Industry drivers:
① from the demand side, the characteristics of China’s fourth consumer society are beginning to show. The increase of single population leads consumption to personal growth and self realization, and the consumption expenditure on sporting goods and sports facilities will maintain growth.
② from the perspective of policy: driven by the “14th five year plan” policy, the public service system of national fitness will be accelerated and improved to promote the good development of China’s sports industry.
③ the scale of China’s sports industry is expected to maintain growth in the future. By 2025, the industrial scale will reach 500 billion yuan, with an average annual compound growth rate of 12.8% in 20-25 years. Among them, industries such as sports equipment manufacturing and sports content service will usher in a period of rapid growth.
Industrial chain:
The three core tracks of the sports industry include sports equipment, sports venues and sports events. The brand differentiation of sports equipment market is obvious. Head brands such as Li Ning and Anta continue to invest in intelligent construction, optimize operation efficiency and continuously enhance market competitiveness. At present, the investment in sports venues is dominated by the government, attracting private capital, promoting market-oriented operation, and using science and technology to help the intelligent upgrading of venues, which is expected to improve the economic benefits of venues. The traditional operation mode of sports events relies on the income of broadcasting copyright. The entry of the Internet is expected to promote the refinement of the division of labor of operation scenes, promote the integration of sports and entertainment, enrich consumption experience and broaden the industrial income structure.
① the investment and financing activities of China’s sports industry have warmed up since 19 years. The investment heat of sports subdivision track is obviously differentiated, and fitness, yoga and so on have become hot investments in the past 21 years.
② consumption upgrading demand drives investment, capital accumulation boosts industrial development, and the performance valuation of high-quality sports equipment is “double click”.
Development dilemma:
① sports consumption is linked to residents’ income, and regional development is unbalanced.
② the degree of specialization of sports institutions is insufficient, facing the problems of insufficient marketization of investment and operation, low utilization rate of stadiums and gymnasiums, aging of gymnasium equipment and so on.
③ the talent training and incentive mechanism is not perfect, and there is a gap in the supply of sports talents.
Sports industry and technology analysis:
① sports equipment: the purchasing power of consumers has been enhanced. In the past 20 years, the shipment of intelligent wearable devices in China has reached 107 million units, and the development prospect of the industry is considerable.
② in terms of health management: People’s sports awareness is enhanced, the functions of health management apps are increasingly enriched, and the number of users continues to increase.
Comparative analysis of Chinese and American sports industry:
The development foundation of China’s sports industry is relatively weak. In 2019, the per capita output value of China’s sports industry was only 2094 yuan, and the total output value of sports industry accounted for 1.14% of GDP, which is close to that of the United States in 1980s? 90s level, when the United States issued a series of sports power strategies to promote the all-round development of the sports industry. According to the calculation of the State Administration of sports, by 2035, the proportion of China’s total sports industry in GDP will reach about 4%, which will become a pillar industry of national economic development.
Case analysis of Chinese sports industry enterprises:
① sports equipment supplier: Li Ning adopts the development strategy of “single brand, multi category and multi-channel”, focusing on core categories; Anta develops multi line brands to fully attract consumers in different market segments.
② health management platform: keep is the industry leader of mobile fitness tools. It is mainly engaged in fitness course services and e-commerce business of self operated sports product mall, with a total of 300 million users.
③ equipment enterprises: the global layout of marketing network helps Shuhua Sports Co.Ltd(605299) form channel advantages, and the business performance is far better than that of the same industry.
④ sports copyright operation and amusement park operation: Wuhan Ddmc Culture & Sports Co.Ltd(600136) has significant advantages in the field of sports copyright and sports marketing relying on its own top event copyright. Guangzhou Wahlap Technology Corporation Limited(301011) explore the new business form of the combination of sports and indoor amusement park, which is expected to lead the new sports trend.
