LONDON--(BUSINESS WIRE)--The sporting goods industry was expected to grow exponentially in the coming years. However, like many other industries, the growth trajectory was significantly hampered by the COVID-19 pandemic. The economic, political, and social impact of the pandemic led to significant losses for industry players. As the world prepares for the new normal, the sporting goods industry must prepare for expected growth drivers to develop and market offerings that meet their consumers’ demands and propel their business forward. With in-depth insights into the market, growth drivers, and ideal strategies to capitalize on them, industry players can stay a step ahead of competitors, overcome the impact of COVID-19, and enter the post-COVID era with more robust strategies. To prepare for the post-COVID era and gain a comprehensive understanding of the growth drivers propelling the sporting goods industry forward, request a free proposal.
Nationwide lockdowns, social distancing, and new hygiene protocols due to the COVID-19 pandemic have hampered growth in the sporting goods industry over the past year. Outdoor sports activities, extensive athletic training, and leisure sports came to a sudden stop for the majority of a year and caused significant losses for retailers and manufacturers in the sporting goods industry. This industry is fast-paced and susceptible to significant changes due to trends, challenges, and consumers’ changing demands. To grow in a market as challenging and competitive as this, industry players need to stay a step ahead of changing market dynamics, identify and capitalize on industry trends, and mitigate potential risks. In a dynamic market, identifying significant growth drivers and strategizing for them is challenging but imperative. Therefore, many industry leaders choose to partner with research firms to gain a comprehensive understanding of their market, identify profitable opportunities, and propel growth for their business. In their latest article, Infiniti’s industry experts highlight significant growth drivers for sporting goods industry players to capitalize on in the coming year and post-COVID era.
Gain in-depth insights into growth drivers and trends in the sporting goods industry by reading the complete article.
“While the world is waiting for a potential end to the pandemic, retailers, and manufacturers in the sporting goods industry need to identify and capitalize on significant growth drivers strategize for them, and scale their business and the industry in the post-COVID era,” says a sporting goods industry expert at Infiniti Research.
Infiniti’s industry experts identified the following three major growth drivers in the sporting goods industry:
- Consumers have become more conscious about health and wellness, causing an upsurge in sports activities and increased focus on fitness, which is expected to further propel the sporting goods industry in the post-COVID era
- In recent years the disposable income available to consumers has increased significantly; although there were economic challenges during the pandemic, once industries restore functionality, consumers will have the power to invest in their wellness again.
- The increasing population and rising prevalence of diseases, obesity, and cardiovascular issues have encouraged governments to support and promote physical activity, exercise, and fitness. This has led to more support for professional sports careers and general activity daily.
Infiniti Research has helped many companies in the sporting goods industry maintain business continuity and prepare for growth in the post-COVID era. To learn how our solutions can help your business champion your industry, request more information.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to analyze competitive activity, see beyond market disruptions and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us