2021
9
US Sporting Goods Retail Market Report 2021
2021-11-04T03:17:47+00:00
OX1045137
3695
144173
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Report
en_GB
“The pandemic took an industry on the decline and launched it to record breaking growth. Brands and retailers are setting new revenue records and looking to expand with new locations…

US Sporting Goods Retail Market Report 2021

£ 3,695 (Excl.Tax)

Report Summary

Providing the most comprehensive and up-to-date information and analysis of the US Sporting Goods Retail market including the behaviors, preferences, and habits of the consumer.

Current Market Landscape

Nearly 40% of consumers are willing to pay more for top brands in sporting goods because they provide the best quality, which increases to 45% for parents. As such, sporting goods brands and retailers should focus on communicating the value added through quality brands and items offered – especially when targeting parents who will be shopping for their children and themselves.

COVID-19 completely rejuvenated the sporting goods market. The industry had been on a slight decline and the pandemic led to record breaking growth (18.2% in 2020 and 35.6% estimated for 2021). While the near exponential growth is unlikely to continue, the pandemic very well may have reset the market.

Future Market Trends in the US Sporting Goods Retail Market

The category experienced incredible growth after the onset of the pandemic. The market is now nearly double what it was prior to COVID-19. While new consumer demand and habits are likely to sustain themselves over the next few years, a precipitous drop off in market value closer to pre-pandemic levels remains a possibility.

Women’s sporting goods and men’s athleisure are two overlooked categories within the industry. That tide is starting to change, as brands from all across the sporting goods industry are upping their investment in the respective categories. Industry leader Dick’s Sporting Goods is investing in both opportunities and when the industry leader takes a strong stance, other brands are likely to follow.

Read on to discover more about this Sporting Goods Retail report, read our US Sporting Goods Retail Market Report 2019, or take a look at our other Sports Market research reports.

Quickly understand

  • The impact of COVID-19 on consumer behavior and the sporting goods retail market.
  • Strategies from industry leaders.
  • Creating enhanced consumer experiences across channels.
  • Perceptions of various types of sporting goods retailers.

Covered in this report

Brands include: Nike, Brine, Adidas, Facebook, Apple, Amazon, Google, Under Armour, Callaway, On running, Fitbit, Halo, Oculus Move, Apple Watch, Siq Smart Basketball, Peloton, Fanatics, Barnes & Noble, Topps, NFL, NBA, MLB, VRST, NCAA, WNBA, Tonal, Gucci, Louis Vuitton.

Sporting goods stores include: Dick’s Sporting Goods, House of Sport, Public Lands, Sports Authority, Wilson Sporting Goods, Foot Locker, Macy’s, Nordstrom, REI.

Expert analysis from a specialist in the field

This report, written by Colin O’Brien, a leading analyst in the Sports sector, delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.

The pandemic took an industry on the decline and launched it to record breaking growth. Brands and retailers are setting new revenue records and looking to expand with new locations and offerings, such as new immersive in-store experiences and improved cross-channel shopping options, to capitalize on the new demand. While exponential growth is unlikely to continue, the pandemic very likely reset the market value of the sporting goods retail industry.

Colin O’Brien, Sports Analyst
Colin O’Brien
Sports Analyst

Table of Contents

  1. Overview

    • What you need to know
      • This Report looks at the following areas
        • Definition
          • Economic and other assumptions
            • COVID-19: US context
            • Executive Summary

                • Top takeaways
                  • Sporting goods appeal to all types of consumers
                    • Dick’s Sporting Goods stays nimble and innovative
                      • Sporting goods place emphasis on sustainability
                        • Market overview
                          • Figure 1: Total US revenues and fan chart forecast of sporting goods stores, at current prices, 2016-26
                        • Impact of COVID-19 on sporting goods retail
                          • Figure 2: Short-, medium- and long-term impact of COVID-19 on sporting goods retail, October 2021
                        • Opportunities and challenges
                          • Focus more on DTC efforts
                            • Women’s sporting equipment and men’s athleisure both offer overlooked markets
                              • Look to immersive in-store experiences to stand out
                                • Brand name products provide value, but at a cost
                                • The Market – Key Takeaways

                                  • COVID-19 completely revitalized the sporting goods industry
                                    • Sporting goods place emphasis on sustainability
                                      • The Big Four tech brands embrace fitness
                                      • Market Size and Forecast

                                        • Sporting goods experienced sharp growth
                                          • Figure 3: Total US revenues and fan chart forecast of sporting goods stores, at current prices, 2016-26
                                          • Figure 4: Total US revenues and forecast of sporting goods stores, at current prices, 2016-26
                                        • Impact of COVID-19 on sporting goods retail
                                          • Figure 5: Total US revenues and the effect of the pandemic, at current prices, 2016-21
                                      • Segment Performance

                                        • Clothing and accessories lead the way, but other segments helped the industry’s surge
                                          • Figure 6: Sporting goods store sales by product category, 2017
                                        • Bikes and golf equipment surge post pandemic
                                          • Figure 7: Sporting goods stores’ share of total sales of select product categories, 2017
                                      • Market Factors

                                        • Growing retail store count
                                          • Sporting goods place emphasis on sustainability
                                            • The Big Four tech brands embrace fitness
                                              • Smart sporting goods promote fun and enhance practice
                                                • Figure 8: SIQ smart basketball
                                              • Macroeconomic indicators contribute to strong growth of sporting goods
                                                • Figure 9: Disposable Personal Income change from previous period, 2007-21
                                                • Figure 10: Consumer Sentiment Index, 2007-21
                                            • Companies and Brands – Key Takeaways

                                              • Nike embraces direct to consumer techniques
                                                • Dick’s Sporting Goods stays nimble and innovative
                                                  • Women’s sporting equipment and men’s athleisure both offer overlooked markets
                                                  • Competitive Strategies

                                                    • Fanatics branches out beyond apparel
                                                      • Nike increases focus on DTC approach
                                                        • Figure 11: Nike drives consumers to its SNKRS app
                                                      • Dick’s Sporting Goods is innovative and agile to meet the moment
                                                        • Peloton turns to new verticals to deepen connection with consumers
                                                            • Figure 12: Peloton launches branded apparel
                                                        • Market Opportunities

                                                          • Invest in women’s sporting goods to tap into the growing market
                                                            • Expand men’s athleisure offerings
                                                              • Offer shoppers flexibility to enable more purchases
                                                                • Create immersive in-store experiences to stand out
                                                                  • Figure 13: Interest in experiential in-store offerings, by generation, 2021
                                                                  • Figure 14: Nike immersive store
                                                              • The Consumer – Key Takeaways

                                                                • Sporting goods appeal to all types of consumers
                                                                  • Amazon and Dick’s Sporting Goods lead the way as sporting goods retail leaders
                                                                    • Brand name products offer high quality but increased cost
                                                                    • Items Purchased

                                                                      • Majority of consumers purchase sporting goods with athletic clothing and footwear leading the way
                                                                        • Figure 15: Sporting goods items purchased, 2021
                                                                        • Figure 16: Sporting goods items purchased NET, by parental status, 2021
                                                                        • Figure 17: Sporting goods items purchased NET, by generation, 2021
                                                                      • Weekly exercise is up for both adults and children
                                                                        • Figure 18: Sporting participation, 2021
                                                                        • Figure 19: Sporting participation, by parental status, 2021
                                                                        • Figure 20: Sporting participation, by generation, 2021
                                                                    • Types of Sporting Goods Purchase History and Interest

                                                                      • Consumers are intrigued by new sporting goods offerings
                                                                        • Figure 21: Sporting goods items purchase history and interest, 2021
                                                                      • Consumers want more fashionable activewear
                                                                        • Celebrity collections bring increased attention and interest
                                                                          • Create products and spaces with local inspiration
                                                                            • Figure 22: Cleveland Cavaliers local apparel collection
                                                                          • Brands should embrace charity and social initiatives
                                                                            • Pre-owned and rented sportswear offer another, less expensive avenue for activewear
                                                                            • Channels and Retailers Shopped

                                                                              • Consumers shop across channels; the pandemic spurs increases in ecommerce
                                                                                • Figure 23: Sporting goods shopping method, by generation, 2021
                                                                              • Amazon and Dick’s Sporting Goods lead the way among retailers shopped past 12 months
                                                                                • Figure 24: Retailers shopped for sporting goods past 12 months, 2021
                                                                                • Figure 25: Retailers shopped for sporting goods past 12 months, by generation, 2021
                                                                              • Consumer perceptions of types of sporting goods retailers
                                                                                • Figure 26: Sporting goods retailers perceptions, 2021
                                                                              • Convenient and online shopping
                                                                                • High quality and good value
                                                                                  • Good service and knowledgeable employees
                                                                                    • Fun shopping experience and innovation
                                                                                      • Good rewards program benefits
                                                                                        • Wide product selection and offers the best brands
                                                                                        • Attitudes toward Shopping for Sporting Goods

                                                                                          • Brand name products provide value, but at a cost
                                                                                            • Figure 27: Sporting goods attitudes, by parental status, 2021
                                                                                          • Younger consumers look for guidance more when shopping for sporting goods
                                                                                            • Figure 28: Sporting goods attitudes, by generation, 2021
                                                                                          • Consider sporting goods for gifts
                                                                                          • Appendix – Data Sources and Abbreviations

                                                                                            • Data sources
                                                                                              • Forecast
                                                                                                • Consumer survey data
                                                                                                  • Consumer qualitative research
                                                                                                    • Abbreviations and terms
                                                                                                      • Abbreviations
                                                                                                      • Appendix

                                                                                                          • Figure 29: Total US revenues and forecast of sporting goods stores, at inflation-adjusted prices, 2016-26
                                                                                                          • Figure 30: Sporting goods items purchased for self, by parental status, 2021
                                                                                                          • Figure 31: Sporting goods items purchased for others, by parental status, 2021
                                                                                                          • Figure 32: Sporting goods items purchased NET, by gender, 2021
                                                                                                          • Figure 33: Sporting participation, by household income, 2021
                                                                                                          • Figure 34: Sporting goods attitudes, 2021

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