Is the Sporting Goods Industry in Recession?

Sports mean big business. With the fall of the Iron Curtain, increasing globalization and sporting interaction between nations, the global sports industry has been boosted into a new realm. More and more global sporting events have been taking place all over the world. Revenues in sports are generated from multiple platforms. Media advertising, promotion, telecast rights, endorsements and other means attribute to the enormous sums of money that competitive sports attracts. Sporting goods companies like Adidas, Puma, Nike and other brands are multibillion dollar companies. Sports like soccer, basketball, football, boxing, golf, baseball, tennis and cricket are some of the sports that are sponsored by these leading brands in sporting goods. These worldwide recognizable brands have built their empires on the global addiction to sports and competition.

The US sports industry generates about $414 billion in revenues annually. Many supplementary industries are also dependent on sports to distribute and market their products. The Food and beverages industry has benefited from sports in many ways. Sports and health are very closely related. Marketers use sports celebrities or events to market their food and beverages as health foods. Certain sodas are marketed as energy drinks (Mountain Dew) and other malted drinks (Horlicks, etc.) are also marketed with the health conscious in mind. Other foods that are marketed as health foods include protein drinks, cereals etc. Sporting goods brands have diversified their business to apparel and walking shoes and lifestyle products.

Sporting goods are a large industry that is growing. As China and other Asian neighbors become formidable sporting nations, the demand for sportswear, gear and accessories will see a sharp spike in the near future. China’s successful performance in the Beijing Olympics saw more and more youngsters being drawn to take up sports as a career. The forthcoming Olympic Games in 2012 will also definitely attract new viewers and new adherents to various events and sports. Emerging nations are also showing interest in non-traditional games like never before. This will also ensure rising demand for sporting goods, apparel, accessories and equipment in the large markets of Asia and other developing nations.

Sporting goods and vehicles in specialist activities like mountain climbing, skydiving, hot air ballooning, motor sports, water sports and winter sports require very high quality, tested equipment and vehicles. The athlete or driver’s life and safety depend on the equipment. Only the highest quality brands would ensure optimum performance and safety of such sporting goods. Lacey Township residents can find the gear they need from local stores stocking the best brands.