The World Federation of Sporting Goods Industry (WFSGI) and McKinsey front to kerb parking sign & Company have teamed up once again to present their annual sporting goods industry report. Its title highlights the need of the hour – “Sporting Goods 2023 – The need for resilience in a world in disarray”.

The third edition of the report looks at the dynamics driving performance in the sporting goods industry, starting with areas in which companies have outperformed and faced challenges in the past twelve months. It also takes a deep dive into the largest global markets, the US and China, and looks at how the industry can boost its resilience to the current storm of rising costs, the looming threat of recession and continuing operational challenges.

“That will mean going beyond raising prices to boost productivity, manage cash more rigorously, and find the right balance between saving and investment,” cautions the report.

Key trends

The report also examines the key trends shaping the industry, including the enduring power of brands to create value, a growing pressure to deliver on sustainability promises, the strategic case for nearshoring and the rising attention of private investors. “Through these lenses, we see an industry that is in excellent health but must work hard to build resilience in the months ahead,” states the report.