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The U.S. sporting goods and outdoor market

U.S. sporting goods and outdoor retail sales exceed $70 billion annually, according to 2021 data from the National Sporting Goods Association.

First and foremost, the U.S. outdoor and sporting goods sector is comprised of three main categories: equipment, apparel and footwear.

Each of these categories contains different product sets to support a variety of activities, such as hunting, fishing, camping and shooting, as well as other sporting goods activities.

At the enterprise level, for example, Sportsman’s Warehouse competes in the large, growing and fragmented outdoor and sporting goods market, which this company believes is currently underserved by full-line multi-activity retailers.

The company operated 122 stores in 29 U.S. states as of January 29, 2022.

Sporting Goods

Sportsman’s Warehouse believes that growth in the U.S. outdoor and sporting goods market is driven by several key trends, focused on enhancing performance and enjoyment during outdoor and sporting activities, including new product introductions, and consumer demand resiliency for purchases in these categories versus other discretionary categories.

The company also projects that these factors will continue to drive growth in the outdoor and sporting goods market in the future.

Within the sporting goods retail sector, Sportsman’s Warehouse operates primarily in the outdoor equipment, apparel and footwear segment, which includes hunting and shooting sports, fishing, camping and boating.

This segment is growing at a faster rate than the sporting goods industry as a whole.

Shopping

The 2016 U.S. Fish and Wildlife National Survey, released once every five years, found that participation in fishing increased 9%, and participation in wildlife-related recreation rose 6%, for Americans 16 and older from 2011 to 2016.

In addition, specialty retailers have generated incremental sales volume by expanding their presence, especially in smaller communities, which has increased customer access to products that were previously less available.

The nature of the outdoor activities that Sportsman’s Warehouse engages in requires recurring purchases throughout the year, resulting in high conversion rates among customers.

For example, active anglers often purchase different fishing gear throughout the year depending on the seasons and changing conditions.

Hunting with firearms is often accompanied by recurring purchases of ammunition and cleaning products throughout the year and various styles of firearms for different game hunted.

 

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