A new report from Spanish investment firm Comprar Acciones, expects the global activewear market to remain resistant to the economic impact of COVID-19 and reach $353.5 billion in 2020. The firm also expects market to grow at a 3.7 per cent CAGR over the next six years, reaching $439.17 billion by 2026. It further predicts athlesiure sales to account for 31 per cent of apparel revenues in the US in December.

Comprar Acciones also highlights 75 per cent growth in Nike’s online sales during the fourth quarter ending June this year and 82 per cent in the first quarter that ended in August. According to the company, this surge in e-commerce helped offset significant declines in its brick-and-mortar sales during the fourth quarter. There has been 93 per cent increase in e-commerce sales of Adidas in the third quarter and the 66 per cent increase in Puma’s digital sales year to date. The firm reinforces the important role played by the athleisure segment during the pandemic.

NPD predicts athleisure items like sweatpants and sweatshirts will account for 31 per cent of total apparel spending in the US during the 2020 holiday season. It had a 26 per cent share in the 2019 holiday season, the company adds. For example, Gap-owned women’s workout clothes brand Athleta, posted a 35 per cent increase in net sales in the third quarter, while another of its brand Old Navy registered a 55 per cent rise in activewear sales. Abercrombie & Fitch’s women’s loungewear brand, Gilly Hicks posted a double-digit increase in sales in the most recent quarter, thanks to a 100 per cent rise in its online sales.

A Euromonitor and Coresight study cited by Comprar Acciones expects the US athleisure market to decline by 9.2 per cent to reach $105.1 billion in sales in 2020. However, the sector is expected to rebound in 2021, when sales could grow by 7.9 per cent.