Retailing for Sport
Sports retailers have a great position. Just about everyone has a favorite sport, and many people play sports. From little league to the pros, athletes need equipment, clothing, and accessories for the sports they like to play. That’s why an entire culture of retailing has grown up around the sports industry.
There are other ways sports retailers have a leg up. For one thing, sports fans live all over the world. Sports franchises all around the world, and in a variety of sports, are turning a profit.
Another way that sports retailers enjoy being on the fast track is the natural change of seasons. Every sport has its season, and there is a sport for every season. Winter has its ski slopes, spring is great for baseball, summer has football (or soccer, if you’re in the U.S.), and the fall months is when American football is watched by millions on TV. And some of these sports also have their off season (there’s fall baseball and summer football, for instance).
Long story short, and bottom line, is this: If you’re a retailer specializing in sports, you should have no problem getting business if you carry the right merchandise.
How to Make Your Mark As a Sports Retailer
If you’re in the sports retailing business, you can make your store, and chain of stores, more competitive by following these best practices:
- Know your market – Do you cater to the pros, amateur adult leagues, or little leagues? There’s something to be said for specializing in any of these markets, but you can build a solid sports business by catering to all of them, too. The key is to understand your markets, geographically and demographically.
- Carry the right merchandise – Successful sports retailing begins with knowing your market, but it doesn’t end there. You’ve got to carry the right merchandise for that market–year round.
- Be organized – Once you’ve identified your market and have the right merchandise on your shelves, keep it organized.
- Focus on the customer – Don’t just see your customers as a group. Look at the needs of each individual, because sports enthusiasts all have their own unique needs.
Follow these keys to excellent sports retailing and you’ll run a competitive business.