麦肯锡-体育用品2025——新的平衡法案：将不确定性转化为机遇（英）

Sporting Goods 2025The new balancing act: Turning uncertainty into opportunity Disclaimer: This work is independent, reflects the views of the authors, and has not been commissioned by any business, government, or other institution.Sporting Goods 2025The new balancing act: Turning uncertainty into opportunity ForewordThe World Federation of the Sporting Goods Industry (WFSGI) and McKinsey & Company are proud to present our fifth annual sporting goods industry report, Sporting Goods 2025—The new balancing act: Turning uncertainty into opportunity. Over the past year, the sporting goods industry has persevered through economic volatility, geopolitical tensions, and evolving consumer behavior. Slowing growth forecasts are compelling executives to focus equally on revenue growth and productivity improvements. Our most recent surveys, research, and analyses identified themes that offer both opportunities and challenges. We see a widening activity gap, with the overall share of inactive people increasing while the subset of active consumers further embraces the active lifestyle as part of their identity. At the same time, the competitive landscape is shifting, with challenger brands outpacing large incumbents in revenue growth and market share. Finally, the resurgence of in-person fitness and the blending of live sports and entertainment, including an increase in live sporting events, offer new avenues for growth.As we look to 2025, the sporting goods industry faces a shifting landscape. By taking a balanced approach to granular growth and productivity while focusing on consumer engagement and emphasizing authenticity, companies can turn uncertainty into opportunity and thrive in the new landscape.This report aims to provide the insights and strategies leaders need to navigate these complexities and capitalize on the emerging trends. We invite you to explore the findings and recommendations outlined in this report.2Sporting Goods 2025Table of contentsForeword 2Contributors 4Acknowledgments 6About the research 6Executive summary 7Sporting goods at a glance 2025 10Interview – Jack Daly, CEO, TRX 12Chasing elusive growth and rethinking the value chain 14Interview – Charles Yang, CEO, Victory Group 20Physical inactivity as the biggest untapped market opportunity 22Interview – Rachel Acheson, SVP of enterprise strategy 28and futures innovation, LululemonActive lifestyle as identity 30Interview – Nicola Rosin, CEO, Colnago 36Market share upheaval with large incumbents being challenged to up their game 38Interview – Samuel Wenger, COO, On 44Boom of live sports and blurring lines with entertainment 46Interview – Celine Del Genes, global chief customer officer, Decathlon 52Contacts 543Sporting Goods 2025Gemma D’AuriaMilanGemma D’Auria is a McKinsey senior partner and leader of the firm’s global Apparel, Fashion & Luxury sector. She partners with clients on holistic transformations to accelerate sustainable growth and create lasting change in performance an