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WWW.IBISWORLD.COM Sporting Goods Wholesaling in the
US October 2019 1
IBISWorld Industry Report 42391
Sporting Goods
Wholesaling in the US
October 2019 Rohan Jaura
In the game: Demand is expected to persist
from specialty sporting goods stores
2 About this Industry
2 Industry Definition
2 Main Activities
2 Similar Industries
3 Additional Resources
4 Industry at a Glance
5 Industry Performance
5 Executive Summary
5 Key External Drivers
7 Current Performance

9 Industry Outlook
11 Industry Life Cycle
13 Products and Markets
13 Supply Chain
13 Products and Services
15 Demand Determinants
15 Major Markets
16 International Trade
18 Business Locations
20 Competitive Landscape
20 Market Share Concentration
20 Key Success Factors
20 Cost Structure Benchmarks
22 Basis of Competition
23 Barriers to Entry
24 Industry Globalization
25 Major Companies
25 Pool Corporation
26 Quality Bicycle Products Inc.
26 Lipsey’s LLC

26 Maurice Sporting Goods Inc.
28 Operating Conditions
28 Capital Intensity
29 Technology and Systems
29 Revenue Volatility
30 Regulation and Policy
31 Industry Assistance
32 Key Statistics
32 Industry Data
32 Annual Change
32 Key Ratios
33 Industry Financial Ratios
34 Jargon & Glossary
www.ibisworld.com | 1-800-330-3772 | [email protected]
This report was provided to
Columbia Southern University (2134268182)
by IBISWorld on 07 November 2019 in accordance with their
license agreement with IBISWorld
US October 2019 2

Operators in the Sporting Goods
Wholesaling industry wholesale a range
of sporting and recreational goods and
accessories, such as billiards equipment,
sporting firearms and ammunition,
marine craft and equipment and pool
supplies. This industry does not include
the wholesale of athletic apparel and
footwear, automobiles, other motor
vehicles or transportation equipment.
The primary activities of this industry are
Baseball, bowling, football, golf, hockey and tennis equipment
wholesaling
Bicycle (except motorized) and go-cart wholesaling
Camping and fishing equipment wholesaling
Fitness equipment wholesaling
Guns, firearms, ammunition and hunting equipment wholesaling
Athletic uniform wholesaling
Boat, boating and marine equipment wholesaling
Skiing equipment wholesaling
Swimming pools, hot tubs and supplies wholesaling
Playground equipment and supplies wholesaling
33992a Athletic & Sporting Goods Manufacturing in the US

This industry manufactures sporting and athletic goods in the
United States.
33992b Gym & Exercise Equipment Manufacturing in the US
This industry manufactures gym and exercise equipment in the
United States.
42392 Toy & Craft Supplies Wholesaling in the US
This industry primarily wholesales hobby goods.
42432 Men’s & Boys’ Apparel Wholesaling in the US
This industry includes operators involved in the wholesale of
men’s and boy’s sporting apparel.
42433 Women’s & Children’s Apparel Wholesaling in the US
This industry wholesales sporting apparel for women and
infants.
Industry Definition
Main Activities
Similar Industries
About this Industry
The major products and services in this industry are
Athletic equipment
Bicycles
Billiards
Camping and fishing equipment

Hunting equipment and firearms
Marine pleasure craft, equipment and accessories
Skiing and snowboarding equipment
Pools and other
Provided to: Columbia Southern University (2134268182) | 07
November 2019
US October 2019 3
About this Industry
42434 Footwear Wholesaling in the US
This industry wholesales sporting footwear.
45111 Sporting Goods Stores in the US
This industry includes operators that retail sporting goods.
Similar Industries
continued
For additional information on this industry
www.nasgw.org
National Association of Sporting Goods Wholesalers
www.nsga.org
National Sporting Goods Association
www.sfia.org

Sports & Fitness Industry Association
www.census.gov
US Census Bureau
Additional Resources
IBISWorld writes over 1000 US
industry reports, which are updated
up to four times a year. To see all
reports, go to www.ibisworld.com
November 2019
US October 2019 4
%
0.22
0.18
0.19
0.20
0.21
2612 14 16 18 20 22 24Year
Participation in sports

SOURCE: WWW.IBISWORLD.COM
%
c
ha
ng
e
15
-10
-5
0
5
10
2511 13 15 17 19 21 23Year
Revenue Employment
Revenue vs. employment growth
Products and services segmentation (2019)
25.4%
Hunting equipment
and firearms
5.6%

Marine pleasure craft,
equipment and accessories
24.7%
Athletic equipment
1.8%
Skiing and
snowboarding
equipment
1.4%
Billiards
19.4%
Pools and other
15.0%
Bicycles
6.7%
Camping and fishing equipment
Key Statistics
Snapshot
Industry at a Glance
Sporting Goods Wholesaling in 2019
Industry Structure Life Cycle Stage Mature
Revenue Volatility Medium
Capital Intensity Low

Industry Assistance Low
Concentration Level Low
Regulation Level Light
Technology Change Medium
Barriers to Entry Medium
Industry Globalization Low
Competition Level High
Revenue
$39.1bn
Profit
$1.9bn
Wages
$4.1bn
Businesses
20,965
Annual Growth 19–24
0.9%
Annual Growth 14–19
-0.1%
Key External Drivers

Percentage of services
conducted online
Per capita disposable
income
Demand from sporting
goods stores
Market Share
Pool Corporation
8.0%
p. 25
p. 5
FOR ADDITIONAL STATISTICS AND TIME SERIES SEE
THE APPENDIX ON PAGE 32
November 2019
US October 2019 5
Key External Drivers Participation in sports
As the rate of sports participation
increases, so does demand for sporting
and other recreational goods. Factors
increasing participation in sports include
the popularity of organized team sports
and athletic department funding in
schools. Growth for these programs

increases the rate of sports participation,
positively affecting demand for sporting
goods and increasing demand for
sporting goods wholesalers’ services.
Professional sporting events also fuel
sports participation by exciting and
inspiring youth audiences. Participation
in sports is expected to increase in 2019.
Percentage of services conducted online
Growth in the percentage of services
conducted online negatively affects
Sporting Goods Wholesaling industry
revenue. Often, online retailers will ship
goods directly from manufacturers to
consumers, without the use of
wholesalers to supply in-store inventory.
As retailers’ e-commerce platforms
Executive Summary The Sporting Goods Wholesaling industry
has contracted marginally over the five
years to 2019, as large sporting goods
manufacturers have bypassed wholesalers
to sell directly to retailers. Additionally,
many manufacturers have built vast
e-commerce channels, bypassing both
retailers and wholesalers. However,
wholesalers’ strong relationships with
small, specialty retailers have enabled
them to partially mitigate revenue
declines. Overall, industry revenue is
projected to decline at an annualized rate
of 1.4% to $36.6 billion, with a 0.5%
projected increase in 2019.

Specialty goods wholesaled by industry
operators include equipment for niche
sports or products that manufacturers
cannot sell directly to consumers online. As
disposable income, Consumer Confidence
Index and participation in sports have risen
over the past five years, revenue for
specialty sporting goods retailers has risen
as well, becoming a major source of
demand for sporting goods wholesalers
during the period. The increased sale of
high-margin specialty goods resulted in the
industry’s profit expanding. The industry
will become increasingly composed of
nonemployer operators that supply small
sporting goods retailers with specialty
products that are not commonly found in
national sporting goods chains. Hence, the
number of industry enterprises and
number of employees is expected to grow
marginally over the five years to 2019 at an
annualized rate of 1.2%, due to the entrance
of nonemployers.
Over the five years to 2024, demand
for industry services from large, national
retailers is expected to fall as these
retailers continue to buy directly from
manufacturers. However, demand for
industry services will persist from
specialty sporting goods stores and
localized, family-owned retailers. The
number of nonemployers is expected to
increase by 2024, further contributing

toward growth in the industry. These
stores will depend on industry
establishments to source specialty
products, such as niche sports gear. Local
and specialty retailers are expected to be
the primary source of industry demand
during the outlook period. Industry
revenue is expected to marginally
increase over the next five years,
increasing at an annualized rate of 0.6%
to reach $37.7 billion in revenue by 2024.
Industry Performance
Executive Summary | Key External Drivers | Current
Performance
Industry Outlook | Life Cycle Stage
Revenue for specialty sporting goods retailers
has risen, becoming a major source of demand
for sporting goods wholesalers
November 2019
US October 2019 6
Key External Drivers
continued
grow, they will increasingly sell goods
online without the use of a wholesaler.

As a result, the growth of e-commerce
poses a threat to the sporting goods
wholesaling business. The percentage of
services conducted online is expected to
grow in 2019.
Per capita disposable income
As per capita disposable income
increases, consumers are more willing to
invest in or upgrade the sporting goods
and equipment used during their leisure
time. This is particularly important for
higher-priced sports, such as skiing,
scuba diving and golf, which require
higher initial investment compared with
other sports, such as soccer and football.
Per capita disposable income is expected
to increase in 2019, representing a
potential opportunity for the industry.
Demand from sporting goods stores
The Sporting Goods Wholesaling
industry derives a large share of demand
from the Sporting Goods Stores industry
(IBISWorld report 45111). As the
Sporting Goods Stores industry performs
well, it increases demand for wholesalers’
services and lifts industry revenue. While
demand from sporting goods stores is
expected to grow in 2019, the trend of
sporting goods retailers bypassing
wholesalers and sourcing from
manufacturers is expected to pose a
continued threat to the industry.

%
30
5
10
15
20
25
2612 14 16 18 20 22 24Year
Percentage of services conducted online
%
0.22
0.18
0.19
0.20
0.21
2612 14 16 18 20 22 24Year

November 2019
US October 2019 7
Current
Performance
Over the five years to 2019, the Sporting
Goods Wholesaling industry is expected
to contract moderately. However,
national sporting goods retailers are
anticipated to grow, bypassing sporting
goods wholesalers and sourcing directly
from manufacturers. Additionally,
vertically integrated manufacturers that
have developed e-commerce platforms
are selling sporting goods directly to
consumers. As a result, over the five years
to 2019, industry revenue is projected to
decline at an annualized rate of 1.4% to
$36.6 billion, with a projected increase of
0.5% in 2019. However, industry profit,
measured as earnings before interest and
taxes, is expected to rise from 4.0% of
revenue in 2014 to 5.2% in 2019, due to
the sale of high-margin specialty sporting
goods to niche retailers.
%

c
ha
ng
e
15
-10
-5
0
5
10
2511 13 15 17 19 21 23Year
Industry revenue
External factors Various factors have contributed to the
growth of downstream sporting goods
retailers overall. The Sporting Goods Stores
industry (IBISWorld report 45111) has been
positively affected by the increased popularity
of sports participation and rising consumer
spending. Participation in sports is expected
to increase steadily, rising at an annualized
rate of 1.4% over the five years to 2019.
Further, Consumer Confidence Index is
anticipated to grow at an annualized rate of

7.5% during the current period. However, the
majority of growth for sporting goods stores
is concentrated among a few large, national
chains, such as Dick’s Sporting Goods and
Bass Pro Shops. These large operators
provide great convenience due to their large
number of establishments and high product
variety, which stems from numerous supplier
relationships. Their significant purchasing
power also enables many of these national
sporting goods stores to bypass sporting
goods wholesalers and source products
directly from manufacturers. The Sporting
Goods Stores industry is anticipated to grow
an annualized 1.3% over the five years to
2019 as a result of growing in-store and
e-commerce sporting goods sales.
Furthermore, the Gym, Health and
Fitness Clubs industry (IBISWorld report
71394) is anticipated to grow an annualized
3.5% over the five years to 2019. More
gyms, fitness clubs and consumers have
required treadmills, weight machines, stair
climbers and free weights from wholesalers
as the number of gym memberships has
risen and more individuals have
participated in fitness at home or at gyms.
Growth in sporting goods stores and fitness
centers is reflective of greater interest in
recreational sports and exercise
nationwide. Greater interest in sports and
physical activities in general will contribute
to greater demand for athletic equipment
and gear for common sports, but will also
contribute to the growth of niche sports

and activities. Frequently, niche sports,
such as cycling, fencing, archery and
hunting require equipment and gear that is
not commonly found in national sporting
goods stores. In addition, manufacturers of
this niche equipment are more likely to go
through wholesalers to find the most
relevant demographics and neighborhoods
in which to sell merchandise. Therefore, as
the popularity of niche sports rises during
November 2019
US October 2019 8
the current period, demand for sporting
goods wholesalers to service specialty
sporting goods stores will increase
similarly. Revenue from servicing localized,
specialty sporting goods stores will
therefore mitigate the decline in industry
revenue resulting from decreased demand
from large, national sporting goods chains.
The online sale of sporting goods is
also intensifying competition for sporting
goods wholesalers. As more sporting
goods retailers develop online presences,
they will sell products online and ship
directly from manufacturers, removing

the need for wholesalers to replenish
in-store inventory. In some cases,
sporting goods manufacturers will sell
online directly to final customers,
bypassing both wholesalers and retailers.
However, some sporting goods cannot be
purchased online. For example, firearms
require in-store sale for identification
purposes, and the wholesale distribution
network for the supply of firearms is well-
established. In addition, many retailers of
firearms are small, family-owned
enterprises that rely on wholesalers to
give them access to a wider range of
products and negotiate purchase prices
on their behalf. These segments have
thus created a stable source of industry
demand during the current period.
External factors
continued
Dominant trends Generally, the US consumer has become
more health-conscious over recent years. In
particular, the trend of more individuals
participating in Pilates, cycling and
individualized fitness activities has spurred
demand for sporting goods from retailers.
As a result, many downstream markets have
demanded athletic gear and other sporting
equipment from wholesalers to appeal to
various demographics. For example,
hunting equipment, which includes guns,
knives and other accessories, such as vests,
fared well over recent years due to an

increase in the number of female hunters.
Furthermore, as a growing number of
individuals participated in fishing and
hunting, according to the US Fish and
Wildlife Service, more anglers and hunters
required related equipment.
The dominant trend in the Sporting
Goods Stores industry is that of
manufacturers supplying the bulk of
products, while smaller wholesalers supply
a handful of niche products. For example,
Dick’s Sporting Goods, the largest operator
in the Sporting Goods Stores industry,
purchases 19.0% of its stock directly from
Nike (latest data available). The remaining
stock was purchased from 1,200 vendors,
with no other vendor supplying more than
10.0% of the retailer’s total inventory.
Providing a specialized range of products
to large retailers is a viable strategy for
industry operators and attests to the
overall makeup of the industry. In fact,
nonemployer establishments
comprise over 70.0% of total
industry establishments.
The US consumer has
become more health-
conscious over recent years
Industry landscape Over the five years to 2019, the number
of industry enterprises is expected to
increase at an annualized rate of 1.2%
to 20,391 operators. Enterprise figures

have been buoyed by small industry
operators, which have found a way to
enter and remain in the industry by
targeting niche retail chains or
specialty sporting goods stores and
offering a slim product portfolio of
November 2019
US October 2019 9
Industry
Outlook
Operators in the Sporting Goods
Wholesaling industry are expected to
encounter increasing competition from
vertically integrated manufacturers
selling directly to retailers over the five
years to 2024. However, demand will
persist from high-end, niche sporting
goods retailers and from small,
localized sporting goods stores. In
addition, the industry will experience
strong price-based competition from
global manufacturers, which will
inundate the market with low-cost
sporting goods to be sold in large,

national sporting goods retailers. Often,
these global manufacturers have the
ability to sell directly to retailers,
bypassing wholesalers altogether.
Industry profit is expected to stagnate
as strong demand for niche industry
products is counteracted by retailers
bypassing wholesalers and sourcing
directly from manufacturers. Sporting
goods wholesalers will adapt by
specializing in servicing niche
downstream markets.
high-quality goods. Additionally,
though nonemployers comprise most of
industry establishments, they account
for less than 3.0% of industry revenue.
As establishment numbers increase due
to an influx of nonemployers, the net
effect is a slight increase in the
number of industry employees. Over
the five years to 2019, the number of
industry employees is expected to
increase at an annualized rate of 1.1%
to 76,677 workers.
Industry landscape
continued
External factors Participation in sports is expected to
increase steadily during the five-year
period. Similar to the current period,
participation in sports is anticipated to
grow at an annualized rate of 1.4% over
the five years to 2024. Further, per capita

disposable income is anticipated to grow
at an annualized rate of 1.5% during the
outlook period. Thus, as domestic
consumers become increasingly health-
conscious, sports grow in popularity and
consumer spending rises, consumers are
expected to increase their demand for
sporting goods products. The majority of
consumers will purchase sporting goods
equipment from a handful of large,
national sporting goods chains due to
these retailers’ convenience and product
variety. The competitive advantage of
these massive sporting goods retailers
arises from their brand recognition. Most
of these large, national chains bypass
sporting goods wholesalers, and due to
their immense buying power, source
products directly from manufacturers.
The Sporting Goods Stores industry
(IBISWorld report 45111) is anticipated
to grow an annualized 1.2% over the five
years to 2024, due to growth in in-store
and e-commerce sporting goods sales.
However, most of this growth will not
benefit sporting goods wholesalers, as the
largest sporting goods retail stores will
source directly from manufacturers.
Likewise, the Gym, Health and Fitness
Clubs industry (IBISWorld report 71394)
is anticipated to grow an annualized 0.7%
over the five years to 2024. This trend,
along with growth in sporting goods retail
stores, is indicative of greater interest in

sports nationwide. This interest will
persist for common sports and activities
is expected to increase
steadily during the period
November 2019
US October 2019 10
that require general athletic equipment
and gear but will also contribute to the
growth of niche sports and activities.
Often, specialty sports require equipment
and gear not found in national sporting
goods stores. In addition, manufacturer s
of this niche equipment are more likely to
go through a wholesaler to find the correct
vendors for their merchandise. As a result,
as demand for specialty stores rises during
the outlook period, demand from specialty
sporting goods stores for industry services
is expected to increase in like measure.
In addition, the rise of e-commerce
sporting goods sales will result in retailers
bypassing wholesalers and selling directly
on online platforms, where products are

shipped directly from manufacturers. In
some cases, sporting goods manufacturers
will sell directly to final customers,
bypassing both wholesalers and retailers.
Consequently, various forms of
competition, made possible by technology
or the buying power of national sporting
goods chains, will squeeze the financial
opportunities of sporting goods
wholesalers. However, some demand for
sporting goods wholesaled by industry
operators will also persist because of
goods that cannot be purchased online,
such as firearms. Overall, industry
revenue is projected to increase over the
five years to 2024, rising at an annualized
rate of 0.6% to $37.7 billion.
External factors
continued
Changing attitudes Current federal guidelines, as indicated
by the President’s Council on Sports,
Fitness, & Nutrition, propose that adults
should get 150 minutes of moderately
intense aerobic activity each week, such
as walking, for at least 10 minutes at a
time. According to the US National
Health Interview Survey, which has been
conducted on an annual basis since 1997,
more than half of Americans reported
that they got the recommended amount
of leisurely physical activity. This
represents an increase in physical activity
from prior periods, reflecting the
changing attitudes of the US population

toward health and wellness routines and
supporting underlying demand for the
Sporting Goods Wholesaling industry.
Further, it is likely that changing
perceptions and a shift toward a healthier
society will be sustained in younger
generations, supporting industry demand
for years to come. Additionally, states
such as Pennsylvania have passed
regulations that encourage hunting.
These new regulations will begin in early
2020 and are expected to further increase
industry revenue.
More than half of
Americans reported getting
the recommended amount
of leisurely physical activity
Industry structure Industry revenue is expected to
marginally increase during the outlook
period because more nonemploying
enterprises that primarily aim to serve
small, family-owned sporting goods
stores are expected to enter the industry.
As a result, the number of industry
enterprises is projected to rise at an
annualized rate of 1.1% to 21,576
operators. Growth in industry
participation is expected to yield an
increase in industry employment. The
number of industry employees is
projected to rise at an annualized rate of
0.8% to 79,623 workers over the five

years to 2024.
November 2019
US October 2019 11
The industry exhibits a moderate
increase in profitability
The industry is tightly correlated
with the general economy
The industry is susceptible to new
technology and distribution methods
Life Cycle Stage
November 2019
US October 2019 12
Industry Life Cycle Over the 10 years to 2024, industry value
added, which measures an industry’s
contribution to the overall economy, is
expected to increase at an annualized rate

of 1.3% for the Sporting Goods
Wholesaling industry. Comparatively, US
GDP is anticipated to rise at an
annualized rate of 2.1% during the same
period. Typically, an industry with an
IVA lower than the growth rate of the
overall economy reflects that the industry
generates a decreasing share of total
economic output. However, the industry
still receives demand from a reliable
customer base and exhibits a growing
number of industry enterprises and
employment during the 10-year period.
The industry is also highly influenced by
the general economic environment, such
as growth in consumer spending and
disposable income, reflecting its
maturity. To support profit, many
sporting goods wholesalers have invested
in online ordering and other tracking
technologies to lower operational costs
and streamline their distribution
networks. Technological innovation
primarily targets distribution methods,
rather than industry products, another
characteristic of a mature industry.
The trend of retailers buying directly
from manufacturers remains the largest
obstacle to viability for industry
operators. Though there remain small
niches of opportunity for industry
operators, such as specializing in high-
end, niche sporting goods products, this
strategy will continue to be met with

competition from vertically integrated
manufacturers. Nevertheless, the
industry’s shift toward specialization and
cultivating strong relationships with end
users will prevent drastic declines in
industry revenue.
This industry
is Mature
November 2019
US October 2019 13
Products and Services Hunting equipment and firearms
The wholesaling of hunting equipment
and firearms has steadily increased as a
share of revenue for the Sporting Goods
Wholesaling industry over the five years
to 2019, accounting for 25.4% of revenue
in 2019. The wholesaling of hunting
equipment and firearms is a significant
source of industry revenue, as the sale of
firearms is entirely unaffected by the
growth of e-commerce and relies on
wholesaler relationships to service many
small, family-owned dealers. Sales of
high-end hunting equipment are
supporting a fast-growing niche of
high-income sportsmen in the Hunting
and Trapping industry (IBISWorld report
11421). Additionally, much of the growth

in this product segment over the past five
years can be attributed to growth in the
number of female hunters, an increase
which has been sustained by industry
associations’ marketing and outreach
efforts to diversify the sport’s fan base. In
addition to increases in demand for
hunting products, gun ownership has
also grown over the past five years, which
has also contributed to the boom in this
product segment.
Bicycles
Bicycles are expected to account for
15.0% of industry revenue in 2019.
According to IBISWorld estimates, bike
sales are expected to rise negligibly over
the five years to 2019; however, due to
growing popularity of public bikes and
bike-sharing services in urban
transportation, bike accessory sales, such
as sales of helmets, are an increasing
share of total sales in this product
segment. Bicycles are expected to decline
as a portion of industry revenue over the
next five years.
Athletic equipment
Athletic equipment is expected to make
up 24.7% of industry revenue in 2019.
Products & Markets
Supply Chain | Products and Services | Demand Determinants
Major Markets | International Trade | Business Locations

KEY BUYING INDUSTRIES
45111 Sporting Goods Stores in the US
Operators in this industry demand a range of sporting goods,
which are then retailed to
household consumers.
45211 Department Stores in the US
Businesses that operate as department stores often have a store
section dedicated to sporting
goods that are in high demand by consumers.
45291 Warehouse Clubs & Supercenters in the US
Warehouse clubs and superstores are also key buyers of sporting
equipment and accessories
from wholesalers.
71391 Golf Courses & Country Clubs in the US
Golf courses and …

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