Global Sporting Goods & Hobbies Stores Industry
The global sporting goods store industry has witnessed changes over the past 20-year period, reports IBIS World. Leading industry players have grown into national chains, with large-scale operations seeing increased buying power. Following the rising number of national sporting chains, mass merchandisers and department stores have entered the market. Sporting goods retailers have continued to remain competitive despite the growing number of rivals for market share due to the specialized services and leading brands they make available to customers.
The world hobby store industry is fuelled by consumer spending; though the economic recession dragged down consumer confidence, which had a negative impact on consumer spending, the industry is set to benefit from continued economic recovery. A growing consumer base comprised of women over the age of 35 is also driving market growth.
Companies use merchandising to attract new consumers and encourage store footfalls from both new and existing customers. The larger the operation, the larger the selection of products a company can offer and the better the discounts. Smaller outfits remain competitive through customer service, effectively serving a local market and providing a range of specialized goods. Hobby stores also promote themselves by offering classes and picture framing. Among the types of products sold to the general public through hobby stores are hobby kits, traditional toys, board games, electronic toys such as video and electronic games, and craft supplies, reports IBIS World.