“短命”体培

Core Insights - The sports training industry in China is experiencing a systemic contraction, with major players facing operational difficulties and closures, leading to widespread complaints from parents and financial distress among coaches [1][2][3] - The initial boom in the industry was driven by favorable policies and a surge in consumer spending, but subsequent regulatory changes and economic pressures have led to a significant decline in participation and revenue [4][5][6][10][34] Industry Overview - The sports training sector began to flourish around 2015, coinciding with the "mass entrepreneurship and innovation" policy and the "two-child" policy, resulting in a rapid increase in the number of sports training enterprises [4][5][6] - By 2015, the industry saw a financing boom, with numerous startups emerging and attracting significant investment, as parents were willing to spend on their children's extracurricular activities [8][12][13][14] Market Dynamics - The peak of the industry occurred between 2016 and 2017, with a record birth rate and supportive government policies fueling growth [10][11][12] - However, by 2018, signs of a downturn began to emerge, with increased scrutiny from regulators and financial challenges for many smaller institutions [17][18][19][21] Recent Trends - The COVID-19 pandemic in 2020 severely impacted the industry, leading to a drastic reduction in financing and a shift in consumer behavior as parents paused spending on extracurricular activities [27][30][31] - The introduction of the "double reduction" policy in 2021 initially revitalized interest in sports training, but the long-term sustainability of this growth remains uncertain as parents become more cautious with their spending [34][35][39] Current State - As of 2023, the industry is characterized by a high number of training institutions with low student attendance and financial viability, with many parents opting for pay-per-class models rather than long-term commitments [46][47] - The regulatory environment continues to tighten, with new standards being implemented that restrict the marketing of sports training in relation to academic performance [48][50] Future Outlook - The industry is bifurcating into two paths: one focusing on targeted training for academic performance and the other on extracurricular achievements for college applications [54] - The overall sentiment among industry players is cautious, with many acknowledging the challenges posed by economic constraints and changing consumer priorities [55][56][58]