While the overall retail market struggled to make it into the black after Thanksgiving, the snow sports market remained healthy with 3% growth according to SnowSports Industries America's (SIA) exclusive research. August to November snow sports sales surpassed $917 million as the overall retail market faltered in the recession's nadir. Cross country ski equipment is a bright spot in the hard goods category with 14% growth season over season.
Snow sports shoppers are willing to spend their money on snow sports equipment, apparel and accessories even when the overall economy is significantly down. August to October snow sports sales of $507 million were up 9% overall bolstered by very strong sales of carryover equipment and gear for juniors. “Snow sports shoppers went out looking for bargains and they were willing to buy when they found them,” said Kelly Davis, Director of Research for SnowSports Industries America (SIA), the not-for-profit industry trade group represents manufacturers and distributors of snow sports products.
SnowSports Industries America (SIA) recently released its End of the Season Survey from the SnowSports Consumer Panel. The Panel is designed to represent all snow sports participants in the U.S. market. An online survey was sent to over 3,300 Consumer Panel members to find out how consumers use online product reviews when researching and purchasing snow sports products. According to the Panel, the majority of snow sports participants (86.4%) said that they take the time to read online product reviews that other consumers have written before purchasing new products.
The snow sports products market grew by $280 million to reach $2.97 billion for the 2007.08 season, up from approximately $2.69 billion in all channels last season. Equipment sales were relatively flat in specialty shops and chain stores but increased by more than $40 million in online sales. Apparel sales increased by more than $100 million with snowboard tops and parkas selling very well in all channels.
In a besieged economy, the snow sports market is booming with $2.35 billion in sales representing a growth rate of approximately 13 percent over the same period last season. “The subprime mortgage crisis, the falling value of the dollar, increasing prices for consumer goods, and the high price of petroleum have hit the economy very hard but when the snow is good nothing will keep people off the slopes,” said Kelly Davis, Director of Research for SIA.
SnowSports Industries America (SIA) has published its 2007 Intelligence Report -- a comprehensive account of the state of the snow sports industry.
Dubbed the largest winter sports specific trade show in the industry, the 36th annual SIA Show did not disappoint. Exhibitors displaying new product lines for the 2007-08 season represented over 95% of the market share for the ski and snowboard sectors and 80% of the Nordic, telemark and snowshoe market. With over 353,000 net exhibit square feet and 447 exhibitors representing nearly 900 brands exhibiting in over 3500 booths – SIA.07 was THE show for the snow sports industry.
The first four stages of the recently completed research study, The Model for Success, are now available for distribution to the snow sports industry. The Model for Success was commissioned by SnowSports Industries America (SIA) and conducted by Leisure Trends Group.
Five new brands - Grabber, Granger, Kahtoola, Panoptx and PEPSICO – have signed on to sponsor Winter Trails, 2007. The international program, now entering its 12th year, offers those new to snow sports an opportunity to try snowshoeing and cross country skiing FREE on January 6, 2007. The five brands join 21 returning from last year.
SnowSports Industries America (SIA) is proud to announce the winners of the first-ever SIA SnowSports Regional Rep of the Year Award. This award recognizes those sales reps in the snow sports industry that have successfully fostered relationships with retail storefronts to help move winter sports products.