SGMA shows fitness growth in 2005, more to come in 2006

In its annual State of the Industry report, the SGMA reported that fitness equipment experienced an increase in sales of 6 percent, reaching $4 billion wholesale for 2005. In addition, 80 percent of sales were for the home market. Those numbers are part of the overall $55.7 billion value of the sporting goods segment, up from $52.5 billion in 2004.
Author:
Updated:
Original:

In its annual State of the Industry report, the SGMA reported that fitness equipment experienced an increase in sales of 6 percent, reaching $4 billion wholesale for 2005. In addition, 80 percent of sales were for the home market. Those numbers are part of the overall $55.7 billion value of the sporting goods segment, up from $52.5 billion in 2004.

The growth seen in 2005 in the fitness segment was indicative overall of 6.8 percent overall increase in the sporting goods market — the best in a decade, reported SGMA President Tom Cove. In fact, the SGMA is predicting the momentum will continue in 2006 and is estimating growth between 6 percent and 7 percent, with fitness and tennis being two areas that will lead the way. The forecast is for the market value to reach $59.5 billion in wholesale dollars in 2006.

"Our sector has performed admirably," said Cove at a luncheon meeting at The Super Show in late January where the numbers were reported. "There is no reason to think it won't in the future."

Fitness is in fact one of a few bright spots, the SGMA said, since participation in other areas of sports and outdoor activities have remained stable, while fitness and exercise participation is growing. Cove said there are several reasons, including the obesity epidemic, the aging of Baby Boomers, and the increasing importance of home fitness and a personal fitness space to the population.

These trends "are selling products," Cove said. "People are investing in things that are important to their space."  

In specific categories, cardiovascular is still leading, and treadmills continue to dominate that arena. But sales of strength-training equipment are also growing.

"We see this as a unique moment in time when it comes to fitness," Cove said. "Fitness is not a luxury anymore. There is a tremendous opportunity for growth.

"If you can speak to that need, there'll be a place for you," he added, speaking directly to the suppliers, manufacturers and retailers in the room.

Fitness was named as the catalyst for all the growth in the industry, even in other areas since you have to be fit or get fit to participate in other activities, Cove said.

"Fitness is the answer," he said, "and it's where entertainment mixes with activity. We think the positive impact on other sporting goods sectors is serious."

Related

SGMA's annual fitness survey shows sales still growing, women still dominate

Despite the doom and gloom of the current shopping season for fitness, sales of home exercise equipment jumped again in 2006, reaching $3.54 billion in wholesale dollars or up about 5 percent over the previous year. The numbers are part of the latest annual fitness market ...read more

Home fitness sales stalled, growth sluggish in today's economy, per SGMA industry report

Not necessarily revealing anything new to those in the trenches, the Sporting Goods Manufacturers Association in an annual "State of the Industry" report noted that home fitness equipment sales were flat for the first time in years although the long-term outlook is still good. ...read more

Frequent exercisers up 7 percent in 2003, SGMA study shows

Despite the rise in obesity and the national scare about its cost to society, other recent statistics show that the number of so-called "frequent exercisers" is up 7 percent. Why is that figure key for the fitness, recreation and sporting goods industries? Because those ...read more

SGMA Sports+Technology Convergence 2006: Technology is not the enemy

A host of speakers, keynotes and panelists converged, so to speak, at the first Sports+Technology Convergence by the SGMA in late October with the message -- underlying or blatant -- being technology savvy can work with and for the sporting goods community in many ways. "We are ...read more

SGMAlogo.jpg

Did you hear?... Fitness retail takes 'hit' in 2008, still triple club sales, per SGMA report

Nobody needs to be told the economy made a huge dent at retail overall since 2008, and sales of fitness equipment suffered particularly. According to the annual "Tracking the Fitness Movement" report by the Sporting Goods Manufacturers Association, shipments were off 10 percent ...read more

Fitness still showing "hot" 2003 growth in U.S.

Partly because of the growing national interest in health problems and obesity, more attention is being given to exercise. That is one reason that continues to fuel the category's continued ranking toward the top of sporting goods areas that are "hot," according to the Sporting ...read more

Kids_retail_thumb_041511.jpg

Sizing Up the Kids Market: Growth, Growth and More Growth

When it comes to snowsports, kids continue to rule at the register. That’s the findings from the Snow Sports Industry Association (SIA), and the sentiment from retailers, manufacturers and resorts--all of whom are encouraged by what this bodes for the industry’s future. “Kids are ...read more

SGMA's future show strategy ousts The Super Show

In a not-truly-surprising announcement, the SGMA has said this month's 21st Super Show – an event on which the association had hung its hat for years but one that recently had lost its shine – will be its last. At the same time, the group revealed a post-Super Show plan ...read more

Outdoor financials: NRF cautious about 2005 retail sales, plus Hi-Tec, Sportsman's Guide, L.L. Bean

NRF cautious about 2005 retail salesAt its recent conference and expo, the National Retail Federation (NRF) released a guarded forecast for 2005, predicting that GAFS sales will only increase 3.5 percent from last year. For starters, strong comparisons will make this year more ...read more