The Wellness Boom
Wellness has been one of the biggest trends that has reshaped lifestyle with millennials. As they have become one of the more health-conscious demographics, their eating habits and active interests will continue to reflect in their spending. And as the wellness lifestyle is not showing any signs of slowing down, the ath-liesure trend will remain important for retailers.
In February 2017, Euromonitor International, the global market research company, forecast that Wealth and Wellness Will Redefine Ath-Leisure.
• The global activewear business will reach $61 billion by 2021, while the luxury ath- leisure market is well-established, and the sector will transition into functional wardrobe items.
With consumers caring more about wellness, spending will continue to be allocated in different ways within luxury. There has been an increase in luxury gyms and wellness travel such as yoga retreats.
Among affluent’s earning at least $150,000 a year, millennials are more apt to associate health with eating habits and exercising when compared to baby boomers and Gen X-ers. Euromonitor points out that this younger generation is the driving force behind the trend toward wellness.
As consumers, have adapted a more comfortable lifestyle in many different aspects, apparel will continue to reflect this change. When we speak about the athleisure trend evolving, we refer to the cross between fashion and function. Many of the sportswear giants and activewear brands that have recently launched have unique fabric technology that consumers are interested in due to the benefits that they add to apparel. However, as consumers move forward with “on-the-go lifestyles” their needs in apparel require product that can be used for work and after work, either it be gym or errands.
We believe the wellness boom remains strong. We expect the ath-leisure to continue to evolve towards a more fashion forward style and continue to grow within the luxury sector. Brands we expect to benefit from this trend are premium sportswear brands like UAS (NYSE: UA), NIKE Lab (NYSE: NKE), LULU Lab (NASDAQ:LULU), Adidas Originals (ETR:ADS), Fenty Puma by Rihanna (EPA: KER).
Sneakers have a been key when it comes to ath-leisure, primarily retro revivals at Nike and Adidas. The running category has also been strongly resonating with consumers, due to the comfort element. We expect this to continue going forward into the evolution of this trend.
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