Global sportswear industry's media impact value soars in 2022: Report

19 Jul '23

2 min read

Pic: Shutterstock

Insights

Global sportswear industry's media impact value (MIV) surged in 2022, notably in China with a 52 per cent leap to $1.8 billion, as per a recent report by Launchmetrics.
Excluding China, the APAC region also recorded growth, showing a 27 per cent increase.
Influencers were key MIV drivers in China, while media dominated in the rest of the world.

The global sportswear industry experienced considerable growth in media impact value (MIV) in 2022, with some notable regional differences, according to the latest Sportswear Insights report by Launchmetrics.

In 2021, the Americas topped the list in MIV contribution for sportswear, with a staggering $2.5 billion, followed closely by the Europe, Middle East, and Africa (EMEA) region at $2.1 billion. During the same period, China's MIV was reported at $1.2 billion, while the Asia-Pacific (APAC) region, excluding China, came in at $901 million, as per the report.

However, the tables turned dramatically in 2022 as the total MIV for sportswear saw a global rise, generating an additional $2 billion in MIV. China experienced a significant upswing, with MIV skyrocketing by 52 per cent to reach an impressive $1.8 billion. Excluding China, the Asia Pacific (APAC) region also recorded growth, showing a 27 per cent increase and pushing the MIV to $1.1 billion.

The report also examined the types of voices driving the MIV in the global sportswear market and revealed a fascinating contrast between China and the rest of the world. In China, influencers held the mantle as the top voice type steering MIV, pointing to their considerable role in shaping consumer behaviour, brand preferences, and overall engagement with sportswear products.

Conversely, the rest of the world painted a different picture, with media emerging as the dominant voice type contributing to MIV.

ALCHEMPro News Desk (DP)

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