Success of the Olympics Sparks Sports Clothing Sales

Saturday 06th of September 2008 12:07:54 AM

Success of the Olympics Sparks Sports Clothing Sales

The Olympics has sparked sports clothing sales despite a sagging economy. The British Olympic team success has inspired consumers to purchase sports and fitness clothing and equipment. Households have been cutting back on spending and only purchasing necessities which has resulted in declining retail sales for durable goods and non-essential house wares. But the Olympics have reversed a downward trend that has lasted for 3 months.

The Experian national retail footfall index actually rose in August by 3.9% when compared to July. The 3.9% reflects an increase of .4% for the prior 12 months. Consumers have been purchasing equipment such as bicycles and exercise equipment. They have also been purchasing fitness clothing including t-shirts, shorts,polo shirts and sweatshirts. Much of the buying has been done online. Online purchases for all purchases have increased by 3.5% from this same time last year compared to this year, whereas sports and fitness online purchases increased 36%.

This increase was welcomed by fitness equipment and clothing retailers who are now hoping the trend continues. An event such as cycling, which was handily won by the British cycling team, has inspired consumers to purchase bicycles. The sales of the BMX are up. Robin Goad of Hitwise said, "It is likely that shopping visits to out-of-town locations were helped by the resurgent interest in sports and fitness products."

There is speculation that retail sales in general will continue to fall as a result of economic conditions. But sports and fitness retailers are hoping the spirit of the Olympics will live on in terms of increased sales in fitness equipment and clothing. Many sports clothing items are inexpensive and so are not as subject to consumer spending cutbacks. Retailers will be anxiously watching to see how consumers respond to credit crunches over the next 12 months.