Sporting Goods Industry

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Sporting Goods Industry. The sporting goods industry (SGI) is among the largest industries around the world. The industry consists of businesses that specifically deal with the retail of new sporting products such as fitness and exercise equipment. Other items include specialty sports footwear, bicycles and bicycle parts, and camping equipment among other goods (Sports Equipment Industry Profile: United States 2015). The SGI face a variety of challenges and opportunity other industries encounter, and increased changes in trends and preferences in the recent years pose a challenge to the business. This paper aims at determining prospects for the SGI both locally and internationally by identifying major problems and opportunities the industry face. Also, this work identifies the SGI segment with greater development opportunity that interested parties including employees and entrepreneurs can venture into for better returns. The worldwide sporting goods industry is estimated to be worth over $150 billion. The SGI comprises of organizations that manufacture and retail different fitness and exercise products, golfing, fishing, camping, shooting, and winter sports goods (Government of Canada 2013). However, the business has, for the past several years, experienced difficulties that threatened its sustenance and expansion. SGI retails all over the world have recorded slow to moderate growth and reduced sales of athletic footwear, equipment, and apparel. These incidences are due to the variation in consumer tastes and need to purchase such commodities (Government of Canada 2013). Additionally, the business’s decelerate can be attributed to a noticeable drop in sports

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