Chinese consumers strongly preferred domestic brands last year and the number of domestic brands among the top 10 rose from four in the third quarter (Q3) of 2020 to six in Q3 last year. Product sales of China’s ANTA Sports Products Ltd. and the FILA brand, acquired by ANTA earlier, increased, both posting double-digit, year-over-year growth rates in Q3 2021.

Notably, domestic brand ERKE’s year-over-year (YoY) growth rate exceeded 400 per cent, a stunning performance, according to a report by the NPD Group.

Measured by sales value in Q3 2021, the YOY growth rate of some leading international brands among the top 10 was negative.

Chinese consumers strongly preferred domestic brands last year and the number of domestic brands among the top 10 rose from four in the third quarter (Q3) of 2020 to six in Q3 last year.Product sales of China’s ANTA Sports Products Ltd. and the FILA brand, acquired by ANTA earlier, increased, both posting double-digit, year-over-year growth rates in Q3 2021.

Sport leisure and performance dominated the sports footwear industry. Sport leisure accounted for 56 per cent of sports footwear sales in Q3 2021 in China. Performance footwear accounted for 41 per cent. All in all, sports footwear e-commerce sales declined slightly in Q3 2021.

Total direct retail transaction value declined by 10 per cent, reflecting the mainland’s conservative luxury consumption.

Luxury consumers generally bought less, but they chose premium brands when they did purchase. The transaction value for the leading premium luxury brands declined by 5.2 per cent, while entry-level brands declined 30 per cent.

Total value per transaction grew by 12 per cent for leading premium brands in China and 5 per cent for entry-level brands. Monthly figures for premium brands decreased in Q3 but increased for entry-level brands. Luxury consumers sustained higher enthusiasm for premium goods.

Fibre2Fashion News Desk (DS)