Despite the economic slowdown, the Mercanti Group predicts steady industry growth in the sporting goods industry. The Mercanti study indicates that significant private venture funds are being invested in the industry which was valued at $110 billion at the retail level.
Here are a few indicators that suggest a robust market is primed for competition:
- Growing trend among students to specialize in a sport and play it year-round means demand for that equipment and related supplies such as braces to prevent injury from repetitive stress will increase.
- Online sales of sporting goods equipment continues to increase.
- The 5 top retailers in the industry control just under ¼ of all industry sales which means other retailers have an opportunity to grow revenue.
Discuss thes trends with your sporting goods clients and map out a marketing program to increase business.
Mercanti Group release, May 28, 2008