Economic Woes Impacting Action Sports Industry, Retailer Show
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Some Feel Action Sports Will Survive As Teens Are
Target Market, Tend To Buy What They Want |
The "tough economic times were apparent" Thursday at the Action Sports Retailer (ASR) trade show, as attendance was "about half of a typical January show," according to Jennifer Davies in a front-page piece for the SAN DIEGO UNION-TRIBUNE. Attendees indicated that "mainstay exhibitors such as Quiksilver and Hurley skipped the event to save money." Andy Tompkins, the Exec Dir of the event which runs through Saturday, said that while "most of the other big-name brands," such as Volcom, Billabong and Vans, are attending the show, they "dramatically trimmed their booth space and brought fewer staffers." Podium Distribution Domestic Sales Manager Shawn Shumacher: "I've been in the business for 20 years, first on the retail side and now doing this, and it's about the worst I've ever seen it." Davies reports already "struggling with a glut of inventory, the $14.4[B] industry is forecasting sales to fall as much as" 25% this year. Sources said that "some brands will disappear and the economic undertow will pull down a number of mom-and-pop shops." Sources "predicted that as many as 30[%] of all action sports retailers could go out of business" in '09. Many brands are "scaling back on the types and quantities of products they make." Reef VP/Marketing Kevin Flanagan said that some companies, including his, are "giving stores price breaks to help them bolster their margins." But Davies notes it was "not all doom and gloom at the trade show." Some sources said that the action sports industry is "positioned to come out of the economic tailspin, both because of its target market -- teens who tend to spend money on what they want -- and because of the fierce passion of those who participate in action sports such as surfing, skateboarding and snowboarding" (SAN DIEGO UNION-TRIBUNE, 1/23).
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