Start by holding your hoop upright with the connectors at the top & bottom of the hoop like so…
Place each hand on either side of the top connector.
Push down on the hoop while slightly twisting your right hand towards you & your left hand away from you.
Then fold one side of the collapsed hoop over the other side, folding it in half.
Voila! Now your hoop is collapsed!
Usually the hoop tries to unfold and will not stay collapsed (which is why my hand is in this pic). So I usually tie the hoop together with a pretty ribbon to keep if from unfolding.