Sporting Goods Stores in the US - Industry Market Research Report

Sporting Goods Stores in the US - Industry Market Research Report
Sporting Goods Stores in the US

Over the past five years, the Sporting Goods Stores industry has experienced strong demand from health-conscious consumers as sports participation has increased, requiring more athletic apparel, footwear and other sporting goods for their fitness regimens. Further, alternative exercise methods have gained popularity, with many individuals participating in CrossFit and yoga, stimulating demand for related sporting goods, apparel and footwear. According to the American College of Sports Medicine, one of the most popular fitness trends includes fitness classes for older adults, increasing demand for athletic apparel, footwear and ergonomic sports equipment from this demographic. The industry has further benefited from consolidation, which has enabled large-scale sporting goods retailers to bypass sporting wholesalers, securing supply contracts directly with manufacturers. Industry revenue is expected to increase an annualized 3.0% to $64.2 billion over the five years to 2023 as the industry continues to expand, including 0.2% growth in 2023 alone.

Sporting goods stores primarily retail new sporting goods, including bicycles, camping equipment, exercise and fitness equipment, apparel, footwear and other goods and accessories. Products are sourced from sporting goods manufacturers and wholesalers and then sold to the general public via retail stores. Department stores, mass merchandisers and retailers that exclusively sell apparel are not included in this industry.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.