Ignition Dimension (ID: chaintruth) original
Produced by Burning Finance
Author | Feng Xiaoting Zhang Lin
Edit | Rao Xiafei
Watching the tea of college students who watched sports events for more than ten days on TV, the mood can be described as "great joy after great compassion".
As a "senior fan" of cha cha, after watching the men's football and Vietnamese matches on the night of the New Year, cha cha joined the brush screen army of the circle of friends, "for the first time, I felt that watching a football game was a waste of life, especially the scene where the Vietnamese team won the red envelope on the spot, and I only felt congested when I saw it." ”
Frustrated by football, Cha Cha unexpectedly found that the performance of the women's football team was outstanding, in order to watch the women's football team and the Japanese team, Cha Cha also specially recharged the members of Migu Video. After the women's football penalty win, Cha Cha was so excited that he couldn't sleep all night, and in the next few days, Cha Cha spent all day at home, and the opening of the Winter Olympics, the women's football final, and the popular events of the Winter Olympics were all one and the same.
In fact, not only focusing on events, Cha Cha is also very passionate about sports, "My pocket money is basically spent on sports." All kinds of sneakers and clothes are a big expenditure for tea and tea from time to time to "chop hands", "Usually eating will be more frugal, but I will spend nearly 10,000 yuan every year to buy sports equipment." ”
Recently, Cha Cha began to add skiing equipment one after another, thinking about how to squeeze out time, take advantage of the school in March to go to the northeast Changbai Mountain to experience a skiing, "In fact, I like sports myself, and skiing looks much more interesting than the indoor rock climbing I recently played, Xiaohongshu has also been recommending skiing related dynamics to me recently, looking very excited." ”
"I bought ski clothes, ski gloves, ski goggles and snowboard holders, and other equipment that was not close to the body was planned to be rented at the ski resort, and the total cost was controlled to less than 2,000 yuan." Cha Cha followed the zhihu answerer's guidance for beginners to "save and save", and finally only ordered the above four pieces of primary ski equipment.
Cha Cha naturally knows that 2,000 yuan is just a "stepping stone", and the cost of machine wine, venues and training in the future is the biggest expense in the ski plan, "Fortunately, in the New Year, 20,000 yuan of pressure money, bearing the cost of a ski is still more than enough." ”
In fact, in recent years, some of the sports that are loved by young audiences, the freestyle skiing men's and women's big jumping in the new projects of this year's Winter Olympics, and the competitive climbing, surfing, skateboarding and other sports added to the Tokyo Summer Olympics last year, are also gradually popular among young people. For example, the popular ice and snow sports have set off a boom of "300 million people on ice and snow". In addition, surfing, skateboarding and other sports are also more widespread among young people.
On major social platforms, more and more young people are posting sports-related content. Taking the Little Red Book as an example, searching for #sport-related keywords, there are more than 8 million related notes.
Figure/content about sports on social platforms
(Left: Little Red Book, Right: Douyin)
Source/Burn Finance Screenshot
In order to seize the wallets of these young people, major sports brands have launched fierce competitions, such as domestic brands Li Ning, Anta, Xtep, etc., which have ushered in explosive growth in recent years. Not only clothing, but also other sports equipment and sports-related equipment have also squeezed into sports tracks, such as the once popular "sports magic mirror".
"Those who get the young win the world", and sports brands are also "pleasing" young people, and marketing adjustments are made to products by seizing the preferences of young people. Holding sports fashion shows, cooperating with famous designers, co-branding with different brands, increasing research and development efforts to engage in innovation... It can be said that each of them has its own tricks to seize the minds of young audiences.
"Sport is reaching out to the masses and will inspire young people to spend on sports for some time to come." Li Qiang, an investor who pays attention to new consumption, pointed out that the sports industry will show a growth trend in the future.
As Li Qiang said, from the perspective of GDP corresponding to the added value, in 2020, the added value of the sports industry is 1,073.5 billion yuan, the GDP accounted for 1.057%, and the State General Administration of Sports scientifically calculated that it is expected that by 2035, the total amount of China's sports industry will account for about 4% of GDP, becoming a pillar industry for national economic development and achieving long-term steady growth.
By comparing the added value and GDP of the sports industry in the previous two years, it is found that the actual proportion of GDP in 2018 and 2019 is basically stable at about 1.13%, which means that in the next ten years, the sports industry will have greater development.
However, Li Qiang also said that the sports industry is still in the cultivation stage, and it will take time to prove its results. "It's going to be a slow process that requires patience from entrepreneurs and investors."
Young people "burn money" in sports
After the 90s Wang Xin is a ski enthusiast, after the successful bid for the Winter Olympics, the attention of the whole people to ice and snow sports has increased, and the major social media is also full of notes and videos related to skiing, wang Xin is "planted" in this way. The first time he experienced skiing, Wang Xin fell in love with the sense of speed brought by skiing, felt the pleasure brought by the adrenaline rush, and felt particularly decompressed.
This year's Spring Festival responded to Wang Xin, who advocated staying in Beijing for the Local New Year, and simply took his lover and son to Beijing Yuyang International Ski Resort for the New Year. Nowadays, lovers and children have also fallen in love with this sport under the impetus of Wang Xin.
"These days, while watching the Winter Olympics, the children are talking about going skiing." Wang Xin said bluntly that skiing is an addictive and money-burning sport. "Ski tickets generally range from 200-500 yuan, if you want to save money, you can rent equipment directly at the ski resort, cheaper than 100 yuan a day, these do not look expensive." However, most of the domestic ski resorts are concentrated in the northeast and Xinjiang, counting round-trip air tickets and accommodation, there is no three or five thousand can not come down. ”
Wang Xin told Burning Finance that skiing is a sport with technical thresholds, and most enthusiasts need to learn skiing skills through training. "Some ski resort junior coaches have to start at 500 yuan / hour, and then the shift system learns some skateboarding skills, and the primary class is about 4,000-8,000 yuan."
"If you buy your own equipment, the cost will be even greater." Wang Xin said that the total cost of the full set of equipment he is using now is nearly 10,000 yuan, "My cost on equipment is medium, and the seemingly low-key equipment on many gods in the snow field is likely to be more than 50,000 or 60,000 yuan." Among them, the snowboard is a consumable, and if you skate frequently, you can scrap a snowboard in a snow season. ”
Photo/ Wang Xin's lover practicing skiing
Source/Courtesy of Wang Xin
When Wang Xin swooped down from the top of the snowy mountain, Li Yue after 95 was surfing in Hainan. As an advertising planner, Li Yue's work pressure is very large, and surfing can bring him the freedom he yearns for, and also inspire his creative inspiration.
"There is no seasonal limit to surfing, and Hainan is very suitable for surfing all year round." Li Yue calculated that a round trip plus accommodation would cost 3,000 yuan less, "If it weren't for the place of work in Shanghai, I would have wanted to buy a house in Hainan." ”
Li Yue told Burning Finance that the bulk of the equipment is on the surfboard, and his own surfboard is an imported brand, less than 7,000 yuan. "Domestic brands will be cheaper, I have seen 500 yuan on the shopping platform before, as for the electric surfboard that can bring players the feeling of flying at sea, a piece will cost tens of thousands of yuan." In addition to surfboards, surfing also requires some other necessary equipment, such as foot ropes and cold jackets, etc., also depending on the brand, about 500-5000 yuan or so. ”
Li Yue pointed out that surfing also has high-end players, who play kitesurfing and paragliding. "Learning to surf for beginners is almost two thousand or so, but the entrance cost of learning kitesurfing is about 5,000 yuan, and paragliding is about 10,000 yuan." Equipment, a kite almost more than 10,000 yuan, enthusiasts generally have three kites of different sizes, a set of equipment down at least 20,000 yuan, paragliding equipment is more expensive, about 30,000 yuan is only basic equipment. ”
And Wang Xin and Li Yue and other initiatives to "unlock" the tide cool sports is different, the same as the 90s Li Tao because the body issued an "alarm" and began to exercise, in order to have a healthy body, Li Tao walked into the gym, did not expect to insist on three years, not only the body recovered health, but also trained into a muscle man.
Only the fitness card, Li Tao currently has 4 in his hand, the cost of the card is nearly 20,000 yuan, and as a civil servant, his monthly salary is only less than 7,000 yuan. He told Burning Finance that people who love fitness will have more than one fitness card, because each gym has different equipment and different parts that can exercise, and it is difficult to find a fully equipped gym at home or near your work.
Because of the large weight base and no fitness experience, Li Tao deliberately invited a personal trainer in the early days of fitness. "I was 300 yuan for a personal training class at that time, bought 48 lessons, and the preferential price was 13,500 yuan. After I had a certain foundation, I began to practice on my own. ”
In addition to fitness cards, various fitness supplements are also one of Li Tao's fitness expenses. In order to gain muscle, he will consume a bucket of 5 pounds of whey protein powder every two months, the cost is about 500 yuan, and there are supplements such as branched-chain amino acids and vitamins, "the average is about 1,000 yuan a month." ”
Li Tao told Burning Finance that in fact, the increase in food expenses is also the "invisible cost" of fitness crowds, and the food cost after fitness is doubled than before fitness. "If you want to gain muscle, you need to supplement high-quality protein, if you eat from fish, shrimp and beef, etc., the cost of food for a day can reach two to three hundred, of course, chicken will be cheaper, but it is still nearly twice as expensive as when there is no fitness."
"Now my biggest expenditure is exercise and fitness, but I feel that for this investment, it is still worth it, after all, health is more important than anything else." Obviously, this is not Li Tao's idea alone.
Domestic sports brands "please" young people
Every Olympics is a big year of sports. At this moment, the Winter Olympics are in full swing, and the Asian Games will also be held in Hangzhou in the second half of the year.
At the opening ceremony of the Winter Olympic Games, domestic sports brands appeared frequently, ANTA is not only the official clothing partner of the Beijing Winter Olympic and Paralympic Games, but also the sponsor of the Chinese team, high-frequency exposure in the opening ceremony live broadcast, Peak also sponsored delegations from 7 countries, becoming the second most used brand by delegations at the opening ceremony of the Beijing Winter Olympic Games.
Affected by the popularity of the opening ceremony of the Winter Olympic Games, many netizens bought the same model while watching the live broadcast. From 8:00 p.m. on the fourth day of the first month to 11:00 a.m. on February 5, the turnover of Jingdong Sports ANTA down jacket increased by 203% year-on-year, and the turnover of Down Jackets of Desante (Anta's sports brand) increased by 196% year-on-year.
At present, young consumers, mainly Generation Z, have become the main force of consumption, with a large population base and strong purchasing power. They show a distinct personality, willing to try new things, high cultural identity of their home country, strong social needs, advocating high value and other group characteristics. In terms of consumer behavior, they love expression, are easy to plant, pursue self and identity, and are willing to pay a premium for quality, appearance and emotional experience. According to Huayang Lianzhong's "Generation Z Fashion Consumption Insight Report", the average frequency of Generation Z purchasing domestic products has reached 13.6 times a year.
In order to gain the favor of young people, sports brands have also begun to try multiple ways to "please" young people.
On the one hand, professionalism and functionality is the core competitiveness of sports brands, in order to attract young people who pay attention to product quality, domestic sports brands continue to increase investment in research and development and develop a lot of exclusive technology. For example, ANTA's midsole technology "C37", Li Ning's "Four Thunder Technology", Peak's "State Pole Technology", 361 ° "Q Bomb Technology", and Hongxing Erke's "Strange Bullet PRO Technology". According to the official data of ANTA, the cumulative investment cost in the past 10 years has exceeded 3 billion yuan, and there are currently more than 300 expert teams and 200 advanced test and development equipment, and more than 1800 national patents have been applied.
On the other hand, the rise of the "national tide" has also brought new opportunities to domestic sports brands. As early as 2018 and 2019, Li Ning twice appeared in New York and Paris Fashion Weeks, setting off a "national tide" of sports brands, especially after the recent experience of "Xinjiang Cotton" and "Hongxing Erke Zhengzhou Donation Incident", consumers' love for domestic brands has risen steadily.
Lai Yang, vice president of the Beijing Business Economics Association, said that quality improvement is a key factor in the love of domestic sports brands by young consumers. "Some have increased investment in research and development, some have focused on product design, and domestic sports brands are upgrading their brands in different ways." Among them, ANTA introduced a world-class design team and R&D team by acquiring international brands, while Li Ning continued to upgrade in design creativity. ”
Photo/ Sports brand selection star endorsement (left: ANTA, right: Xtep)
Source/Screenshot of an official Weibo of ANTA and Xtep
In terms of marketing, many domestic sports brands have chosen marketing methods such as cross-border joint names, celebrity endorsements and event sponsorships, and communicated with young consumers in ways that they like. And take advantage of the live broadcast and short video platform, as well as kol on the Little Red Book to plant grass, directly reach young consumers, and boost domestic sports brands out of the circle.
Search for "sports wear" on the Little Red Book, with 410,000 related notes. On Douyin, the topic of "Sports Wear Sharing" has been played 6 million times, "Sneaker Review" has been played 1.17 billion times, and there are a large number of video visits by sports brands.
Lv Xueying, vice president of Chuangshi Partner Capital, told Burning Finance that the life concept of the new generation of consumers is more fashionable and avant-garde, and communicating with them in a way that young people like is the key to the marketing of domestic sports brands. "For the new generation of consumers, sports brands represent consumption concepts and lifestyles, and content is the key to carrying information, so brand content construction has become an important starting point for brands to attract young people."
The "new" war in the sports industry
Young people who love sports are also changing the pattern of the sports industry with their own efforts.
In the past, the mention of sports may be more about running, fitness and other conventional exercise methods, but now young people's sports are more diversified, and even in the past, the "noble sports" that belonged to the minority have begun to enter ordinary people's homes.
The most famous of these is the ice and snow sports, the "300 million people participating in ice and snow sports" goal set up when the Olympic bid has been achieved, and I believe that more people will participate in the future. Xiaohongshu released the "Top Ten Life Trends of 2022" in January this year, predicting that driven by the Beijing Winter Olympics, the "ice and snow tide" will become one of the top ten life trends in 2022.
The data shows that in 2021, the search volume of "ski tutorials" on the Little Red Book increased by 100% year-on-year, and has increased significantly for two consecutive years. The number of ski-related businesses has also increased.
According to the data of Tianyancha, there are currently nearly 7,000 ski-related enterprises in the mainland, and the status is in business, survival, migration in and out. Among them, more than 65% of enterprises were established within 5 years. In the past ten years, the annual registration volume of ski-related enterprises (all enterprise status) in the mainland has shown an overall upward trend. Since Beijing won the right to host the Winter Olympics in 2015, more than 600 ski-related enterprises have been established in the mainland every year. Among them, the number of related enterprise registrations reached a peak in 2021, with more than 1200.
According to lazy bear sports data, in 2021, the total investment and financing of domestic ice and snow enterprises reached 263 million yuan, accounting for 2.34% of the total domestic investment and financing market. The ice and snow enterprises that received heavy financing in 2021 are SNOW51 and Xueleshan, of which SOW51 completed a round of financing of 100 million yuan, led by GSR Venture Capital, and Xueleshan received a 100 million yuan B round of financing, led by Zhengxin Capital.
In addition to ice and snow sports, the "2022 Future Consumption Atlas" recently released by Xiaohongshu also pointed out that "outdoor sports can be described as 'riding the wind' after the epidemic, and sports such as camping, skiing, fishing, hiking, rock climbing, and frisbee have emerged in the public eye." The report pointed out that in 2021, the content of the Little Red Book also reflects this trend, and the number of "outdoor" related notes has increased by 2.06 times.
In fact, the sports industry is not a new track, but an industry with a huge scale.
On December 30, 2021, data from the National Bureau of Statistics showed that according to accounting, the total scale (total output) of the national sports industry in 2020 was 2,737.2 billion yuan, and the added value was 1,073.5 billion yuan. According to the State Council's National Fitness Plan, it is estimated that by 2025, the total scale of China's sports industry will reach 5 trillion yuan, and the average annual compound growth rate from 2020 to 2025 will reach 12.8%, higher than the GDP growth rate.
Source/Visual China
With such a broad market and development prospects, the sports industry has naturally become a fragrant feast for capital. According to lazy bear sports data, from 2017 to 2021, the number of investment and financing in China's sports industry was 180, 148, 87, 53 and 87 respectively, and the financing amount was 9 billion yuan, 13.5 billion yuan, 3.969 billion yuan, 3.03 billion yuan and 11.26 billion yuan, respectively. Among them, 2020 is the trough period of financing for the sports industry, and both the amount of financing and the amount of financing are the least one year in the past 5 years.
It is worth noting that although the amount of financing in 2021 has been reduced by more than half compared with 2017, the amount of financing has increased, which shows that the resources of the sports industry are concentrating on a small number of projects. Among them, the fitness/yoga track in the Chinese market alone will receive a total of 25 investment and financing amounts of about 6 billion yuan in 2021, including star capital such as Hillhouse Capital, Tencent and Baidu.
Of course, this does not mean that the sports industry is risk-free. In Li Qiang's view, the sports industry is currently in the cultivation stage, and there are still too many unknowns.
"Taking domestic sports brands as an example, although the sports brands of various countries have ushered in rapid growth, at this stage, more are reflected in clothing design and other aspects, and there is still a certain gap compared with foreign brands in terms of core technology."
Other professional sports have not really entered the public, "In addition to the running and fitness that is easy for the general public to contact, other professional sports are still far from the general public, which requires investors and entrepreneurs to have enough patience to cultivate the market." ”
"It's not an easy process." Li Qiang said bluntly.
*The caption and some of the inner text illustrations are from Visual China.
*Cha Cha, Li Qiang, Wang Xin, Li Yue, and Li Tao are pseudonyms.
*Disclaimer: In no event shall the information herein or the opinions expressed herein constitute investment advice to any person.