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Although online retailing has remained a considerably stable distribution channel for the sales of sports equipment in the past, it is expected to gain more prominence in the future due to the associated convenience, finds a Mordor Intelligence report. Specialty stores, however, hold the largest share in the current market scenario, the report notes. The sports and leisure equipment market is projected to register a compound annual growth rate of 4.5% over the next five years. Increased online retailing, widely spreading distribution channels, and easy availability of sports equipment and necessary courses required for tournaments and other competitions are expected to boost market growth. ON YOUR MARK, GET SET, GO SHOPPING
BE A GOOD SPORT The sporting goods industry played a good game during the past two years, with growth equaling or outperforming pre-pandemic levels, but economic conditions could derail progress for some industry players, according to Sporting Goods 2023: The Need For Resilience In A World In Disarray , a study conducted by the World Federation of the Sporting Goods Industry and McKinsey. The study identifies six actions that active lifestyle companies can take to tackle inflationary and other economic pressures: 1. Implement smart pricing and channel management. Data and analytics related to price elasticity and competitor offerings could inform flexible pricing strategies and revenue management to protect net margins and limit volatility. 2. Reset return on investment. Conduct a top-down review of efficiency by channel and SKU to invest for growth. 3. Strengthen brand communications. Optimize and refocus communications on the brand’s core value proposition to help boost revenue. 4. Build supply chain resilience. Review sourcing and supply chains and apply next-generation levers to the cost base. 5. Foster next-generation organization productivity. An agile approach and innovations, including robotic process automation, could lead to long-term savings. Review warehousing and transportation costs to increase productivity. 6. Optimize finance. Focus on freeing up cash and exploring divestments and acquisitions.
10 BEST-SELLING SNEAKERS OF ALL TIME 1. Nike Air Jordan 1 2. Converse Chuck Taylor All Stars 3. Nike Air Force 1
4. Air Jordan XI 5. Air Penny 2 6. Air Jordan XII
7. Nike Zoom Kobe IV 8. Reebok the Question 9. Converse Weapon 10. Nike Air Zoom Huarachie 2K4
August 2023 • Inbound Logistics 13
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