Outdoor Industry Association (OIA), a member-led collective and catalyst for outdoor industry change, released its 2024 Outdoor Brand Benchmarking report. This document presents detailed analysis of the financial and operating characteristics of outdoor manufacturers for FY 2023.
Results indicated that the typical firm generated sales of $9,786,731, and pre-tax profits of 11.9 percent. Sales for the typical high-profit firm were $6,768,674 with a profit of 18.5 percent.
Key business fundamentals of the report included:
- Financial performance, with key financial ratios and detailed indicators across profit/loss and balance sheet statements such as revenue growth, profit margins and inventory turnover.
- Business operations, including benchmarks focusing on metrics such as SKU count, sales channel mix, marketing mix and ROI, sourcing mix, number of employees and sales per employee.
- Actionable best practices, with tailored strategies covering revenue and gross margin optimization, asset management and payroll control.
- Targeted insights, with groupings by company size and product line to help pinpoint opportunity within specific industry segments, compared to top performers.
“As the outdoor market continues to evolve at a rapid rate, it’s essential to know where your business stands versus the competition,” said Kent Ebersole, president of OIA. “The 2024 Outdoor Brand Benchmarking Report provides decision-makers access to data across all major business functions so that they can be equipped with the strategic intelligence needed to drive growth, efficiency, and profitability. It’s with this level of deep market understanding that industry-leading brands are created, and OIA is here to help our members get there.”
Benchmarking data was anonymously compiled from 46 outdoor industry brands across a range of company sizes and product categories.
The full report is now available to study participants and OIA leadership members, including manufacturer, supplier, distributor, retailer and sales rep categories. OIA support and support+ members have access to the eight-page executive summary. OIA has also released key insight to the public to foster overall industry growth. To access the key insight and to learn more about OIA membership, please visit here.
