Agility training for sporting goods businesses

Over the course of the last 12 months, the several national, and sometimes regional, restrictions have meant closures of all leisure and sport facilities (training grounds, sports clubs, centres, and gyms) and put a pause on team activities. It has no doubt been an uncertain time for those operating within the sport and leisure sectors, and forced many businesses to re-evaluate their approach.

We explore:

1. How the sports retail landscape has evolved throughout 2020
2. What the predicted directions are for the sector in 2021
3. How EDI for sports retail & leisure could be key for businesses to remain agile and get a one-up on their competitors…

The subsequent lockdowns of the last year have negatively impacted sporting goods sales. This has come down to the restrictions placed on team sports, attending sporting grounds and clubs, as well as training centres and gyms. The result of this is shown in the lack of sales across the board as many households have less disposable income due to furlough schemes or job losses, merchandise sales have also plummeted as large sporting events are put on hold.

However, several areas of opportunity were also identified over the course of 2020 leading, with brands adapting their strategies to these new trends in the sector;

• With group sports and activities restricted, singular sporting activities see an increase, as more people take up running, walking, and cycling

“Bosses at Halfords believe they will manage to double profits after bike sales soared among stuck-at-home Brits. The retailer said it expected pre-tax profits for the year ending in April would hit between £90 million and £100 million, up from £52.6 million a year earlier.” (Retail gazette)

• With the number of people working from home and with a reduced need for smarter attire, athleisure apparel has become a trend wear functionality meets casual wear.

“M&S said 52 per cent of its customers reported wearing activewear more as everyday clothing last year. Between March and September, activewear sales on M&S.com were up by 200 per cent.” (Reatil Gazette)

• With gyms and sports centres closed, people have turned to buying home fitness equipment and online/digital training programmes

“Physical activity is evolving, leading to new business models of connected fitness.” – A. Arana, SVP/General Manager Global Product, adidas (McKinsey & Company Sporting Goods 2021 report)

So, with sport retail, leisure centres & gyms, and sporting events due to gradually reopen during 2021, how much has changed? How have brands responded to these new trends? And what should sport retail businesses be prepared for?