Hiking and Outdoor Equipment Stores in the US Industry Market Research Report Now Available from IBISWorld

Although external competition will remain a challenge to the Hiking and Outdoor Equipment Stores industry as hiking and outdoor equipment becomes increasingly pervasive in other stores, expansion in total recreation expenditure will boost demand over the next five years. For these reasons, industry research firm IBISWorld has added a report on the Hiking and Outdoor Equipment Stores industry to its growing industry report collection.

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Steadily expanding recreation expenditure has supported industry sales

Los Angeles, CA (PRWEB) April 08, 2013

Consumer enthusiasm for outdoor activities rose during the past five years despite low disposable income. In fact, IBISWorld estimates that disposable income declined 0.1% per year on average during the five years to 2013, while total recreation expenditure expanded 0.7% per year on average to $360.8 billion. The Hiking and Outdoor Equipment Stores industry has benefited from this market expansion, says IBISWorld industry analyst Agata Kaczanowska, with industry revenue anticipated to increase 2.1% annually on average to $4.7 billion during the five-year period.

To keep up with demand, nonindustry retailers have expanded their hiking and outdoor equipment offerings during the past five years, boosting direct competition for many industry stores. “This move forced smaller industry operators to either generalize their offerings and capture a wider market or to specialize in a particular sport and harness their particular expertise,” says Kaczanowska. “The heightened competition, combined with tight access to credit during and after the recession that forced some businesses to close, led to many company exits.” As a result, the number of industry players is estimated to decline at a 3.4% annualized rate to 1,530 in 2013.

Major companies like REI and Patagonia responded to rising competition by capitalizing on staff expertise and in-house manufacturing capabilities to attract consumers. For example, these companies focus more on in-store events like classes, book signings and movie screenings to bring consumers in to explore their products. Stores have also harnessed new technologies like social media and mobile applications to entice shoppers and built consumer loyalty through rewards programs. The Hiking and Outdoor Equipment Stores industry’s other leading players include Timberland and The North Face, both owned by parent company VF Corporation.

Although the industry will continue growing over the next five years as total recreation expenditure expands, external competition will remain a challenge as hiking and outdoor equipment becomes increasingly pervasive in other stores. This trend is expected to result in industry consolidation and continued closure of smaller companies. For more information, visit IBISWorld’s Hiking and Outdoor Equipment Stores in the US industry report page.

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IBISWorld industry Report Key Topics

Retailers in this industry primarily sell hiking and outdoor sports equipment, with a specific focus on camping and hiking supplies. Specialty sports stores, like golf, paddle sport or ski shops, general sports stores and online-only retailers are excluded from the industry.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.


Contact

  • Gavin Smith
    IBISWorld
    310 866 5042
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