Published on : Jan 13, 2016
The retail sporting goods industry is sprinting forward with an unbeatable speed. This industry that only had a few players some years ago, has many small and medium-sized players today. From local manufacturers to biggest international players, the retail sporting goods industry is being propelled by tough competition and rise in the number of sporting events. This industry is also being driven by government efforts and initiatives to support sporting activities at school levels and also train sportsmen to match international standards. This trend is especially picking up pace in the developing nations.
Regions such as Asia Pacific and Rest of the World are expected to witness a leap in the revenue of retail sporting goods industry. The factors supporting this growth rate will be the rising disposable income of the overall population in these regions, improving standard of living, and increasing participation of people in sporting events. The global retail sporting goods market is inclusive of athletic footwear, athletic apparel, and sporting equipment. The other crucial factor complementing this success is the sudden growth in consumer awareness regarding fitness and healthy living. This has become a terrific undercurrent and a pivotal selling point for sporting goods companies to position their products and turn it into a lucrative opportunity.
The new approach by top players in the retail sporting goods industry at business and marketing is also winning accolades and generating better revenue. For instance, the recent move by Reebok and DanceOn to collaborate for a year is not only giving renowned dancers to be global brand ambassadors for Reebook Studio Collection, but also connecting dancing with fitness to lure in more customers. According to Barbara Ebersberger, Vice President of Reebook Studio, dance will help the customers retain their individual style, while uniting them with many others across the globe on the grounds of achieving fitness. Some of the important companies to watch out for in the coming year will be Adidas AG, Nike Inc, Puma AG, Foot Locker, Inc., and Dick’s Sporting Goods, Inc.