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Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
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Lipstick may be recession proof, but what about yoga pants? In a world preoccupied with global recession, a land war in Europe, continuing supply chain issues, record inflation, and rising interest rates, consumers worldwide have less money to spend on athletic shoes, clothes, and gear. 2022 was a down year for the industry, after generally positive returns in 2021. Looking ahead to an uncertain future, short-term headwinds urgently demand companies embed resilience into their operations. Simply raising prices might not cut it this time. For a more nuanced, holistic roadmap comprising six key actions for sporting goods organizations, check out a new report by McKinsey associate partner Sabine Becker, senior partners Achim Berg, Raphael Buck, and partner Alexander Thiel.
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—Chad P. Bown, Reginald Jones Senior Fellow at the Peterson Institute for International Economics, on trade policy in a recent episode of the McKinsey Global Institute’s Forward Thinking podcast |
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— Edited by Stephanie d’Arc Taylor, editor, Southern California
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