Sporting goods market to benefit from Olympics boost

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Sporting goods market to benefit from Olympics boost

By: Jeff James

Listed Under: Top Story

Published: Wednesday, July 20, 2011

The London Olympic Games are expected to give the UK’s sporting goods industry a major boost over the next two years, according to a new report from sports equipment company Amer Sports.

The sporting goods sector - which includes equipment used in all ball sports, outdoor activity and gym and fitness regimes - is anticipating a strong sales recovery between now and 2013, led by the high profile surrounding the Games.

Much of the growth in spending on sports goods is likely to be shared among the biggest brands in the industry, as consumers are expected to gravitate more towards established names.

New research among leading sports and outdoor retailers and buyers confirms the trend and shows one in five pointing to a significant 33 per cent swing towards established brands since 2008.

Last year an estimated £7.7 billion was spent on sporting goods in the UK, with cycles, footwear and apparel at the top of shopping lists - putting the nation in fifth spot in a global industry believed to be worth £172 billion in 2010.

The UK Sporting Goods Report is the first published by Amer Sports since the beginning of 2008 - the year that saw the biggest economic downturn in generations.

It highlights the track record of major events like the Olympics and FIFA World Cup in lifting sales of sporting goods across all sports.

Amer Sports, which includes among its portfolio brands such as Wilson, Salomon, Precor, Atomic, Suunto, Mavic and Arc’teryx, believes that working with retail partners to introduce innovative new products holds the key to future success.

Picture credit: London 2012.