Sport shoe market has declined, claims NPD Group
04/08/2010
This year's report shows that the worldwide sports market has declined for the first time since 2005. It values global sales of sports equipment, apparel and footwear at $282 billion for 2009, which is a 2% decline from 2008.
“The state of the global economy and its subsequent impact on consumers worldwide has had an impact on the sport market, as well,” said Renaud Vaschalde, The NPD Group’s global sports industry analyst. “We found that the market declined 4% in the US and 5% in Japan, which are keys to understanding the global decline.”
While the overall sport market suffered declines, there are pockets of growth; Middle East (+3%), North Africa (+5%), equipment in Europe (+1%), and footwear in Asia (+1%).
Looking at footwear, apparel and equipment products purchased for 'sport use', the report found they performed better in Europe (-1%) and Asia (+1%) than in the US (-4%). Products purchased for ‘sport style’ were down everywhere, -3% in Europe and in the US and -1% in Asia.
“It is really the impact of the trend for ‘sport use’ that shows us why we are seeing less of a decline in Europe and Asia versus the US,” noted Mr Vaschalde.
He said there was evidence that the global sports market will bounce back in 2010 with a forecast of an increase of 1% globally.
“We have just ended the 2010 World Cup and we know that from past tournament years this is a key driver of sales in the football market and in turn that will help to push the overall sport market back into positive territory,” says Mr Vaschalde. “In addition, the US market is expected to stabilise and potentially grow in 2010.”
The study's estimates of the global sports market's size are based on The NPD Group consumer panel tracking data, statistical projections, and the company's own sports industry expertise. The NPD Group measures the athletic footwear and sports apparel markets in 10 countries, representing 70% of the global sports sales. For the remaining 30%, estimates are based on assumptions related to Gross Domestic Product development.
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