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Golfers are the biggest spenders

8.45am 13th February 2004 - Management Topics

Golfers spend the most on personal sports equipment according to the latest report from leading market intelligence provider, Key Note. Overall the golf equipment market was worth an estimated £325m in 2003, taking a 35.1% share of the total UK sports equipment market.
Says Simon Taylor of Key Note, “Golf is the most commonly played of the personally equipped sports with 4.9% of adults playing it regularly in 2003. While this may seem like a low proportion it is almost double the participation rate of badminton, the next most popular sport where personal equipment is required.”
The report predicts that the outlook for the sports equipment market is favourable with a growth of 30% forecast in value terms between 2004 and 2008, taking the total market to £1.3bn. Most growth is expected to come from existing participants spending more on their equipment in order to improve their performance, particularly as more technical and sophisticated equipment is produced. Amateurs are also seeking to use professional equipment, therefore increasing their average spend.
Despite the variety of outlets from which sports equipment is now available, the report demonstrates that it is still the specialist sport and outdoor pursuit shops that hold the majority of the market, with 60% by value.
Sports clubs/leisure centres, mail order/e-commerce and department stores/catalogues take a further 10% each, with other outlets such as supermarkets and clothing/footwear specialists making up the remaining 10%.
“One way in which retailers can boost sales of sporting equipment is to give performance goods a higher profile than in the past, particularly as the sports wear fashion trend fades away and margins become thinner on the fashion ranges,” adds Simon Taylor. “Some leading retailers are already starting to move back towards the more active sports market. However, ultimately, strong growth can only come if consumers start to get bored with working out to keep fit and turn back to joining sports clubs and teams and taking part in sport where equipment is required. There may already be some signs of optimism, particularly in team sports as a result of England winning the Rugby World Cup and good performances from the football team.”
The Sports Equipment Market Report is available to purchase from Key Note on 020 8481 8750, priced, £380. Included within the 92 page document are estimates of  market size and profiles of the leading companies and brands.
Key Note www.keynote.co.uk

       

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