The snow sports retail market finished February up 5 percent year-over-year in units sold and up 7 percent in dollars sold to $3.3 billion for all equipment, apparel and accessories, according to the latest figures from SIA and Leisure Trends. Snow sports retailers brought in $218 million more dollars through February this season compared to August to February 2012/2013 despite weather conditions that disrupted snow sports retail markets.
Leaner inventory levels are another key factor at work in the snow sports market this season. Equipment inventories are 21 percent lower through February and apparel inventories are 11 percent leaner.
“Scarcity is healthy for the market. Scarcity results in higher margins and diminishes the need for discounting in the middle of the season putting more money into retailers pockets and increasing open-to-buy budgets,” said Kelly Davis, SIA director of research.
Average retail prices are 1 percent higher in equipment, 6 percent higher in apparel, and 6 percent higher for accessories through February. Margins are up 3 percent in equipment, up 4 percent in apparel, and up 4 percent in accessories. This bodes well for wholesale orders for the 2014/2015 season.
Overall Snow Sports Market Sales through All Channels August through February 28, 2014
Equipment Sales: $782M, up 3 percent in dollars sold and up 2 percent in units sold
Apparel Sales: $1.3B, up 4 percent in dollars sold and down 1 percent in units sold
Accessories Sales: $1.15B, up 14 percent in dollars sold and up 8 percent in units sold
Snow Sports Market by Channel August through February 28, 2014
Specialty: Up 8 percent in units sold and up 8 percent in dollars sold to $1.8B
Chain: Up 4 percent in units sold and up 4 percent in dollars sold to $723M
Internet: Down 1 percent in units sold and up 8 percent in dollars sold to $794M
Regional Specialty Sales
There was growth across all regions through February, with accessories leading the charge. Big sellers in the south included helmets, goggles, handwear and socks; while backcountry accessories led the growth in the West. Northeasterners needed to stay warm with handwear, socks and hand warmers and in the Midwest, snowshoes, handwear and footwear were highest in demand.
Snow sports participants found time to hit the trails in Februrary and as a result, Nordic equipment also had noticeable sales increases in the West (up 38 percent units), Midwest (up 39 percent units) and South (up 95 percent units).
Apparel on the other hand didn’t have the significant increases that the accessories and equipment markets had, finishing the month down 1 percent in units and up 4 percent in dollars. However, some regions saw slight growth, including snowboard apparel in the West (up 6 percent units), alpine apparel in the Northeast (up 5 percent units) and alpine apparel in the South (up 5 percent units).
Notable Trends
Alpine Touring/Randonee equipment continues to enjoy significant increases in sales. Through February AT equipment sales increased 9 percent in dollars sold and 9 percent in units sold. AT boot sales are up 2 percent in units sold and 9 percent in dollars sold, and AT binding sales are up 14 percent in units sold to 22,230 units, and up 11 percent in dollars sold to over $8 million through February.
Sales are up again in alpine/AT hybrid boots defined as alpine DIN boots with a walk/ski mode that can be converted (but many consumers never do convert them) to an AT/Touring sole for backcountry. These boots are categorized separately from boots sold in the AT category; AT boots that are sold with backcountry blocks and are used most often in backcountry terrain are categorized separately from alpine equipment. Sales of alpine/AT boots are up 25 percent in units sold to 82,000 units sold, and up 21 percent in dollars sold to $32M. Alpine/AT boots make up nearly 17 percent of dollars sold and 11 percent of units sold in the alpine boot market so far this season.
Women are getting prepped to hit the trails. Sales of women’s-specific cross country equipment increased 36 percent in units sold and 34 percent in dollars sold to $6 million through February. Overall, sales of cross country equipment were up 17 percent in units and 14 percent in dollars.
More girls are getting snowboard equipment this year. Junior girls snowboarding equipment sales grew 31 percent in units sold and dollars sold through February. Overall, snowboard equipment sales are flat in dollars sold to $217 million.
Backcountry accessories sales including beacons, probes and shovels increased 12 percent in dollars sold and 10 percent in units sold through February. Skins are the biggest seller in the category, up 7 percent in dollars and up 3 percent in units to nearly 23,000 sold through February.
Sales of protective gear including pads, wrist guards, and general impact gear increased 15 percent in units sold and 23 percent in dollars sold to $3.8 million through February.
Action cameras may be the single most popular accessory in the snow sports market right now. Sales of action cameras were up 12 percent in units sold to 103,500 cameras and up 23 percent in dollars sold to $35 million through February.
Alpine insulated parka sales were up 19 percent in dollars sold to $353 million and up 13 percent in units to about 2 million parkas sold between August 1, 2013 and February 28, 2014 in snow sports channels.
Sales of selected apparel accessories including mittens and gloves, baselayer, headwear, neck gaiters, and masks increased 10 percent in units sold and 13 percent in dollars sold to $586 million through February.
Snowshoe sales are up 12 percent in units sold to 98K units and 14 percent in dollars to over $14 million sold through February. Snowshoe inventory levels are down 33 percent with various popular models becoming difficult to find toward the end of the season.
