OXFORD BROOKES UNIVERSITY

OXFORD BROOKES BUSINESS SCHOOL

GYMSHARK: A Marketing plan

for the athletic footwear market.
December 2022

MARK7045 Introduction to Principles of Responsible Marketing

Student ID: xxxxxx
Word count: 2001

MARK7045 Introduction to Principles of Responsible Marketing

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TABLE OF CONTENT

EXECUTIVE SUMMARY ................................................................................................ 3

1. INTRODUCTION ..................................................................................................... 4
2. ENVIRONMENTAL ANALYSIS.............................................................................. 5
2.1 PESTEL: EXTERNAL ENVIRONMENT .................................................................... 5
2.2 COMPETITOR ANALYSIS ......................................................................................... 6
2.3 SWOT ANALYSIS....................................................................................................... 8
3. SEGMENTATION, TARGETING, POSITIONING ............................................... 10
3.1 SEGMENTATION .......................................................................................................10
3.2 TARGETING ...............................................................................................................11
3.3 POSITIONING ............................................................................................................11
4. MARKETING MIX .................................................................................................. 13
5. CONCLUSION ....................................................................................................... 18

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EXECUTIVE SUMMARY

In the following report, a marketing plan proposal is offered to bring Gymshark in the
athletic footwear market. This is achieved in 3 parts where the environment of the
brand and the market is first analysed, then the potential customer and the new
market is investigated, to finish with the development of the marketing mix.

The athleisure trend is starting to become more dominant in the fashion industry,
where it is accepted to wear activewear outside of the workout environment. Thus,
utilizing this trend is the goal for this market penetration to be successful. In this
context, Gymshark has few competitors: brands like Nike, Adidas, Sport Direct are
identified to have a big share in the market, whereas Lululemon and Asics have the
added complexity of being rivals mainly due to the interest in the athleisure market.

To compete against these already established brands in the footwear market,

Gymshark will introduce a new footwear collection with 2 pairs, namely the treadmill
and the deadlift, both available for less than £140. Positioned as a mix between
technology and fashion, these are aimed at a particular customer profile which is
believed to be able to pick up on the pairs very quickly. Indeed, amongst 4 different
customer segments proposed, the “influencer” profile is targeted. To introduce this
new collection to the market, a set of campaigns is proposed which include a clever
use of influencer marketing, pop-up stores and a Gymshark event. By these
campaigns, the aim is to promote not only the shoe collection, but also the efforts
that that company is putting in reducing their environmental impact.

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 1. INTRODUCTION

Originating from a screen-printing business operating in a garage in England,

Gymshark has rapidly developed into one of the fitness industry's most popular brands
(MarketLine, 2018). Success after success, the firm was named the fastest-growing
company in the UK by the Sunday Times Fast Track (ibid.). Although extremely hard
to achieve, it only took the brand 8 years to reach the status of Unicorn (Turner, 2020).
Indeed, this status is only given to privately owned companies for which their valuation
reached US$1 billion (Lee and Lin, 2020). The positive trend is followed and confirmed
by their latest financial results. In fact, the company’s revenues saw a tremendous
68% growth in 2021, reaching £437,6 million whilst their profit before tax figures
doubled to reach £62.4 million that year (Gymshark, 2022b).

Gymshark is operating in the activewear market. In terms of sportswear items, reports

show that trainers are the most purchased items by customers, contributing positively
to the industry’s growth with a market that is still expected to growth until at least 2027
(McDonald, 2022a). The attractiveness of the market is also highlighted by similar
brands making the step towards footwear. As opposed to Gymshark, other sportswear
brands such as Lululemon, or Columbia Sportswear already seized the opportunities
to compete in the category of the well-known Nike, Adidas and Under Armour (Ell,
2019).

The aim of this paper is to offer a marketing plan for Gymshark to enter the athletic
footwear market in the UK. This is done by analysing the external factors of the market,
then investigating internal factors of the brand in the new sector. A clear Segmentation,
Targeting and Positioning analysis will be elaborated followed by a proposal of a
marketing plan.

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 2. ENVIRONMENTAL ANALYSIS

To ensure that all aspects of the new markets are considered, an environment analysis
is conducted. Firstly, the new market will be investigated on an external environment
perspective using a PESTEL analysis followed by a competitor analysis of the athletic
footwear market.

2.1 PESTEL: EXTERNAL ENVIRONMENT

PESTEL is a framework used to characterise the external environment affecting the

brand (Baines, Fill and Page, 2012).

Table 1: PESTEL analysis of the athletic footwear market in the UK (author, 2022)

Political Environment
- British political changes and instabilities in the months of August to October in
the UK are affecting customers, especially with feeling towards their financial
wellbeing (Shepherd, 2022).
- The impact of Brexit is felt by e-commerce businesses with a decline in
exportation of goods from and to Europe (Cook, 2022).
Economic environment
- According to Mintel, as a result of the political shifts of second part of 2022,
71% of consumers described their finances as at least OK(Shepherd, 2022)
- Financial wellbeing is at a low point, as well as people’s financial confidence
(Shepherd, 2022).
- Consumer Prices Index (CPI) rose by 10.1% in 12 months leading to
September 2022 in the UK leading to cost of living crisis (Thomas, 2022)
Socio-Cultural Environment
- Increase of positive customers perception of their own health in 2021
compared to 2017 (Martin, 2021).
- The pandemic has a positive impact on the need for a healthier lifestyle that
customers in the UK market have (Martin, 2021)
- Exercising is put at a higher priority than before COVID-19, with 30% of adults
confirming this shift in priority in 2021. The actual number of people
exercising can confirm the trend, with a 4% increase, reaching 85% of people
exercising in some way in 2021 (Bryans, 2022)
Technological Environment
- E-commerce is taking a bigger part of the retail market (Euromonitor, 2022)
- Rise of online platforms, click & collect, frictionless retail and D2C (Sarah,
2020)

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 - Cyber security threats are still relevant, especially for online based platforms
like Gymshark (Gymshark, 2022b)
Environment
- Waste due to footwear production cannot be ignored, which most of it is due
to end of life of the shoes. More than 21 billion pairs are manufactured
annually globally. (Jadhav and Jadhav, 2020)
Legal
- The footwear manufacturing industry is subject to environmental and anti-
dumping laws. These affect the disposal of waste, especially the common
footwear synthetic materials, leather or chemicals used in the colouring
process (Thomas, 2022)

2.2 COMPETITOR ANALYSIS

A competitor analysis is now presented for the athleisure market, which has seen
consumer wanting more stylish items (see Figure 1) without compromising on the
comfort (Rajput, 2022; Nast, 2019).

Figure 1: Example of the athleisure trend

viewed by Lululemon (Nast, 2019)

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Figure 2 : Competitor Analysis of Gymshark in the athletic footwear market differentiated by
their market dominance and/or their interests in the athleisure market (author, 2022)

Brands such as Nike, Adidas and Sports Direct are identified to be competitors in that
market mainly due to their size. Indeed, Nike and Adidas are both the leading players
in the shoe market in the UK whereas Sports Direct is a retailer offering great value
which attracts customers (McDonald, 2022b). Although the latter is mainly a retailer,
Sports Direct owns a variety of accessible brands which they also sell in their stores,
making it an cheap way for customer to get a wide selection of footwear items
(Dowling, 2015).

Table 2 : Key Attributes to Gymshark's competitors (author, 2022)

Attributes Social media

following
Nike - Strong collaborations with other brands and high 3.1m: Tiktok
audience through sponsorships of high performance 36m: Facebook
athletes: including LeBron James, Serena Williams, 252m Instagram
Rafael Nadal, and Alex Morgan. (Fortune, 2022)
- Experience, already in the field for more than 50
years (Fortune, 2022)
- Second biggest sports brand by number of
consumer (in the footwear sector) in the UK in 2020
(Kantar, 2021).
- Key player in the athleisure trend (GlobalData, 2021)
Lululemon - New entrant to the footwear market especially for 4.3m Instagram
women, but well established in the athleisure clothing 2.7m Facebook
market (Newcomb, 2022). 472k Tiktok

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 Adidas - High customer awareness and strong collaborations 26.6m
with famous athletes such as Lionel Messi, Donovan Instagram
Mitchell, Shaunae Miller and Stefanos Tsitsipas 40m Facebook
3.4m Tiktok
(Benson, 2022)
- Biggest sports brand by number of consumer (in the
footwear sector) in the UK in 2020 (Kantar, 2021)
- Key player of the athleisure trend (GlobalData, 2021)
Asics The brand already entered in the athleisure market in 1m Instagram
2017 to expand their customer base (Nikkei, 2017), 4.4m Facebook
and seen to be a driver of the athleisure trend. 10k Tiktok
(GlobalData, 2021)
Sports - Large retailer owning a variety of brands such as 196k Instagram
Direct Slazenger, Donnay, Everlast, Dunlop and Karrimor 2.5m Facebook
(Dowling, 2015) 442k Tiktok
- The brand has the highest awareness among the
surveyed UK customers in the latest Mintel report on
the topic (McDonald, 2022b).
- Customers consider the brand being accessible. The
brand is also considered to “offer good value”
(McDonald, 2022b)

2.3 SWOT ANALYSIS

The implementation of casual athletic footwear as part of the Gymshark brand is now
investigated on an internal perspective through a SWOT analysis. That one highlights
the internal strengths and weaknesses of the brand, combined with external
opportunities and threats of the new market on that brand.

Table 3: SWOT analysis (author, 2022)

INTERNAL
Strengths Weaknesses
- Social media : Strong following and - Strong purchases in the “$50 Flex
online community (Mintel, 2022). Leggings” (Leighton, 2021) but sells
- Specialized in gym accessories, and less in other products which limits
apparel their product portfolio compared to
- Rapid growth of the company other competitors in the field.
(unicorn status in 8 years and one of - Customer awareness of the brand
the 25 UK companies to be Unicorn) relative to its competitors is low
- Quality perception of the products by (McDonald, 2022b)
customers: 35% of the consumers - Most of the suppliers are in China,
report having excellent experience Vietnam and Sri Lanka which adds
(McDonald, 2022b). to costs of imports (Gymshark,
2020)

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 - Range of action is wide as they
deliver to 180 countries (McDonald,
2022b)
EXTERNAL
Opportunities Threats
- E-commerce growth and D2C - Online based company leading to
growth after covid 19 (Sarah, 2020) increased risks of cyber-attacks risks
- Increase in younger generation feel (D’Adamo et al., 2021).
for higher sport at workplace (Martin, - Huge “well established” competitors
2021) in the footwear industry for years.
- Athleisure trend increase over the - Growth of home fitness and working
last years, especially in offices from home
(GlobalData, 2022; Halliday, 2018) - Cheap entry level footwear
(McDonald, 2022b) Primark
- Partnership marketing to create introducing cheap versions (Gibbons
awareness (Kunitzky, 2010) and Whilding, 2022)
- Opening of the first Gymshark store - Second hand online shops selling
in London (Mintel, 2022) : shoes at lower prices
opportunities for new product - Resurgence of Covid or another
launches and direct feedback. global pandemic wave
- Rise of CPI in the UK -> Cost of
living increasing (Thomas, 2022)

Overall, Gymshark has built a very strong brand and is being praised for their
marketing effort in the past years, especially on the social media side (MarketLine,
2018). The community built to this date helps the brand to remain competitive, which
is also rewarded by their customers recommending products to other consumers. This
referral boost also helps to tackle one of the weaknesses of the young brand: customer
awareness. Moreover, the opportunities given by the athleisure footwear market are
promising. Indeed, there is a noticeable positive trend in younger generation wanting
to wear comfier clothing at the office (GlobalData, 2022). However, Gymshark would
have to compete against very well-known brands like Nike, Adidas but the threats are
also coming from the low-price point nature of some other brands like Primark
(Gibbons and Whilding, 2022). Indeed, as the cost of living is gradually increasing in
the UK (Thomas, 2022), customer’s financial confidence is dropping down (Shepherd,
2022)

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 3. SEGMENTATION, TARGETING, POSITIONING
In efforts to identify the customers to reach, the Segmentation, Targeting and
Positioning (STP) process is used. The STP method allows one to form clusters of
potential customers, followed by the selection of the right target amongst the
aforementioned clusters, then concludes by positioning the brand inside the targeted
market (Baines, Fill and Page, 2012).

3.1 SEGMENTATION
First, the potential customers are segmented into 4 eligible profiles, as seen in Table
4.

Table 4 : Customer segments (author, 2022)

Profile 1 Profile 2 Profile 3 Profile 4

The bodybuilder The influencer The casual runner The healthy new
year’s resolution
-15-34 (Statista, 2020, -15-34 (Men's -15-34 (Baines, 25-44
-Targets years old
a healthy lifestyle (Kantart,
Fill and Page, Health, 2021) Fill and Page, (Maher,
2021) 2022)
2012) -Female 2020) - Female
-Male -Regularly goes to the -Male - Is conscious
-Regularly goes to the gym to stay fit -Has a gym about their
gym -Uses social membership but image (Maher,
-Tracks calories intake & media to decide prefers to run 2022)
workouts what to buy -Tries to get a routine - Prefers going to
-Plans their rest days for based on trends going a retailer to try
muscle growth -Knows what the -Targets to run at different options
-Runs every week for trends “get ready least once a week - Does not
conditioning with me (Mintel, 2021)- necessarily know
-Already a Gymshark (GRWM)”/” Outfit Buys athletic what Gymshark
customer of the day footwear for the is
-Regular consumer of (OOTD)” are sole purpose of - Buying footwear
workout -Takes pictures of running or items to replace
supplements their outfit working out their worn pairs
regularly and -Prefers going to a (McDonald,
shares them retailer to try 2022a)
online different options
-E-Commerce user & -Targets a healthy
spends time lifestyle (Kantart,
shopping online 2021)
-Owns or recognizes
the Gymshark
leggings (Kantar,
2020)

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 3.2 TARGETING

The market has been segmented where 4 different profiles were proposed. It has been
chosen to move forward with a differentiated targeting strategy as the proposed
customer profiles are distinct from one another (Baines, Fill and Page, 2012).

Based on the industry report from IBISWorld (2022), the largest rate of participation in
fitness, gym, or conditioning activities is reportedly among individuals between the
ages of 16 and 24 (Maher, 2022). Moreover on the topic of increasing use of
activewear, in the UK, 75% of those polled by Rakuten Marketing claim wearing their
activewear when working out, 49% also do so at home, 29% while doing errands, and
13% even do so at the office (Halliday, 2018). Therefore, targeting a consumer group
having interests in wearing activewear outside of their workout space is preferred to
take advantage of the athleisure trend. Moreover, with 80% of consumers basing their
purchases on a friend's social media post (Kowalewicz, 2022), targeting a consumer
group relatively sensitive to online recommendations and trends is the aim.

These last points direct the attention towards the “influencer” segment, which will be
the focus of the marketing mix.

3.3 POSITIONING
The target customer is fashion trend driven as well as conscious about their health
and physique. In their eyes, Gymshark will have to be a perfect mix between the
technology of the footwear and being able to be an accessory to their casual outfits.
The following perceptual map allows one to position the brand against the other
players in the market (Baines, Fill and Page, 2012).

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Figure 3: Perceptual map of the athletic footwear market (author, 2022)

Moreover, the following positioning statement is defined:

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 4. MARKETING MIX

The marketing mix is a conceptual framework identifying the key choices managers
must make in order to tailor their services to meet customers' expectations (Goi,
2009). The following section aims at defining the 4P’s of the marketing mix for
Gymshark, namely product, price, place, promotion (Baines, Fill and Page, 2012).

4.1 PRODUCT FORMS

•Online distribution channel

Augmented product •Personalisation possible for the pair
with more colours
•Online mix & match with gymshark
outfits on the Gymshark website

•Versatile shoe designs

•Premium by sustainable material
Embodied Product choice
•Sustainable packaging as part of
the "minimizing the final mile"
action (Gymshark, 2020)

Core product •Feet protection which prevents

injuries and improves conditioning
performance

Figure 4 : Product forms based on (author, 2022)

4.2 PRODUCT

Gymshark’s footwear collection will be launched starting with 2 different models: the
Treadmill, and the Deadlift (see Figure 5 & Figure 6). As the aim is to leverage the
athleisure market rise, both pairs will need to make the customer feel confident to
wear them with their gym gear as well as outside of the gym.
(Kulmala et al., 2018).

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Figure 5 : The Treadmill shoe proposal (author, 2022)

Figure 6 : The Deadlift shoe proposal (author, 2022)

4.3 PRICE

Selecting the right pricing strategy is the topic of the following section where a
competitor-oriented approach is first taken to establish a reference price band, and
then a value-oriented approach is used to adjust the price to the targeted customer.

When looking at prices of relatively similar shoes in the market, the retail prices ranges

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from £100 to £200. Following the competitor-oriented approach (Baines, Fill and Page,
2012), this establishes a reference price point for the Treadmill and the Deadlift shoes.

In marketing terms, perceived quality, price and value are related in such a way that
in order to increase the value received by a customer, either the perceived quality
needs to be increased, or the price needs to be decreased (Baines, Fill and Page,
2012). As seen previously, one of Gymshark’s strengths rely on the perceived quality
of the products they offer, with 35% of the customers having an excellent experience
with the existing products (McDonald, 2022b). This helps in bringing the price of both
pairs to a higher point. However, as the target customer ideally already owns a
Gymshark item, the price should not deviate too much from the existing prices at which
Gymshark items are sold at. One of the most popular Gymshark item, the Vital
Seamless Leggings is priced at £45.00 (Gymshark, 2022a), where other products are
priced at a similar price, which indicates the need to get closer to the lower band on
the aforementioned price range.

Taking all the above into account, the following prices are applied, where a higher
price is asked for the deadlift shoe as that one has more available colours:

Figure 7: Retail price for both shoes of the footwear collection (author, 2022)

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 4.4 PLACE

The opening of the first Gymshark store in London (Mintel, 2022) gives the opportunity
to introduce the first footwear collection, where Londoners will have the opportunity to
have a feel for the product. However, the main distribution channel will remain their
online shop, where the other Gymshark products are displayed. As mentioned in their
financial statements, e-commerce is performing well which does not signal any need
to diverge their strategy from that one (Gymshark, 2022b). Moreover, it is worth
pointing out that in the UK, online stores are the preferred channel to purchase
footwear with 73% of the surveyed customers declaring using online stores
(McDonald, 2022a). This is due to the wider selection available online (ibid.). This fits
the target customer, which spends time on e-commerce shops to complement their
existing wardrobe.

Therefore, the main distribution channel for this new collection will remain the online
store.

4.5 PROMOTION

Gymshark is known for making use of influencer marketing to its best, which led to
been voted “Most Influential Active Apparel Brand” in 2022, as they collaborate actively
with fitness influencers (IZEAWorldwide, 2022). This allowed the brand to have a solid
online community in the field. This online community will be used for the launch of the
new shoe collection where a selection of the biggest Gymshark ambassadors will be
reached to collaborate prior to and on the launch of the product, with the creation of
their usual content featuring the new shoe collection.

This will be the starter to a bigger Gymshark event, where customers and fans will be
invited to meet a selection of Gymshark ambassadors. The event location will feature
mostly billboards of the new footwear line.

Secondly, a social media campaign will be launched advertising the shoes in different
environments to advertise the versatility of the shoes and the athleisure trend.

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Finally, “green” pop up stores (see Figure 8) will be placed in Oxford street (London),
Princes Street (Edinburgh), Market street Manchester (Manchester), which combined
had a total average of 4 million pedestrians per month in 2021 (Smith, 2022).

Figure 8: Green pop-up store proposal for the advertisement of the sustainability
commitments

As seen in Figure 9, these promotional steps all have a place in the personal selling
process known as AIDA, which describes the steps for a customer to buy a product
(Baines, Fill and Page, 2012).

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 Awareness
• Influencers posts about the Gymshark event where a surprise launch is expected
• Gymshark posting their "Coming soon" post on Instagram, Facebook, Twitter, and
TikTok -> Creates curiosity about the new launch.

Interest
• After the reveal of the designs during the event, the shoe collection is advertised all
around the event and the camapaign about the athleisure trend runs.

Desire
• Incluencers get hold of the pairs and advertise them in their workout videos
and on their social media

Action
• Green pop up stores are introduced in London, Edinbrugh and Manchester
-> brand in green and will mainly advertise their efforts in making these pairs in
an environmentally conscious way (Gymshark, 2020)
• The collection is made available on the Gymshark online shop

Figure 9 : AIDA model by the author (2022) adapted from (Baines, Fill and Page, 2012)

5. CONCLUSION

The aim of this report was to introduce a marketing plan for the launch of Gymshark
in the athletic footwear market. Using a PESTEL and SWOT analysis, the external
and internal environment of this market launch was investigated. This highlighted the
opportunity for Gymshark to make use of their strong social media community to
follow the growing trend of the athleisure market in the UK.

Available mainly through their online shop, a new athletic footwear collection has
been designed to target the “influencer” consumer profile. At a retail price ranging
between £119.99 and £139.99, this new shoe collection will position Gymshark at
the crossroad between technology and fashion. For this market launch to happen, a
set of steps including a Gymshark event, a social media campaign and pop-up
stores in the UK has been developed.

As the athleisure market is in fact not limited to the customer segment chosen, it is
advised to initiate the launch with that one, but to follow up on “the bodybuilder”
customers in the following years, to include Gymshark’s current customers.

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Moreover, this market launch can also be used to follow up on Gymshark’s
commitments to reduce their environmental impact and be transparent about it. This
effort will be communicated in mass by making use of “green” pop-up stores during
the launch campaign.

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