Over the next five years, as total recreation expenditure expands, demand at hiking and outdoor equipment is anticipated to grow. Nonetheless, external competition will remain a challenge as hiking and outdoor equipment becomes increasingly pervasive in other stores, a trend of the past five years. During that time, major companies like REI and Pategonia responded to rising competition by capitalizing on staff expertise and in-house manufacturing capabilities to attract consumers. For example, these companies focus more on in-store events like classes, book signings and movie screenings to bring consumers in to explore their products. Stores have also harnessed new technologies like social media and mobile applications to entice shoppers and built consumer loyalty through rewards programs.
Retailers in this industry primarily sell hiking and outdoor sports equipment, with a specific focus on camping and hiking supplies. Specialty sports stores, like golf, paddle sport or ski shops, general sports stores and online-only retailers are excluded from the industry.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.
