Sporting Goods Stores Industry Profile

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Excerpt from Sporting Goods Stores Industry Profile

Companies in this industry operate physical retail stores specializing in sporting goods, athletic and fitness wear, fitness equipment, and related products. Major companies include Bass Pro Shops, Big 5 Sporting Goods, Cabela's, DICK'S Sporting Goods, Hibbett Sports, and Recreational Equipment, Inc (REI) (all based in the US), as well as Canadian Tire (Canada), Decathlon and Groupe GO Sport (both in France), and Sport Direct International (UK).

The global retail market for sporting goods is forecast to reach about $200 billion by 2024, according to Statista. The US is the key market in the sports apparel and footwear industry, accounting for over 30% of the market. Developing regions such as Asia/Pacific, Central and Eastern Europe, the Middle East, and Latin America are expected to see more rapid growth.

The US retail sporting goods industry includes more than 20,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $45 billion.

COMPETITIVE LANDSCAPE

Sporting goods retail has faced significant disruption in recent years. Many chains including City Sports, Sports Authority, Sports Chalet, MC Sports, and most recently family-owned Modell's Sporting Goods have gone out of business. While the full extent of the damage to the industry from the economic shutdown due to COVID-19 remains to be seen, demand for sporting goods plummeted as retailers closed up shop. Small- and medium-sized operators, especially those without a significant online presence, are especially vulnerable ...

 
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