According to new figures from Sportindex, sports retail sales online increased by 7.3 percent during the first quarter of the year, compared to the same period last year. E-commerce thus reversed previous declines and grew at a faster rate than sales in physical stores, which recorded an increase of 6.4 percent during the period.
Overall, this resulted in growth for sports retail as a whole of 6.5 percent. January was the month with the highest growth, 13 percent, followed by 3.4 percent in both February and March.
The sports retail sector is showing a clear recovery during the first quarter of the year. This is a sign of strength, although the outlook ahead continues to be affected by factors such as weather, economic conditions and household purchasing power, says Jonas Linder, CEO of Svenskt Sportforum.
Winter Equipment Drove Sales
The increased sales are primarily explained by the demand for winter-related products. The equipment segment grew by 14.6 percent, with categories such as alpine and cross-country skiing accounting for a large part of the volume. Clothing sales increased by 7.5 percent, while the footwear segment decreased by 3.1 percent, partly due to lower demand for football and running shoes.
Several players in the industry point to weather conditions as a primary reason for consumers' shift in purchasing behavior.
When winter came to large parts of the country, we saw a clear increase in demand for everything related to snow and cold – not least winter sports and jackets, says Daniel Löfkvist, COO and Vice President at Stadium Group.
A similar development is also noted at SGN Sport. CEO Lars Palmgren states that consumers have largely switched from buying shoes to equipment during the quarter, and attributes the result to a combination of the climate and economic conditions:
A clear sign of strength that we attribute to both the impact of the weather and the fact that there is beginning to be more room in households' wallets for consumption, says Lars Palmgren.