No items found.

SFIA Survey Says Sports Sales Won’t Have Full Return in 2020

Share:

Due to many recent decisions for elementary and secondary schools to not meet in person in the fall of 2020, 72 percent of sporting goods and team sports companies now anticipate that sales will not return to pre-COVID-19 numbers until 2021, and 53 percent report not until the second quarter of 2021, according to the SFIA’s 3rd Edition of its monthly COVID-19 Industry Impact Report.

On a slightly better note, the number of companies projecting their 2020 fiscal year sales to be greater than 2019 has doubled from May to June, from 10 percent to 21 percent.
Among the other findings of the SFIA report:

  • June provided the industry with some hope as 68 percent of companies saw month-over-month sales increases from May to June with 38 percent of companies increasing 26 percent or more in sales.
  • E-commerce has remained steady, but it is not absorbing all potential sales. While more than half of e-commerce sales have gone up from May to June and growth is expected to continue, e-commerce will not be able to compensate for all the loss.
  • Nearly 59 percent of respondents believe consolidation will be the emerging market trend post-pandemic.
  • A vaccine is now considered “absolutely essential” for 41 percent of respondents when questioning return to play protocol.

“We are happy to see sales going up, but the pandemic is far from over,” says Tom Cove, CEO and president of the SFIA. “Many individuals and families have adapted to new activities and sought out fitness equipment and outlets that let them participate under stay-at-home orders. However, until we can get kids back in schools and back on the field, our industry will have to be innovative in its approach to helping Americans stay active and healthy on a regular basis. The pandemic will make everyone be more creative, and we anticipate seeing new innovations that will stem from this situation.”

For the full report: https://www.sfia.org/reports/877_COVID-19-Industry-Impact-Report---June-Edition