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Sporting goods industry trends for 2024 | McKinsey

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Our 2024 report looks at how the improving market and new consumer trends will create industry opportunities." name="twitter:description"/><meta content="Article" property="contenttype" name="contenttype"/><meta content="https://www.mckinsey.com/~/media/mckinsey/industries/retail/our%20insights/sporting%20goods%20industry%20trends/2024/sportinggoods-1535x1535.jpg?mw=677&amp;car=42:25" name="twitter:image"/><meta content="Time to move: Sporting goods 2024" name="twitter:image:alt"/><meta content="true" name="mobileready"/><meta content="public" name="accesslevel"/><meta content="false" name="excludefromclientlink"/><meta content="report" name="articletype"/><meta content="Sabine Becker | Gemma DAuria | Sajal Kohli | Alexander Thiel" name="authors-name"/><meta content="2024-01-30T00:00:00Z" name="itemdate"/><meta content="Consumer &amp; Retail | Report | January 30, 2024" name="searchresults-tags"/><script type="application/ld+json">{"@context":"https://schema.org","@type":"Article","url":"https://www.mckinsey.com","publisher":{"@type":"Organization","name":"McKinsey & Company","logo":{"@type":"ImageObject","url":"https://www.mckinsey.com/~/media/Thumbnails/Mck_Logo"}},"mainEntityOfPage":{"@type":"WebPage","@id":"https://www.mckinsey.com/industries/retail/our-insights/sporting-goods-industry-trends"},"datePublished":"2024-01-30T00:01:00Z","dateCreated":"2024-01-30T04:29:19Z","dateModified":"2024-01-30T00:00:00Z","heading":"Time to move: Sporting goods 2024","image":"https://www.mckinsey.com/~/media/mckinsey/industries/retail/our%20insights/sporting%20goods%20industry%20trends/2024/sportinggoods-1535x1535.jpg","description":"Sporting goods companies have reason for optimism. 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data-component="mdc-c-module-wrapper" data-module-theme="dark" data-module-background="deep-blue" data-module-category="AnchoredHero" class="ArticleDefault_mck-c-article-default__SfYQE"><style></style><div data-component="mdc-c-background-image" class="mdc-c-bg-image___GJdv1_2734c4f background-image-article-default ArticleDefault_mck-c-article-default__parallax-container__fZ7Iq"></div><div class="ArticleDefault_mck-c-article-default__gradient__Uu21n"></div><div class="ArticleDefault_mck-c-article-default__wrapper-content__XOe9C"><div class="mck-o-container"><div class="mck-o-container--wrapped mck-o-container--mobile-spacing mdc-u-grid mdc-u-grid-col-lg-12"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f mdc-u-grid-col-lg-start-1 mdc-u-grid-col-lg-span-10"><div><h1 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-u-ts-2 mck-u-animation-slide-down ArticleDefault_mck-c-article-default__heading__bv6rL"><div>Time to move: Sporting goods 2024</div></h1></div><div data-component="mdc-c-description" class="mdc-c-description___SrnQP_2734c4f mdc-u-ts-10 mck-u-animation-blur-in-800 ArticleDefault_mck-c-article-default__description__sjoe9"><div><time datetime="2024-01-30T00:00:00Z">January 30, 2024</time> | Report</div></div></div></div></div></div></div><div class="mck-o-container"><div class="mck-o-container--wrapped mck-o-container--mobile-spacing mdc-u-grid mdc-u-grid-gutter-xxl"><section data-layer-region="article-body-header" class="mdc-u-grid mdc-u-grid-col-md-12 mck-u-animation-blur-in-400 byline-share-container"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-8 mdc-u-grid-col-lg-start-3 mdc-u-grid-col-lg-end-8 mdc-u-ts-9"><span> </span><span class="AuthorsByLine_mck-c-authors-byline__author__XdrlD"><span class="AuthorsByLine_mck-c-authors-byline__no-wrap__Ced0j">Sabine Becker<!-- --> </span></span><span class="AuthorsByLine_mck-c-authors-byline__author__XdrlD"><span class="AuthorsByLine_mck-c-authors-byline__no-wrap__Ced0j"><a data-component="mdc-c-link" href="/our-people/gemma-d-auria" class="mdc-c-link-inline___7DRrt_2734c4f mdc-c-link-inline--secondary___YKoOK_2734c4f"><span class="mdc-c-link__label___Pfqtd_2734c4f">Gemma D’Auria</span></a> </span></span><span class="AuthorsByLine_mck-c-authors-byline__author__XdrlD"><span class="AuthorsByLine_mck-c-authors-byline__no-wrap__Ced0j"><a data-component="mdc-c-link" href="/our-people/sajal-kohli" class="mdc-c-link-inline___7DRrt_2734c4f mdc-c-link-inline--secondary___YKoOK_2734c4f"><span class="mdc-c-link__label___Pfqtd_2734c4f">Sajal Kohli</span></a><span>  </span></span></span><span class="AuthorsByLine_mck-c-authors-byline__author__XdrlD"><span class="AuthorsByLine_mck-c-authors-byline__no-wrap__Ced0j"><a data-component="mdc-c-link" href="/our-people/alexander-thiel" class="mdc-c-link-inline___7DRrt_2734c4f mdc-c-link-inline--secondary___YKoOK_2734c4f"><span class="mdc-c-link__label___Pfqtd_2734c4f">Alexander Thiel</span></a></span></span></div><div class="mdc-u-grid-col-md-start-8 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-8 mdc-u-grid-col-lg-end-11 ArticleContent_mck-c-article-content__share-tools__kWRRw"></div></section><section class="mdc-u-grid mdc-u-grid-col-md-12 mck-u-animation-blur-in-400"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-3 mdc-u-grid-col-lg-end-11"><div data-component="mdc-c-description" class="mdc-c-description___SrnQP_2734c4f mdc-u-ts-5"><div class="mck-u-links-inline">Many sporting goods executives are looking to 2024 with more optimism. But in the year ahead, they will need to adapt to shifting consumer preferences, revisit planning practices, embrace ecosystems, and take action on sustainability.</div></div></div></section><main data-layer-region="article-body" class="mdc-u-grid mdc-u-grid-gutter-xxl"><div class="mdc-u-grid mdc-u-grid-col-1 mdc-u-grid-col-md-12"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-3 mdc-u-grid-col-lg-end-11"><div class="mdc-o-content-body mck-u-dropcap"> <div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="DownloadsSidebar_mck-c-downloads-sidebar__iFmyt mck-o-xs-right-span"><div data-layer-region="downloads-right-rail"><h3 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-c-heading--title___5qyOB_2734c4f mdc-c-heading--border___K8dj3_2734c4f"></h3><div><div data-component="mdc-c-link-container" class="mdc-c-link-container___xefGu_2734c4f"><a data-component="mdc-c-link" href="#/download/%2F~%2Fmedia%2Fmckinsey%2Findustries%2Fretail%2Four%20insights%2Fsporting%20goods%20industry%20trends%2F2024%2Ftime-to-move-sporting-goods-full-report-2024.pdf%3FshouldIndex%3Dfalse" class="DownloadsSidebar_mck-c-downloads-sidebar__download-link__fPqFQ mdc-c-link___lBbY1_2734c4f" target="_self" data-layer-event-prefix="Download Link" data-layer-action="click" data-layer-report-type="" data-layer-file-name="time-to-move-sporting-goods-full-report-2024" data-layer-report-name="time-to-move-sporting-goods-full-report-2024&gt;"><span data-component="mdc-c-icon" class="mdc-c-icon___oi7ef_2734c4f mdc-c-icon--size-md___yi5fA_2734c4f mck-download-icon"></span><span class="mdc-c-link__label___Pfqtd_2734c4f"> (68 pages)</span></a></div></div></div></div> <p><strong>As the world continued </strong>its uneven progress in 2023, the sporting goods industry faced familiar challenges. Economic headwinds, persistent inflation, and regional conflicts undermined consumer confidence, while companies continued to struggle with inventories—mainly overstocking, because anticipated demand failed to materialize. But the industry demonstrated its resilience again. Revenue growth in 2023 was 6 percent (compared with 2 percent in 2022) amid stronger performance across geographies.<span class="FootNote_footnote-holder__tjRqy"><a aria-label="footnote" href="javascript:void(0);" class="FootNote_footnote-wrapper__AIRwL undefined FootNote_inactive__VZfCp" aria-describedby="fb23f2f7-c8a9-4148-beef-9719a13bd9f3"><sup class="FootNote_footnotesup__e73z_">1</sup><span class="FootNote_notch-wrapper__b_5NS"><span class="FootNote_notch__omKtY"></span></span><span class="FootNote_tooltip__QtrbA mdc-u-mt-2"><span class="FootNote_footnote-content__r2OVl"><span id="fb23f2f7-c8a9-4148-beef-9719a13bd9f3" aria-hidden="true" data-module-theme="light" class="FootNote_footnote-text__VjKgO mck-u-links-inline">Euromonitor, October 2023.</span></span></span></a></span></p> <!-- --> <p>As we begin 2024, this report highlights a renewed sense of optimism among industry leaders. This reflects opportunities arising from an improving market environment and new consumer preferences. More people are choosing sports that are quicker to pick up, require less commitment, and are more social, rather than organized sports with fixed time commitments or requirements for teams or high levels of skill. Participation as a driver has become as important as performance. And after supply–demand imbalances in the recent period, companies are turning to integrated business planning and analytics to help them navigate more volatile times. Meanwhile, sporting ecosystems and the demands of sustainability offer potential for innovation. With these themes in mind, this year’s sporting goods report paints a picture of an industry at a pivotal moment, facing not only challenges but also opportunities to achieve sustained growth.</p> <h2>Review of the past year and looking ahead</h2> <p>The past year was one in which regional differences were prominent. Companies in Western Europe posted growth of 8 percent, a strong rebound from the 3 percent decline the previous year, while the industry in Asia–Pacific saw income rise 11 percent after a 4 percent decline in 2022. North American companies followed 6 percent growth in 2022 with growth of 2 percent. Latin America, meanwhile, was the standout performer, with growth of 22 percent after 20 percent growth the previous year.<span class="FootNote_footnote-holder__tjRqy"><a aria-label="footnote" href="javascript:void(0);" class="FootNote_footnote-wrapper__AIRwL undefined FootNote_inactive__VZfCp" aria-describedby="15f62e03-a1d1-4aa9-b223-f40e32858ce7"><sup class="FootNote_footnotesup__e73z_">2</sup><span class="FootNote_notch-wrapper__b_5NS"><span class="FootNote_notch__omKtY"></span></span><span class="FootNote_tooltip__QtrbA mdc-u-mt-2"><span class="FootNote_footnote-content__r2OVl"><span id="15f62e03-a1d1-4aa9-b223-f40e32858ce7" aria-hidden="true" data-module-theme="light" class="FootNote_footnote-text__VjKgO mck-u-links-inline">Euromonitor, October 2023.</span></span></span></a></span></p> <div data-component="mdc-c-module-wrapper" data-module-theme="light" data-module-background="lightest-grey" data-module-category="" data-module-gradient-position="bottom-right" class="mck-c-inline-module-container SideBar_mck-c-sidebar__bgimg-wrapper__Qj4Dt mck-o-sm-left-span SideBar_mck-c-sidebar__sidebar-wrapper__Dpjw2 SideBar_mck-c-sidebar__sidebar-wrapper--istablet__IQ6ii mck-u-screen-only mck-c-module-wrapper" data-layer-region="sidebar"><div class="SideBar_mck-c-sidebar__epoAm mck-o-md-center"><div class="SideBar_mck-c-sidebar__share-icons-wrapper__9gB_c"><div data-component="mdc-c-link-container" class="mdc-c-link-container___xefGu_2734c4f mdc-c-link-container--display-column___X0HDD_2734c4f SideBar_mck-c-sidebar__share-icons___eQy6"><div data-component="mdc-c-dropdown-menu" class="mdc-c-drop-down"><button data-component="mdc-c-button" aria-label="" type="button" id="button_id" class="mdc-c-button___U4iY2_2734c4f mdc-c-button--ghost mdc-c-button--size-medium mdc-c-drop-down__rootmenu___yJzvz_2734c4f" aria-expanded="false" aria-haspopup="menu"><span data-component="mdc-c-icon" class="mdc-c-icon___oi7ef_2734c4f mdc-c-icon--default___f-hQM_2734c4f mdc-c-icon--size-md___yi5fA_2734c4f mck-share2-icon"></span></button><div data-component="mdc-c-module-wrapper" data-module-theme="light" data-module-background="white" data-module-category="" class=""></div></div><button data-component="mdc-c-button" aria-label="Expandable Sidebar" type="button" id="button_id" class="mdc-c-button___U4iY2_2734c4f mdc-c-button--ghost mdc-c-button--size-medium SideBar_mck-c-sidebar__toggle-btn__EL8iE" aria-expanded="false" data-layer-event-prefix="UI Item" data-layer-action="click" data-layer-category="sidebar" data-layer-subcategory="open" data-layer-text="open sidebar"><span data-component="mdc-c-icon" class="mdc-c-icon___oi7ef_2734c4f mdc-c-icon--radial___y3csX_2734c4f mdc-c-icon--size-xxl___cL3ZT_2734c4f mck-plus-no-circle-icon"></span></button></div></div><div class="SideBar_mck-c-sidebar__content-outer__UdWCq"><div class="SideBar_mck-c-sidebar__eyebrow__5GSEq"></div><div class="SideBar_mck-c-sidebar__content__raEwe"><h2 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-u-ts-3 SideBar_mck-c-sidebar__content-heading__NJekY"><div>A report on the global sporting goods industry</div></h2><div class="SideBar_mck-c-sidebar__content-description__4p9iI mdc-u-ts-7"><div class="mdc-o-content-body"><p>The World Federation of the Sporting Goods Industry (WFSGI) and McKinsey are proud to continue our partnership to present our fourth annual sporting goods industry report, <em>Time to move: Sporting goods 2024</em>. The report dives into the dynamics driving performance in the sporting goods market and presents insights from some of the industry’s most senior players. As in past editions, we focus on the key trends that have affected the industry over the past year and will shape performance in the coming year and beyond. This article summarizes some of the report’s findings.</p></div></div></div></div></div></div> <p>The industry’s super winners, which are companies that have consistently grown revenues and expanded margins since 2017, maintained their momentum in 2023. The group outperformed the market by focusing on attractive categories and employing smart go-to-market strategies to inspire and engage with consumers. These leaders exemplified the merits of a balanced portfolio, with retail innovation, trend-responsive branding, and cost-effective manufacturing among the pillars that supported growth.</p> <p>There were also notable variations in the competitive landscape. For example, competition intensified in China, with global titans losing their edge to local players, which had a market share of about 60 percent among the top 20 brands. Conversely, in Latin America, global players continued to dominate, with a share of about 90 percent amid a strong soccer and tennis focus.</p> <div data-module-category="" class="PullQuote_mck-c-pullquote__DbaQ5 mck-o-lg-center"><blockquote data-component="mdc-c-blockquote" class="PullQuote_mck-c-blockquote__6n21p mdc-c-blockquote mdc-c-blockquote--is-quotes___TozKo_2734c4f"><p>In 2023, macro factors including geopolitical conflict, inflation, and consumer conservatism, as well as inventory challenges, have made for a bumpy year and required companies to allocate more resources to promotional activities. That said, we continue to manage things in our control to the best of our ability and remain optimistic due to the enduring trend of fitness and health and our long-term growth potential, especially given our brand’s strong positioning.</p><cite class="mdc-c-blockquote__cite-container"><div class="mdc-c-blockquote__author-name___u4L7-_2734c4f">Stephanie Linnartz, president and CEO, Under Armour</div></cite></blockquote></div> <p>Looking ahead, the industry is set to continue its steady growth: analysts estimate CAGR of about 7 percent by 2027 (Exhibit 1).</p> <div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="mck-c-inline-module-container mck-o-md-center"><div class="mdc-u-grid mdc-u-grid-gutter-lg mdc-u-grid-col-sm-1 mdc-u-grid--align-start mdc-u-mb-3 GenericItem_mck-c-generic-item__sGwKL"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f mdc-u-grid-gutter-xs GenericItem_mck-c-generic-item__content__gq1m0"><div class="mck-c-eyebrow mdc-u-ts-10"><span> 1</span></div></div></div><div class="mck-u-inline-module-border-top mck-u-inline-module-border-bottom"><picture data-component="mdc-c-picture" class="Exhibit_mck-c-exhibit__image__pyIDm"><source media="(min-width: 768px)" srcSet="/~/media/mckinsey/industries/retail/our%20insights/sporting%20goods%20industry%20trends/2024/svgz-sportinggoods-exh1.svgz?cq=50&amp;cpy=Center"/><img alt="The global sportswear industry is predicted to grow 7 percent by 2027." src="/~/media/mckinsey/industries/retail/our%20insights/sporting%20goods%20industry%20trends/2024/svgz-sportinggoods-exh1.svgz?cq=50&amp;cpy=Center" loading="lazy"/></picture></div><div class="mck-u-sr-only"></div></div> <h2>Rising levels of polarization</h2> <p>In an unpredictable market environment, a key trend is rising levels of polarization, with some companies performing much better than others. About a third of sporting goods companies have grown revenues and widened margins since 2017, forming an elite group of winners that consistently outperform the wider market. On average, this group has achieved organic growth of five percentage points and margin improvements of three percentage points over the period. Conversely, about a quarter of companies have been margin-accretive laggards—in other words, they have lifted margins but not revenues. About 10 percent are dilutive laggards, seeing strong revenue performance (more than 15 percent) but slightly negative margin performance (two percentage points on average). We expect this polarization theme to persist in the future.</p> <div data-module-category="" class="PullQuote_mck-c-pullquote__DbaQ5 mck-o-lg-center"><blockquote data-component="mdc-c-blockquote" class="PullQuote_mck-c-blockquote__6n21p mdc-c-blockquote mdc-c-blockquote--is-quotes___TozKo_2734c4f"><p>I think the difficult thing in the current environment is that so many variables are changing at one time—COVID-19–related shutdowns, supply chain disruptions, geopolitical uncertainty, and inflation. Getting into this season, most brands and retailers built too much inventory, so 2024 is therefore going to be a little bit of a clean-up year.</p><cite class="mdc-c-blockquote__cite-container"><div class="mdc-c-blockquote__author-name___u4L7-_2734c4f">Hugo Maurstad, managing partner, Monte Rosa Capital</div></cite></blockquote></div> <h2>Sporting goods trends for 2024</h2> <p>In the first chapter of the report, we highlight an improving industry outlook, with about 90 percent of sporting goods leaders anticipating stability or improvements in sales and margins, according to the McKinsey and World Federation of the Sporting Goods Industry (WFSGI) Sporting Goods Industry Report Survey 2023. Still, industry leaders are not universally optimistic, amid persistent concern over inflation and overstocking. Eighty-one percent of respondents to this year’s survey say inflation and inventory levels and cost of capital are a continuing challenge, and 50 percent worry about attracting talent and the pressing imperative to become more sustainable. In addition, economic headwinds may still apply. In China, for example, 2023 marked a recovery from a tough 2022, but many Chinese consumers will likely trade down in 2024 as tough economic conditions persist.</p> <p>In the remaining four chapters of this year’s report, we dive into the key themes that will likely appear on executive agendas in the year ahead:</p> <p>1. <em>Shifting consumer preferences and generational opportunities.</em> Consumer confidence remains subdued, but the sporting goods sector has shown it can be resilient, with many companies relatively immune to downtrading. That said, brand loyalty is declining. Also, consumer behaviors are moving away from organized sports and toward options that are more accessible. This pivot presents new avenues to growth, particularly in segments such as pickleball and paddle tennis (159 percent growth from 2019 to 2022) and off-course golf (57 percent growth from 2019 to 2022), which have seen surges in popularity (Exhibit 2).</p> <div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="mck-c-inline-module-container mck-o-md-center"><div class="mdc-u-grid mdc-u-grid-gutter-lg mdc-u-grid-col-sm-1 mdc-u-grid--align-start mdc-u-mb-3 GenericItem_mck-c-generic-item__sGwKL"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f mdc-u-grid-gutter-xs GenericItem_mck-c-generic-item__content__gq1m0"><div class="mck-c-eyebrow mdc-u-ts-10"><span> 2</span></div></div></div><div class="mck-u-inline-module-border-top mck-u-inline-module-border-bottom"><picture data-component="mdc-c-picture" class="Exhibit_mck-c-exhibit__image__pyIDm"><source media="(min-width: 768px)" srcSet="/~/media/mckinsey/industries/retail/our%20insights/sporting%20goods%20industry%20trends/2024/svgz-sportinggoods-exh2.svgz?cq=50&amp;cpy=Center"/><img alt="Consumers are shifting to more-accessible sports." src="/~/media/mckinsey/industries/retail/our%20insights/sporting%20goods%20industry%20trends/2024/svgz-sportinggoods-exh2.svgz?cq=50&amp;cpy=Center" loading="lazy"/></picture></div><div class="mck-u-sr-only"></div></div> <p>In addition, there is a generational shift in progress, with some older demographics spending more time and money on their favorite sports and hobbies. However, demographic dynamics vary across regions, suggesting brands will need to craft age-inclusive strategies to suit their constituencies.</p> <div data-module-category="" class="PullQuote_mck-c-pullquote__DbaQ5 mck-o-lg-center"><blockquote data-component="mdc-c-blockquote" class="PullQuote_mck-c-blockquote__6n21p mdc-c-blockquote mdc-c-blockquote--is-quotes___TozKo_2734c4f"><p>Our product range at Nike isn’t just about catering to a specific age group—it’s more about accessibility. We want to ensure that whether someone is a jogger, walker, marathon runner, or just looking to stay active, they find something in our range that suits their needs.</p><cite class="mdc-c-blockquote__cite-container"><div class="mdc-c-blockquote__author-name___u4L7-_2734c4f">Vanessa Garcia-Brito, VP, chief social & community impact officer, Nike</div></cite></blockquote></div> <p>2. <em>Planning, planning, planning.</em> Inventory management remains a pressing challenge as companies grapple with overstocking and demand volatility. The rising cost of capital further complicates the outlook, compelling companies to reevaluate their established planning processes. The key to being prepared lies in integrated business planning, which can significantly improve coordination and reduce the number of surprises. Still, effective implementation requires new governance approaches and cross-functional alignments as well as standardized inputs and outputs. Companies can combine these with AI and machine learning to generate more precise end-to-end planning and forecasting (Exhibit 3).</p> <div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="mck-c-inline-module-container mck-o-md-center"><div class="mdc-u-grid mdc-u-grid-gutter-lg mdc-u-grid-col-sm-1 mdc-u-grid--align-start mdc-u-mb-3 GenericItem_mck-c-generic-item__sGwKL"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f mdc-u-grid-gutter-xs GenericItem_mck-c-generic-item__content__gq1m0"><div class="mck-c-eyebrow mdc-u-ts-10"><span> 3</span></div></div></div><div class="mck-u-inline-module-border-top mck-u-inline-module-border-bottom"><picture data-component="mdc-c-picture" class="Exhibit_mck-c-exhibit__image__pyIDm"><source media="(min-width: 768px)" srcSet="/~/media/mckinsey/industries/retail/our%20insights/sporting%20goods%20industry%20trends/2024/svgz-sportinggoods-exh3.svgz?cq=50&amp;cpy=Center"/><img alt="Leaders plan to focus on new planning systems and standardizing and formalizing planning processes." src="/~/media/mckinsey/industries/retail/our%20insights/sporting%20goods%20industry%20trends/2024/svgz-sportinggoods-exh3.svgz?cq=50&amp;cpy=Center" loading="lazy"/></picture></div><div class="mck-u-sr-only"></div></div> <div data-module-category="" class="PullQuote_mck-c-pullquote__DbaQ5 mck-o-lg-center"><blockquote data-component="mdc-c-blockquote" class="PullQuote_mck-c-blockquote__6n21p mdc-c-blockquote mdc-c-blockquote--is-quotes___TozKo_2734c4f"><p>The last three and a half years for us and the rest of the industry has been super hard on supply chain and planning. … We’re now embarking on a new system for integrated planning. It’s an end-to-end planning system to connect our entire supply chain and continue to deliver the right inventory at the right time.</p><cite class="mdc-c-blockquote__cite-container"><div class="mdc-c-blockquote__author-name___u4L7-_2734c4f">Dan Sheridan, chief operating officer, Brooks Running</div></cite></blockquote></div> <p>3. <em>From sustainability targets to actions.</em> Regulation and corporate action are supporting nations and regions in setting and meeting their sustainability targets. In China, the European Union, and the United States, there is increasing government support for funding that will drive the energy transition.</p> <p>Many sporting goods brands, including smaller companies, are now stepping up, not only setting ambitious targets but also seeking to address social and governance issues in their operations and supply chains. These steps reflect rising consumer demand for more sustainable offerings. For example, consumers increasingly value products that use organic or sustainable input materials—and are often willing to pay a premium for them. While many companies are making progress, others are still at the starting blocks. Ten impact areas along the value chain and specific initiatives in each can help companies move forward. These range from new business models to initiatives that may boost consumer awareness, and companies can assess each of these through the lens of a cost abatement curve (Exhibit 4).</p> <div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="mck-c-inline-module-container mck-o-md-center"><div class="mdc-u-grid mdc-u-grid-gutter-lg mdc-u-grid-col-sm-1 mdc-u-grid--align-start mdc-u-mb-3 GenericItem_mck-c-generic-item__sGwKL"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f mdc-u-grid-gutter-xs GenericItem_mck-c-generic-item__content__gq1m0"><div class="mck-c-eyebrow mdc-u-ts-10"><span> 4</span></div></div></div><div class="mck-u-inline-module-border-top mck-u-inline-module-border-bottom"><picture data-component="mdc-c-picture" class="Exhibit_mck-c-exhibit__image__pyIDm"><source media="(min-width: 768px)" srcSet="/~/media/mckinsey/industries/retail/our%20insights/sporting%20goods%20industry%20trends/2024/svgz-sportinggoods-exh4.svgz?cq=50&amp;cpy=Center"/><img alt="Ten impact areas along the abatement curve can help smaller sporting goods companies prioritize sustainability actions." src="/~/media/mckinsey/industries/retail/our%20insights/sporting%20goods%20industry%20trends/2024/svgz-sportinggoods-exh4.svgz?cq=50&amp;cpy=Center" loading="lazy"/></picture></div><div class="mck-u-sr-only"></div></div> <p>4. <em>Playing the sports ecosystem game.</em> In the wake of some companies embracing direct-to-consumer business models, the past year has seen a renewed focus on wholesale partnerships, reflecting the understanding that consumers prefer to shop in multibrand environments. Going a step further, an increasing number of companies are embracing explicit ecosystem strategies, taking their thinking beyond channel coverage and product assortments. This reflects the fact that technological advancements and health trends are driving a shift in consumer demand from individual products to comprehensive health- and activity-centered solutions.</p> <p>Companies alone cannot meet all consumer needs. But they can meet those needs through networks of companies that serve some element of the customer journey, from opportunity discovery to planning and preparing, traveling, participation, and recovery (Exhibit 5). McKinsey research shows that the activities within these steps that customers value most include finding similarly minded people, shaping products to their specific needs, obtaining insurance to reduce risks, liaising with travel agencies, and receiving support during activities.<span class="FootNote_footnote-holder__tjRqy"><a aria-label="footnote" href="javascript:void(0);" class="FootNote_footnote-wrapper__AIRwL undefined FootNote_inactive__VZfCp" aria-describedby="f080e7e0-4eca-4210-ae6d-100c3e8fb062"><sup class="FootNote_footnotesup__e73z_">3</sup><span class="FootNote_notch-wrapper__b_5NS"><span class="FootNote_notch__omKtY"></span></span><span class="FootNote_tooltip__QtrbA mdc-u-mt-2"><span class="FootNote_footnote-content__r2OVl"><span id="f080e7e0-4eca-4210-ae6d-100c3e8fb062" aria-hidden="true" data-module-theme="light" class="FootNote_footnote-text__VjKgO mck-u-links-inline">McKinsey Ecosystem Strategy Hub; McKinsey Consumer Community Survey, September 2023, n = 322 (Germany and the UK).</span></span></span></a></span> Ecosystems enable companies to cater to these demands.</p> <div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="mck-c-inline-module-container mck-o-md-center"><div class="mdc-u-grid mdc-u-grid-gutter-lg mdc-u-grid-col-sm-1 mdc-u-grid--align-start mdc-u-mb-3 GenericItem_mck-c-generic-item__sGwKL"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_2734c4f mdc-u-grid-gutter-xs GenericItem_mck-c-generic-item__content__gq1m0"><div class="mck-c-eyebrow mdc-u-ts-10"><span> 5</span></div></div></div><div class="mck-u-inline-module-border-top mck-u-inline-module-border-bottom"><picture data-component="mdc-c-picture" class="Exhibit_mck-c-exhibit__image__pyIDm"><source media="(min-width: 768px)" srcSet="/~/media/mckinsey/industries/retail/our%20insights/sporting%20goods%20industry%20trends/2024/svgz-sportinggoods-exh5-v2.svgz?cq=50&amp;cpy=Center"/><img alt="Companies can address pain points along the customer journey." src="/~/media/mckinsey/industries/retail/our%20insights/sporting%20goods%20industry%20trends/2024/svgz-sportinggoods-exh5-v2.svgz?cq=50&amp;cpy=Center" loading="lazy"/></picture></div><div class="mck-u-sr-only"></div></div> <p>The report identifies five levers for value generation in an ecosystem environment: new subscription revenues, lower customer-acquisition costs, cross-selling, commissions, and operational efficiencies.</p> <hr/> <p>The past year has marked a period of recalibration for the sporting goods industry, with an uneven recovery and persistent challenges. Looking ahead, we believe the most successful players will innovate to address shifting consumer demands, manage supply chain complexity, streamline operations, and seize opportunities in emerging markets and ecosystems. Through efforts in these areas and a sharp focus on execution, the industry will be well positioned to continue its positive trajectory.</p> <p>Download <em><a href="https://www.mckinsey.com/industries/retail/our-insights/sporting-goods-industry-trends#/download/%2F~%2Fmedia%2Fmckinsey%2Findustries%2Fretail%2Four%20insights%2Fsporting%20goods%20industry%20trends%2F2024%2FTime-to-move-Sporting-Goods-Full-Report-2024.pdf%3FshouldIndex%3Dfalse">Time to move: Sporting goods 2024</a></em>, the full report on which this article is based.</p></div><div class="container-placeholder"></div></div></div><div class="mdc-u-grid mdc-u-grid-gutter-xl"><section role="contentinfo" data-layer-region="article-about-authors" class="mdc-u-grid mdc-u-grid-col-md-12 AboutAuthor_mck-c-about-author__nRJzu"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-3 mdc-u-grid-col-lg-end-11"><h5 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-c-heading--title___5qyOB_2734c4f mdc-c-heading--border___K8dj3_2734c4f mdc-u-align-center"></h5><div data-component="mdc-c-description" class="mdc-c-description___SrnQP_2734c4f mdc-u-ts-8 mck-u-links-inline mck-u-links-inline--secondary mdc-u-mt-5"><div><p><strong>Sabine Becker</strong> is an associate partner in McKinsey&rsquo;s Zurich office, where <strong><a href="/our-people/alexander-thiel">Alexander Thiel</a></strong>&nbsp;is a partner; <strong><a href="/our-people/gemma-d-auria">Gemma D&rsquo;Auria</a></strong> is a senior partner in the Milan office; and <strong><a href="/our-people/sajal-kohli">Sajal Kohli</a></strong>&nbsp;is a senior partner in the Chicago office. </p> <p>The authors wish to thank Rajat Agarwal, Becca Coggins, Asina de Branche, Karl-Hendrik Magnus, Olga Ostromecka, Daniel Zipser, all members of WFSGI, and the many industry experts who generously shared their perspectives during interviews for this article.</p></div></div></div></section><section class="mdc-u-grid mdc-u-grid-col-md-12 mck-u-screen-only"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-5 mdc-u-grid-col-lg-end-9"><h5 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-c-heading--title___5qyOB_2734c4f mdc-c-heading--border___K8dj3_2734c4f mdc-u-align-center">Explore a career with us</h5><div data-component="mdc-c-link-container" class="mdc-c-link-container___xefGu_2734c4f mdc-c-link-container--align-center___ar3mu_2734c4f"><a data-component="mdc-c-link" href="/careers/search-jobs" class="mdc-c-button___U4iY2_2734c4f mdc-c-button--secondary___Boipq_2734c4f mdc-c-button--size-large___jwpUy_2734c4f" aria-label="Search Openings" data-layer-event-prefix="CTA Link" data-layer-action="click" data-layer-category="careers" data-layer-subcategory="search" data-layer-text="Search Openings"><span class="mdc-c-link__label___Pfqtd_2734c4f">Search Openings</span></a></div></div></section></div></main></div><div data-component="mdc-c-module-wrapper" data-module-theme="light" data-module-background="lightest-grey" data-module-category="StandalonePromo" class="RelatedArticle_mck-c-article-related__GGA76 mck-u-screen-only" data-layer-region="related-articles"><div class="mdc-o-container__wrapper is-wrapped mdc-u-spaced-mobile"><h5 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_2734c4f mdc-c-heading--title___5qyOB_2734c4f mdc-u-align-center">Related Articles</h5><div class="mdc-u-grid mdc-u-grid-col-md-3 RelatedArticle_items-container__s2uD0"><div class="mdc-u-grid mdc-u-grid-gutter-lg Card_card__diA2r Card_hover-effect__RGb9b"><div class="Card_wrapper-image__8b4P6"><a data-component="mdc-c-link" href="/industries/consumer-packaged-goods/our-insights/the-trends-defining-the-1-point-8-trillion-dollar-global-wellness-market-in-2024" class="mdc-c-link___lBbY1_2734c4f"><picture data-component="mdc-c-picture" class="Card_wrapper-image__8b4P6"><style>.picture-uniqueKey-thet-0 { aspect-ratio: 16/9 }</style><img alt="A twisty branch floating though a ring with 2 marbles balancing on each side. 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But in the year ahead, they will need to adapt to shifting consumer preferences, revisit planning practices, embrace ecosystems, and take action on sustainability."}},"sEODescription":{"value":"Sporting goods companies have reason for optimism. Our 2024 report looks at how the improving market and new consumer trends will create industry opportunities."},"displayDate":{"jsonValue":{"value":"2024-01-30T00:00:00Z"}},"body":{"value":"[[Audio 1]]\n[[DownloadsSidebar]]\n\u003cp\u003e\u003cstrong\u003eAs the world continued \u003c/strong\u003eits uneven progress in 2023, the sporting goods industry faced familiar challenges. Economic headwinds, persistent inflation, and regional conflicts undermined consumer confidence, while companies continued to struggle with inventories\u0026mdash;mainly overstocking, because anticipated demand failed to materialize. But the industry demonstrated its resilience again. Revenue growth in 2023 was 6 percent (compared with 2 percent in 2022) amid stronger performance across geographies.[[footnote 1]]\u003c/p\u003e\n[[MostPopularArticles 5]]\n\u003cp\u003eAs we begin 2024, this report highlights a renewed sense of optimism among industry leaders. This reflects opportunities arising from an improving market environment and new consumer preferences. More people are choosing sports that are quicker to pick up, require less commitment, and are more social, rather than organized sports with fixed time commitments or requirements for teams or high levels of skill. Participation as a driver has become as important as performance. And after supply\u0026ndash;demand imbalances in the recent period, companies are turning to integrated business planning and analytics to help them navigate more volatile times. Meanwhile, sporting ecosystems and the demands of sustainability offer potential for innovation. With these themes in mind, this year\u0026rsquo;s sporting goods report paints a picture of an industry at a pivotal moment, facing not only challenges but also opportunities to achieve sustained growth.\u003c/p\u003e\n\u003ch2\u003eReview of the past year and looking ahead\u003c/h2\u003e\n\u003cp\u003eThe past year was one in which regional differences were prominent. Companies in Western Europe posted growth of 8 percent, a strong rebound from the 3 percent decline the previous year, while the industry in Asia\u0026ndash;Pacific saw income rise 11 percent after a 4 percent decline in 2022. North American companies followed 6 percent growth in 2022 with growth of 2 percent. Latin America, meanwhile, was the standout performer, with growth of 22 percent after 20 percent growth the previous year.[[footnote 2]]\u003c/p\u003e\n[[Sidebar 1]]\n\u003cp\u003eThe industry\u0026rsquo;s super winners, which are companies that have consistently grown revenues and expanded margins since 2017, maintained their momentum in 2023. The group outperformed the market by focusing on attractive categories and employing smart go-to-market strategies to inspire and engage with consumers. These leaders exemplified the merits of a balanced portfolio, with retail innovation, trend-responsive branding, and cost-effective manufacturing among the pillars that supported growth.\u003c/p\u003e\n\u003cp\u003eThere were also notable variations in the competitive landscape. For example, competition intensified in China, with global titans losing their edge to local players, which had a market share of about 60 percent among the top 20 brands. Conversely, in Latin America, global players continued to dominate, with a share of about 90 percent amid a strong soccer and tennis focus.\u003c/p\u003e\n[[PullQuote 1]]\n\u003cp\u003eLooking ahead, the industry is set to continue its steady growth: analysts estimate CAGR of about 7 percent by 2027 (Exhibit 1).\u003c/p\u003e\n[[Exhibit 1]]\n\u003ch2\u003eRising levels of polarization\u003c/h2\u003e\n\u003cp\u003eIn an unpredictable market environment, a key trend is rising levels of polarization, with some companies performing much better than others. About a third of sporting goods companies have grown revenues and widened margins since 2017, forming an elite group of winners that consistently outperform the wider market. On average, this group has achieved organic growth of five percentage points and margin improvements of three percentage points over the period. Conversely, about a quarter of companies have been margin-accretive laggards\u0026mdash;in other words, they have lifted margins but not revenues. About 10 percent are dilutive laggards, seeing strong revenue performance (more than 15 percent) but slightly negative margin performance (two percentage points on average). We expect this polarization theme to persist in the future.\u003c/p\u003e\n[[PullQuote 2]]\n\u003ch2\u003eSporting goods trends for 2024\u003c/h2\u003e\n\u003cp\u003eIn the first chapter of the report, we highlight an improving industry outlook, with about 90 percent of sporting goods leaders anticipating stability or improvements in sales and margins, according to the McKinsey and World Federation of the Sporting Goods Industry (WFSGI) Sporting Goods Industry Report Survey 2023. Still, industry leaders are not universally optimistic, amid persistent concern over inflation and overstocking. Eighty-one percent of respondents to this year\u0026rsquo;s survey say inflation and inventory levels and cost of capital are a continuing challenge, and 50 percent worry about attracting talent and the pressing imperative to become more sustainable. In addition, economic headwinds may still apply. In China, for example, 2023 marked a recovery from a tough 2022, but many Chinese consumers will likely trade down in 2024 as tough economic conditions persist.\u003c/p\u003e\n\u003cp\u003eIn the remaining four chapters of this year\u0026rsquo;s report, we dive into the key themes that will likely appear on executive agendas in the year ahead:\u003c/p\u003e\n\u003cp\u003e1. \u003cem\u003eShifting consumer preferences and generational opportunities.\u003c/em\u003e Consumer confidence remains subdued, but the sporting goods sector has shown it can be resilient, with many companies relatively immune to downtrading. That said, brand loyalty is declining. Also, consumer behaviors are moving away from organized sports and toward options that are more accessible. This pivot presents new avenues to growth, particularly in segments such as pickleball and paddle tennis (159 percent growth from 2019 to 2022) and off-course golf (57 percent growth from 2019 to 2022), which have seen surges in popularity (Exhibit 2).\u003c/p\u003e\n[[Exhibit 2]]\n\u003cp\u003eIn addition, there is a generational shift in progress, with some older demographics spending more time and money on their favorite sports and hobbies. However, demographic dynamics vary across regions, suggesting brands will need to craft age-inclusive strategies to suit their constituencies.\u003c/p\u003e\n[[PullQuote 3]]\n\u003cp\u003e2. \u003cem\u003ePlanning, planning, planning.\u003c/em\u003e Inventory management remains a pressing challenge as companies grapple with overstocking and demand volatility. The rising cost of capital further complicates the outlook, compelling companies to reevaluate their established planning processes. The key to being prepared lies in integrated business planning, which can significantly improve coordination and reduce the number of surprises. Still, effective implementation requires new governance approaches and cross-functional alignments as well as standardized inputs and outputs. Companies can combine these with AI and machine learning to generate more precise end-to-end planning and forecasting (Exhibit 3).\u003c/p\u003e\n[[Exhibit 3]]\n[[PullQuote 4]]\n\u003cp\u003e3. \u003cem\u003eFrom sustainability targets to actions.\u003c/em\u003e Regulation and corporate action are supporting nations and regions in setting and meeting their sustainability targets. In China, the European Union, and the United States, there is increasing government support for funding that will drive the energy transition.\u003c/p\u003e\n\u003cp\u003eMany sporting goods brands, including smaller companies, are now stepping up, not only setting ambitious targets but also seeking to address social and governance issues in their operations and supply chains. These steps reflect rising consumer demand for more sustainable offerings. For example, consumers increasingly value products that use organic or sustainable input materials\u0026mdash;and are often willing to pay a premium for them. While many companies are making progress, others are still at the starting blocks. Ten impact areas along the value chain and specific initiatives in each can help companies move forward. These range from new business models to initiatives that may boost consumer awareness, and companies can assess each of these through the lens of a cost abatement curve (Exhibit 4).\u003c/p\u003e\n[[Exhibit 4]]\n\u003cp\u003e4. \u003cem\u003ePlaying the sports ecosystem game.\u003c/em\u003e In the wake of some companies embracing direct-to-consumer business models, the past year has seen a renewed focus on wholesale partnerships, reflecting the understanding that consumers prefer to shop in multibrand environments. Going a step further, an increasing number of companies are embracing explicit ecosystem strategies, taking their thinking beyond channel coverage and product assortments. This reflects the fact that technological advancements and health trends are driving a shift in consumer demand from individual products to comprehensive health- and activity-centered solutions.\u003c/p\u003e\n\u003cp\u003eCompanies alone cannot meet all consumer needs. But they can meet those needs through networks of companies that serve some element of the customer journey, from opportunity discovery to planning and preparing, traveling, participation, and recovery (Exhibit 5). McKinsey research shows that the activities within these steps that customers value most include finding similarly minded people, shaping products to their specific needs, obtaining insurance to reduce risks, liaising with travel agencies, and receiving support during activities.[[footnote 3]] Ecosystems enable companies to cater to these demands.\u003c/p\u003e\n[[Exhibit 5]]\n\u003cp\u003eThe report identifies five levers for value generation in an ecosystem environment: new subscription revenues, lower customer-acquisition costs, cross-selling, commissions, and operational efficiencies.\u003c/p\u003e\n\u003chr /\u003e\n\u003cp\u003eThe past year has marked a period of recalibration for the sporting goods industry, with an uneven recovery and persistent challenges. Looking ahead, we believe the most successful players will innovate to address shifting consumer demands, manage supply chain complexity, streamline operations, and seize opportunities in emerging markets and ecosystems. Through efforts in these areas and a sharp focus on execution, the industry will be well positioned to continue its positive trajectory.\u003c/p\u003e\n\u003cp\u003eDownload \u003cem\u003e\u003ca href=\"https://www.mckinsey.com/industries/retail/our-insights/sporting-goods-industry-trends#/download/%2F~%2Fmedia%2Fmckinsey%2Findustries%2Fretail%2Four%20insights%2Fsporting%20goods%20industry%20trends%2F2024%2FTime-to-move-Sporting-Goods-Full-Report-2024.pdf%3FshouldIndex%3Dfalse\"\u003eTime to move: Sporting goods 2024\u003c/a\u003e\u003c/em\u003e, the full report on which this article is based.\u003c/p\u003e"},"isFullScreenInteractive":{"boolValue":false},"hideStickySocialShareBar":{"boolValue":false},"desktopID":{"value":""},"mobileID":{"value":""},"desktopURL":{"value":""},"mobileURL":{"value":""},"desktopPaddingPercentage":{"value":""},"mobilePaddingPercentage":{"value":""},"desktopOverrideHeight":{"value":""},"mobileOverrideHeight":{"value":""},"cerosOembedURL":{"value":""},"cerosRenderMode":{"targetItem":null},"cerosBackgroundColor":{"targetItem":null},"hideByLine":{"boolValue":false},"tableOfContentsTitle":{"value":"TABLE OF CONTENTS"},"accessStatus":{"targetItem":{"key":{"value":"RegisteredUsers"},"value":{"value":"Registered Users"}}},"articleType":{"targetItem":{"displayName":"Report"}},"hasSpecialReport":{"boolValue":false},"contentType":{"targetItem":{"displayName":"Article"}},"sourcePublication":{"targetItem":null},"externalPublication":{"value":""},"mobileReady":{"boolValue":true},"forClientsOnly":{"boolValue":false},"excludeFromClientLink":{"boolValue":false},"originalPublishDate":{"jsonValue":{"value":"2024-01-30T00:01:00Z"}},"footnotes":{"value":"\u003col\u003e\n\u003cli\u003eEuromonitor, October 2023.\u003c/li\u003e\n\u003cli\u003eEuromonitor, October 2023.\u003c/li\u003e\n\u003cli\u003eMcKinsey Ecosystem Strategy Hub; McKinsey Consumer Community Survey, September 2023, n = 322 (Germany and the UK).\u003c/li\u003e\n\u003c/ol\u003e"},"contributoryPractice":{"targetItems":[{"displayName":"Retail"}]},"aboutTheAuthors":{"value":"\u003cp\u003e\u003cstrong\u003eSabine Becker\u003c/strong\u003e is an associate partner in McKinsey\u0026rsquo;s Zurich office, where \u003cstrong\u003e\u003ca href=\"/our-people/alexander-thiel\"\u003eAlexander Thiel\u003c/a\u003e\u003c/strong\u003e\u0026nbsp;is a partner; \u003cstrong\u003e\u003ca href=\"/our-people/gemma-d-auria\"\u003eGemma D\u0026rsquo;Auria\u003c/a\u003e\u003c/strong\u003e is a senior partner in the Milan office; and \u003cstrong\u003e\u003ca href=\"/our-people/sajal-kohli\"\u003eSajal Kohli\u003c/a\u003e\u003c/strong\u003e\u0026nbsp;is a senior partner in the Chicago office. \u003c/p\u003e\n\u003cp\u003eThe authors wish to thank Rajat Agarwal, Becca Coggins, Asina de Branche, Karl-Hendrik Magnus, Olga Ostromecka, Daniel Zipser, all members of WFSGI, and the many industry experts who generously shared their perspectives during interviews for this article.\u003c/p\u003e"},"authors":{"targetItems":[{"template":{"id":"3FBABDB63A094F68B1F8E1BBE1BA124E","name":"Author"},"id":"DFFA5DA58D3B476B82E482B7A2CFFA78","name":"Sabine Becker","authorTitle":{"value":"Sabine Becker"},"description":{"value":""},"thumbnailImage":{"alt":"","src":null},"profile":{"targetItems":[]}},{"template":{"id":"3FBABDB63A094F68B1F8E1BBE1BA124E","name":"Author"},"id":"4E84CB35004D4BBA96BC148A44911AC8","name":"Gemma DAuria","authorTitle":{"value":"Gemma D’Auria"},"description":{"value":""},"thumbnailImage":{"alt":"","src":null},"profile":{"targetItems":[{"standardImage":{"src":"/~/media/mckinsey/our people/gemma d auria/gemma d auria_std_img.jpg","alt":"Gemma D’Auria"},"emailLinks":{"value":"Gemma_DAuria@mckinsey.com"},"linkedInUrl":{"value":"https://www.linkedin.com/in/gemma-d-auria-885262"},"description":{"value":"Supports retail, fashion, and luxury brands in driving transformations for higher performance and health"},"locations":{"targetItems":[{"name":"Milan","displayName":"Milan"}]},"firmTitle":{"value":"Senior partner, global leader of McKinsey’s Apparel, Fashion \u0026 Luxury sector"},"thumbnailImage":{"alt":"Gemma D’Auria","src":"/~/media/mckinsey/our people/gemma 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