Get a full analysis of the European numbers
The 21 US retailers represented in our ranking of 51 include nine that had higher year-over-year sales and a dozen whose annual revenues fell. This mature sporting goods market produced $60,481 million in aggregate 2023 sales, versus $61,127 million in 2022, for a 40.8 percent market share. But that share was down by 120 basis points year-over-year.
Not a subscriber yet?
Dive deeper into the sporting goods industry with the latest insights and stories – straight to your inbox!
Subscribe Now
While specific segments – outdoor and apparel particularly – underperformed broadly, the main headwind was shaky consumer confidence, affected by high inflation, rising interest rates and job insecurity. Many retailers noted that US consumers needed a reason to buy last year, whether it was for a must-have item or a key shopping occasion. Otherwise, they largely stayed home.
Asia market has the largest percent gain in 2023
The top two retailers in Asia – Topsports and Pou Sheng, which operate thousands of stores across China for Western brands – accounted for $6,916 million in annual sales in 2023, or 44 percent of the 10.75 Asian retailers in our ranking (75% of Sportmaster’s yearly sales are credited to Asia). In total, the region’s 10.75 retailers generated $15,729 million in aggregate 2023 sales, an increase of 10.3 percent from the $14,263 million of 2022. The group collectively bounced back from pandemic-related restrictions. The sales of retailers in emerging markets jumped by 12 percent in 2023, far outperforming the 1 percent growth in more developed markets, and contrasting with the 10 percent drop in 2022, when sales for retailers in developed markets increased by 12 percent.
The retail businesses of Indonesia’s MAP Active and Hong Kong’s Swire Group led the region’s sales gains in 2023, while only KMD Brands declined, because of persistent weakness in the Australian and New Zealand markets.
Brazil and Canada represented by three retailers
The US neighbor to the north, Canada, is represented by two retailers on the list, Lululemon and Canadian Tire/FGL Sports. Lululemon’s nearly 20 percent sales growth for the year helped the duo achieve an aggregate sales gain of 10.7 percent in 2023, given that Canadian Tire/FGL Sports’ revenues declined by 8 percent for the year in local currency.
Centauro is the only South American retailer represented on the list. The Brazilian group generated a 27 percent gain in 2023 sales in local currency to more than $1.1 billion US dollars. That total was strong enough to secure the 26th slot on our annual list.
Back to the top
Methodology:
Our data come primarily from publicly reported figures. We have used our own estimates, input from management, other sources and third-party reports from rating agencies for private companies. We cover sports bikes in our study, but not bikes used for urban transportation.
All figures reported in currencies other than euros are converted at the average exchange rate for the year. Figures are stated as reported by the companies, representing net revenues.
Access more of our exclusive annual Market Analysis content section today. At SGIEurope.com, you can find:
Our database of data visuals with downloadable infographics, data and charts is also available and updated with a new infographic every week. Become a PREMIUM member to download the charts and data.
Source link : https://www.sgieurope.com/market-analysis/latest-industry-analysis/largest-sporting-goods-retailers
Author :
Publish date : 2024-10-24 06:56:00
Copyright for syndicated content belongs to the linked Source.