusiasts for sporting goods, and provide a steady stream of inspiration for product design.
The third is brand service capabilities. Some sports brands are accelerating their expansion into the service industry, further enhancing their brand image by supporting sports events, providing sporting goods experiences and other colorful activities. From product manufacturing to sports services is a manifestation of further closeness to the needs of public sports. The sporting goods manufacturing industry is now at a key node of transformation and upgrading. Sports brands exploring the “manufacturing + service” whole industry chain layout is the first step for the sporting goods manufacturing industry to move towards high-quality development. inevitable choice.
In the context of consumption upgrading, the strategies of “small profits but quick turnover” and “low-price competition” are unsustainable. It is the need for strategic upgrading for sports brands to take the high-end route. Taking this step well can also help companies reach higher goals. However, the connotation of high-end brands should not only be high prices, but also high value. How to make consumers willing to pay for the high premium brought by brand upgrades and how to seize the commanding heights of the global sports industry chain are topics that companies need to think deeply about.
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