Declining sales in China
Exceeded by Lululemon and Anta, Adidas was losing its market share in China as the second global sportswear brands. While Nike holds its lead with more than 170 billion U.S. dollars of market value.
Adidas official sources said its sales in mainland China plunged 35%, and as of the first quarter of 2022, german sportswear giant sales in China have been negative for four consecutive quarters.
An expansion project in China? We can help you!
Who is to blame ?
Adidas CEO Kasper Rorsted attributed the main reason for Adidas’ revenue plunge in Greater China to the covid 19 epidemic (and pandemic restrictions), and admitted that “we don’t know Chinese consumers well enough, so we’re leaving a loophole for competitors, and they are doing a better job.
A Chinese market in constant evolution
Chinese consumers today like (products) to have a ‘Chinese feel’. As we all know, Adidas has always been an energetic and dynamic sports brand. To reinforce brand influence, it needs to integrate popular and youthful elements, initiate topics on social media, approach the new generation and consider their needs.
The Chinese market and young Chinese consumers’ preferences are changing constantly, “Chinese elements” are gaining popularity among young consumers (read this article on Chinese market trends).
The Chinese market challenge
How to localize marketing strategy, reinforce brand image and diversify products are of utmost importance for Adidas now.
What’s your idea of Adidas’ current situation?
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