The Chinese sporting goods market experienced a surge in sales in 2024, which is partly attributed to the effect of the 2024 Summer Olympics in Paris, local press reported.
The Olympic Games traditionally enjoy strong popularity in China. As calculated by Meituan, a leading online service platform in China, sports-related search requests in July 2024 jumped by 180 percent compared with June 2024. This year, the interest of the country’s population was further fueled by the successful performance of Chinese athletes, who won more events than ever before in Paris and tied with the US for the top spot in the medal standings.
The growth in interest has already translated into some concrete results. For instance, the e-commerce platform Pinduoduo reported a hike in sales of sporting goods in July 2024. As a few examples, the company mentioned sales of shuttlecocks and billiard balls, both of which doubled compared with the previous year.
Sporting goods sales were already on the rise in the run-up to the Paris Olympics. A research institute of online retail giant JD.com estimated that sales of sports chalk, helmets and climbing shoes increased by 151 percent, 42 percent and 40 percent, respectively, in the first half of 2024, compared with the previous year. In addition, sales of swimsuits, leashes and surfboards surged by 473 percent, 175 percent and 40 percent, respectively.
The growth in sporting goods retail seems to go hand in hand with a rise in the popularity of outdoor activities. Tongcheng Travel, a local tour operator, estimated that the value of outdoor tour bookings jumped by 108 percent during the first half of 2024.
The growth is in line with the Chinese government’s expectations. Under the 14th Five-Year Plan for the development of physical culture and sports, the authorities expect the sporting growth industry to reach 5 trillion yuan renminbi (€635bn), with the value of sporting goods sales and sporting goods services to hit RMB2.8 trillion (€355bn).
