(ECNS) -- China's outdoor sporting goods market is expected to grow up to 20 percent annually by 2020 despite the current slowdown, insiders said at the Asia Outdoor Trade Show.
The four-day event in Nanjing City, capital of East China’s Jiangsu Province, attracted 705 outdoor brands from home and abroad that showcased a wide range of products for running, water sports, mountain climbing and other forms of recreation.
Zhu Chaohui, consultant to the China Outdoor Association, said the sector began to slow in 2014 after more than two decades of rapid growth.
The sector’s compound annual growth rate from 2001 to 2010 was more than 60 percent, with annual retail sales reaching 18 billion yuan ($2.7 billion) by 2015.
Exhibitors at the event said retailers with brick-and-mortar stores face a time of transformation.
Zhong Chengzhan, founder of the leading climbing gear and apparel company Kailas, said the rise of Internet now requires a physical store to be a hub for information, social networking and services, rather than just an outlet selling products.
Wu Yujun, brand manager with Nanjing B.C. Sports Products, said rising incomes in China have enabled more people to enjoy recreation and nature.
Zhu said more sports gear producers plan to be listed on the stock market while investors, especially private funds, are also pouring money into the outdoor sporting goods market.
