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Sporting Goods Industry + Market Intelligence

Preparing for an Era of Growth: The Sporting Goods Industry in the Post-COVID Era

The sporting goods industry has witnessed tumultuous times recently. While experts forecasted unencumbered growth and success in the industry over the last three years, the COVID-19 pandemic inhibited scaling of any kind. The pandemic brought about major economic and social changes globally and reduced sports and physical activities substantially. While the world is waiting for a potential end to the pandemic, retailers, and manufacturers in the sporting goods industry need to identify and capitalize on significant growth drivers.

A growing market, such as the sporting goods industry, witnesses a range of trends, challenges, and growth drivers continually. These trends include changing attitudes towards fitness and sports, increased encouragement to pursue sports professionally, and a rising focus on health and wellness. However, sporting goods industry players must identify significant growth drivers, strategize for them, and scale their business and the industry in the post-COVID era.

Recovering from the pandemic will be highly challenging, but identifying and capitalizing on significant growth drivers can be relatively effortless with proper guidance. Infiniti’s market intelligence experts are equipped to assist sporting goods industry players in evaluating, strategizing for, and successfully taking advantage of profitable market opportunities and growth drivers. In this article, Infiniti’s experts discuss the impact of COVID-19 on the sporting goods industry, important growth drivers in the market, and the role of market intelligence solutions in becoming an industry leader.

Unsure of the impact upcoming trends and growth drivers will have on your industry? Request a free proposal to gain comprehensive insights into your market and stay ahead of the curve.

The Impact of COVID-19

Nation-wide lockdowns, the fear of infection, economic challenges, and the need for social distancing are factors that reduced sporting activities across the world. Due to the shutting down of industries, new work from home arrangements, and the pandemic’s significant economic impact, consumers’ disposable income reduced substantially. Additionally, the need to store essentials, prepare for medical emergencies, and ensure safety and hygiene within homes led to a dramatic shift in consumers’ spending behaviors, particularly concerning non-essentials.

Further, in the aftermath of the pandemic, retailers and manufacturers in the sporting goods industry faced challenges, including factory shutdowns, new hygiene protocols, logistical challenges, and the sudden shift of consumers’ preferences and needs. These factors combined have hampered the growth trajectory within the sporting goods industry and had a significantly detrimental impact on their growth. Therefore, industry players must prepare for the post-COVID era and strategize for major industry growth drivers.

Future Growth Drivers

Sporting Goods Industry + Market Intelligence

Industries are complicated and witness significant market developments and changes continually. The sporting goods industry is no exception to this rule and has recently seen jarring changes, as detailed above. However, retailers and manufacturers aim toward growth, scaling, and success by evaluating and adopting improved strategies and gaining a comprehensive understanding of their industry. Infiniti’s market intelligence experts analyzed the industry and identified three crucial market growth drivers that can help industry players recover and advance the industry.

Health and Wellness Awareness

Technological and medical advancements have significantly changed life expectancies, patient expectations, and global quality of life. While the healthcare and pharmaceutical industry innovate and improve patient experiences and the food and beverage industry develop alternative and healthier options, the sporting goods industry also needs to adapt to this change. Consumers have become increasingly particular about their health and wellness and are taking various initiatives to improve their overall wellbeing.

This change has also led to an upsurge in consumers participating in varying sports activities, including basic forms of exercise such as running, fusions of dance and fitness, and adventure sports. Retailers and manufacturers in the sporting goods industry can efficiently capitalize on these changes by understanding consumers’ demands and preferences and meeting their needs with new or improved offerings. Additionally, as consumers demand more fitness and sports products, industry players can leverage Infiniti’s market intelligence solutions to monitor market developments, understand consumers’ demands, stay a step ahead of competitors’ initiatives, and provide unprecedented offerings to their target market.

Keeping pace with changing dynamics in the sporting goods industry is a challenging prospect and requires unparalleled data-driven strategies. Request more information to learn how Infiniti’s market intelligence solutions help companies develop and adopt novel business strategies.

Increasing Disposable Income

Although the COVID-19 pandemic took a severe toll on income, economy, and spending, there has been a steady increase in disposable income available to consumers over recent years. As companies and consumers aim to recover from the pandemic, certain challenges regarding payment can be tackled and overcome, increasing the disposable income available to individuals again. Capitalizing on this increase can help the sporting goods industry grow exponentially.

With rising concerns for health and wellness and the increasing availability of disposable income, sporting goods industry players must strategize and develop unparalleled marketing and promotional strategies. Identifying consumers’ needs, innovating offerings to meet consumer demands, and competitively priced products are crucial for industry players to succeed and overcome the virus’s impact. With an effective marketing strategy, retailers and manufacturers in the sporting goods industry can help consumers be aware of their offerings, and promote sales and propel growth. Leveraging Infiniti’s market intelligence solutions, companies can also analyze competitors’ strategies, identify industry benchmarks, and deliver unique offerings.

Supportive Governments

As the global population increases, there is a simultaneous rise in the prevalence of chronic diseases and healthcare demand. This can be highly challenging for governments and healthcare industry players. Therefore, governments have increased focus on pre-emptive health and wellness initiatives and promote participation in sports and fitness regimes. Additionally, playing a sport has become an increasingly accepted profession—colleges and universities award athletes with partial or complete scholarships, rewarding early and active participation in fitness. Major companies have also increased intra-company sporting activities, including competitions, challenges, and rewards.

The upsurge in support and opportunities to embrace sports and fitness can be a significant growth driver for retailers and manufacturers in the sporting goods industry. Adopting the opportunity to promote sporting goods for young athletes, growing professionals, and potential talent can also increase customer attraction and retention. Infiniti’s market intelligence solutions help companies identify the significant trends in the sporting goods industry and develop comprehensive strategies to capitalize on them.

Why does the sporting goods industry require market intelligence?

The sporting goods industry has witnessed tumultuous times, and Infiniti’s market intelligence solutions provide a path to recovery and success. Developing a comprehensive understanding of the market, strategizing for upcoming trends, challenges, and growth drivers, and providing consumers with unparalleled solutions are the first steps to succeeding in a dynamic market.

Sporting goods industry players must remain alert, aware, and organized to overcome their market’s fast-paced nature. With Infiniti’s market intelligence solutions, industry players can identify ideal market opportunities, understand their consumers, and evaluate factors propelling or restraining growth in the market. Our solutions help retailers and manufacturers overcome rapidly evolving market dynamics, stay ahead of the curve, and champion their industry.

Speak with our industry experts to learn how Infiniti’s market intelligence solutions can help companies succeed in the post-COVID era.

market intelligence

Infiniti’s Market Intelligence Center of Excellence: An Overview of our Industry-leading Engagement Models

For any modern business, an effective market intelligence framework is a ‘must-have’ to unlock their full potential. A successful go-to-market strategy begins with a good foundation of knowledge covering several aspects of the market and key competitors. Infiniti’s market intelligence center of excellence offers a plethora of experience and capabilities in these areas. At Infiniti, we collaborate with our clients as their extended research arm to uncover growth opportunities through simple, effortless, and scalable engagement models.

Positioned at the forefront of market intelligence, Infiniti Research has carved out a niche for itself as the premier provider of market intelligence solutions for leading players across industries. Our unmatched market intelligence solutions, consulting, and comprehensive market assessments are well-known among industry leaders for their ability to solve even the toughest of challenges faced. Our market intelligence center of excellence covers the entire gamut of research and analytics services for your in-house research and corporate strategy team. It includes:

  • Market Research & Consulting
  • Corporate Strategy & Development
  • Sales & Marketing
  • Operations

Market research and corporate strategy

Market research support

Going through market research data is often cumbersome and could prove to be a time-consuming task. We prepare reports for our clients that’s easy to digest and makes finding the answers that they are looking for as painless as possible. Our advanced market research support services include secondary research, questionnaire designing, primary research interviews, statistical data analysis, and dashboard development.

Business research

Business organizations encounter a number of questions prior to starting a new business or expanding their current operations. They find it tough to determine the right business goals for the company. Business research services aid in rendering success to the business in this aspect. Business research services are highly beneficial for businesses in assisting promotional activities, formulating customer retention strategies, and solve other key operational problems of the business. Business research services offered by Infiniti includes market sizing and analysis, sector analysis, competitive assessment, profiling and benchmarking, and industry reports. As a part of our market intelligence center of excellence, we also provide online tracking platform support that focuses on competitor monitoring, real-time market tracker, and other economic indicators and demographics.

 

M&A support

Mergers & acquisitions are among the most complex business transactions. Often, mergers and acquisition plans that look great on paper are fraught with problems that can result in difficulties of merging staff and operations, or even to failure. Infiniti’s M&A support services help identify the potential risks in a new deal so that businesses can make decisions with their eyes open and critical facts at their fingertips. Our M&A support services includes processes such as target identification and screening, strategic due diligence, financial modelling, and joint venture support. These techniques can identify potential issues before a merge or acquisition and enable organizations to grow their business with confidence.

The Infiniti advantage

At Infiniti, we believe in helping our clients develop scalable solutions that deliver sustainable efficiency to their organization. With expertise across 50+ industries and business functions, we have deep expertise in delivering transformational solutions that are designed to fulfill the needs of a more demanding, smarter world. Our market intelligence center of excellence offers:

market intelligenceSimple Low-cost partnership

We provide our clients with flexible, scalable and tailored engagement models to overcome specific business challenges. For more insights on our FTE plans Request a free proposal.

Specialized skillset

Gain fast access to skilled and experienced resources with domain specific knowledge by engaging with our team of experts. Our collaboration with your organization can greatly increase their impact of new or existing strategies, with cost and time zone advantages in your market intelligence center of excellence.

Flexible customer-centric engagement

Our global team of experts is dedicated and equipped to enhance capacity on an “as needed” basis when time and resources are sparse. Our market intelligence center of excellence is based on the foundation of effectively helping our clients and partners meet their goals.

Free project management

Tackling and excelling at business transformation is easier said than done. We ensure that a dedicated project manager is provided for each engagement to oversee and monitor FTEs on quality and deadlines and ensure smooth business transformations.

 Advanced delivery mechanism with 24/7 support

Worried about time zone differences and how it can affect the smooth execution and delivery of an engagement? Our delivery team and relationship/project managers are accessible round the clock to provide support or cater to client queries.

Rich repository of research sources

The joint efforts of our executives are channeled into ensuring perpetual quality of services across all solutions and industries. Engaging with us can give you access to thousands of proprietary and paid industry sources, market experts, procurement professionals to obtain critical information.

 

Market intelligence solutions

An Overview of Infiniti’s Market Intelligence Services Portfolio

Formulating a sound business strategy is central to the success of any organization and market intelligence solutions play a key role in helping businesses achieve this. Successful market intelligence services provide concrete answers to questions about current and potential customers and competitors, and helps a company determine internal goals. Market intelligence solutions involve the use of information derived through the effective collection of data, which is then used to analyze behavior and sentiments to conclude with information pertaining to markets, customers, and competitors.

Positioned at the forefront of market intelligence, Infiniti Research has carved out a niche for itself as the premier provider of market intelligence solutions for leading players across industries. Our unmatched market intelligence solutions, consulting, and in-depth market assessments are well-known among industry leaders for their ability to solve the toughest challenges faced by industry players. Here is an overview of Infiniti’s market intelligence solutions portfolio with detailed insights into how each of these services can help your business expand, diversify, and tackle market competition.

Market opportunity assessment

Market opportunity assessment is a part of Infiniti’s market intelligence solutions portfolio. It helps businesses identify opportunities and risks that they are likely to come across in a particular market. This ensures that companies understand and evaluate the market before building and establishing their business there. Infiniti’s market opportunity assessment can help you review potential barriers to market entry, analyze distribution channels, conduct Porter’s five forces analysis, and assess markets’ readiness for new offerings.

Infiniti’s market opportunity assessment helps a leading European medical imaging firm to enter the APAC market

Business challenge

A renowned European medical imaging firm wanted to gain a better understanding of important metrics such as the current market performance, the potential opportunities, and technologies in the medical imaging market of the APAC region. They also wanted to understand niche market segments to gain better insights into the level of competition.

Solution

Infiniti’s team of experts decided to carry out a blended approach comprising interviews and discussions with leading stakeholders in the medical imaging market. They also crafted a market opportunity dashboard containing relevant pieces of information to deliver valuable insights to the client.

Result

By gaining insights into critical data relating to potential opportunities in the medical imaging market, the client was able to enhance their product offerings in the APAC region. The medical imaging client was also able to quickly identify and benchmark their product portfolios in the APAC region. The engagement assisted the organization to harness the value of their data to find new niche market segments, operate more effectively, and minimize risks.

Market entry research

Infiniti’s market entry research solution has helped several clients to de-risk their market entry decisions and shape their entry strategies in markets around the globe. Experts at Infiniti review micro and macro-economic environments, identify potential barriers to market entry, compare competitor offerings with available alternatives and help clients build robust route-to-market strategies.

Market entry research for a leading life science industry player helps successfully establish their business in international markets

Business challenge

A leading life sciences industry player operating in India wanted to devise an effective strategy to enter various international markets. Although this opened up new opportunities, the client was not able to prioritize and gauge the risk in every new market. Hence, the client approached Infiniti Research to leverage effective market intelligence solutions and overcome the challenges.

Solution

In order to help the life sciences industry client venture into international markets, the experts at Infiniti conducted a detailed market survey to identify potential factors affecting growth in the life sciences industry. The market entry research conducted also included a systematic and comprehensive approach to analyzing the factors that affect the market potential of the business in overseas markets.

Result

The market entry research solution enabled the life sciences company to identify the potential beachhead segment to focus and leverage market entry efforts. They were also able to select the appropriate business model to maximize profitability.

Market scanning and monitoring

Market scanning and monitoring involve continually and actively monitoring the external environment in order to identify customer needs, anticipate competitive actions, and, identify technological changes that will provide new market opportunities or help create new market disruptions. Infiniti’s market scanning & monitoring solutions help businesses keep tabs on target market segments, forecast demand-supply shifts, track emerging market trends, regional market developments, and provide insights on the potential impact of changing factors on business segments.

Identifying lucrative market opportunities for a European automaker

Business challenge

A well-known European automotive company wanted to expand its business operations into the United States. Before making the market expansion, the client wanted to conduct a market opportunity analysis in order to identify opportunities in the market that are most profitable for them to capitalize on.

Solution

With over 15 years of experience in serving various automakers across the globe, experts at Infiniti helped the client to devise an efficient market expansion plan. A market scanning and monitoring solution was provided to the client which helped them identify customer needs, forecast competitive action, and identify the emerging regulations in the US automotive market. The engagement also involved a market trend analysis and a competitive intelligence study that helped the client closely monitor the key trends and competitor strategies in the US automotive industry.

Result

The solution offered helped the client to establish themselves in the US automotive industry within two years of entering the market. Also, they were able to capitalize on new market opportunities and outpace the market competition. Furthermore, the company was able to achieve savings of over $3.6 billion.

Market intelligence services

A Quick Guide to Everything You Need to Know About Market Intelligence Services

As the market is becoming increasingly competitive, it has become imperative for businesses to keep a constant watch on their competitor strategies and other changing trends in the market. Traditionally, this process was termed as market intelligence. However, today the scope of market intelligence has proliferated to include comprehensive analysis and analytics that can help revamp business models and projections to suit current business requirements.

In this blog, market intelligence experts answer some of the frequently asked questions about market intelligence services.

What is market intelligence?

Market intelligence services involve process of using multiple sources of information to gain a broader picture of a company’s existing market including their customer profiles, business challenges, the growth potential for a new product/service launch, and the key competitor strategies. By leveraging market intelligence services, companies can not only understand and meet their customer needs better than their competitors, but it also helps companies determine their internal goals.

While top-level industry information is easily available on the web and other external sources, gathering data relating to business niche and locality can be difficult. This is where the expertise of market intelligence experts at Infiniti comes into play. Request a free brochure to know how our solutions can help your business.

Market intelligence services vs market research: what’s the difference?

Although the market intelligence services and market research are used interchangeably, there is a fundamental difference between the two. While market research solutions describe what is occurring as it occurs so that companies can react tactically, market intelligence services provide situational insights and interpretations so that companies can strategize on their next move. Strategic market intelligence services provide information relevant to a company’s markets, gathered and analyzed specifically for the purpose of accurate and confident decision-making. It is also highly useful in determining strategy in areas including market opportunity, market penetration strategy, and market development. Market research involves research relating to the size, location, and other essential elements of a product market.

What are the most effective ways to gather market intelligence?

Companies across industries are engaging in strategies to effectively outdo one another. Market intelligence services play a crucial role in keeping an enterprise on the top. Without adequate market intelligence, decision makers will be incapable of better decision-making or altering existing business strategies. Here are some of the best ways in which companies can gather market intelligence:

Information from the sales teams

The sales teams interact maximum with the customers. As such, they can give accurate and up-to-date information relating to customer needs and what improvements need to be made to the company’s products or services. This feedback is more realistic and practical than undertaking external research.

The key to success for any type of business lies in the ability of the enterprise to make informed business decisions. This can be achieved with the help of a good market intelligence services provider. Request a free proposal to know how our experts can help you generate better profits.

Feedback from channel partners

In the case of product expansion or the sale of a new product, the best source of market intelligence is to gather feedback from the company’s channel partners.  Channel partners can reveal data relating to which products will sell better in the market, which products can be ready to stock, and which product should the enterprise focus on next. Market intelligence services can help in suggesting improvements in the company’s current marketing strategies.

Competitors’ channel partners

Reliable market intelligence services provide data relating to competitor strategies. Companies can gather this data by interacting with the sales representatives or channel partners of competitors in the industry. Market intelligence services providers like Infiniti Research can help your company become better equipped to make decisions based on data and then implement winning strategies.

Use social media

Social media monitoring can be used to understand what customers think of a product and whether their expectations are being met or not. Brand monitoring on social media platforms will also help companies understand what customers are talking about the company.

Learn how Infiniti’s solutions for market intelligence services can help you drive better business growth.

Competitor analysis

Infiniti’s Market Intelligence Solution Helped a Fashion Retailer Understand the Reason Behind Their Dipping Sales Rate and Meet the Changing Market Demands

Business Challenge

Even though the fashion retail industry has fared well over the past few years, market growth has been volatile at times. Growing consumerism, inventory management, sustainability, millennial buying behavior, and entry of new players have increased challenges for fashion retailers. This has pressurized companies in the fashion retail industry to leverage a market intelligence study to drive change and flourish in the fast-changing and unpredictable industry.

The client, a well-known European fashion retail industry player was facing a decline in their overall sales rate along with a dip in the frequency of shoppers. Hence, they decided to conduct a market intelligence study to understand the dynamism in the European fashion retail industry. With Infiniti’s market intelligence solution, the client wanted to gauge customer behavior and understand the extent to which internal and external, controllable factors were playing a part in their dipping sales rate.

Our solutions help businesses keep tabs on target market segments, forecast demand-supply shifts, track emerging market trends, and provide insights on the potential impact of changing factors on business segments. Request a FREE brochure to learn more about our market intelligence solutions.

Solutions Offered and Value Delivered 

By leveraging Infiniti’s solution, the client gained in-depth insights into the European retail industry. The market intelligence study helped the client uncover the reason behind their dipping sales rate. Based on the recommendations offered by our market intelligence experts, the retail industry client was able to prioritize their efforts on factors that would bring the greatest impact to their business results.

The solutions also empowered the client to adequately allocate resources to meet the changing market requirements. Moreover, our solutions also offered information on the market size, market analysis, competitor analysis, and growth predictions.

In a span of 4 months, the client was able to curtail the losses incurred and enhance their profit margin by 22%.

Make smarter business decisions with Infiniti’s market intelligence solutions. Request for a FREE proposal to know how our market intelligence solution can help.

What is Market Intelligence?

‍Market intelligence is the foundation of any company’s business plan, used for discovering insights about consumers and generating prospective sales. Market intelligence provides detailed insights into competitors, latest market trends, consumer buying patterns, economic shifts, and demographics. Thus, smart business owners leverage intelligence  solutions to create effective marketing strategies.

Why Infiniti’s Market Intelligence Solution?

In today’s competitive market, sustaining market position and achieving business growth has become challenging. The inability of an organization to react to the dynamic market increases business risk. Hence, keeping track of market changes is very crucial to thrive in the marketplace. Infiniti’s solutions offer a comprehensive overview of the current market, including competitor strategies, market challenges, market trends, and much more. Our solutions enable organizations to gain a holistic view of the entire market. This insight further helps businesses to customize their products and services and distinguish their brand from their competitors.

With a market intelligence solution, you can gain an in-depth understanding of the market scenario before making any investment decisions. Get in touch today for a personalized market intelligence solution for your business.

Pharmaceutical packaging

Weekly Round-up: A Storyboard on the Benefits of Market Intelligence Solutions

LONDON: Infiniti Research, a leading market intelligence solutions provider, has announced the release of their FREE downloadable resources on the benefits of market intelligence solutions. These supplements provide comprehensive insights into how our solutions help businesses to track market trends, forecast demand-supply shifts, and analyze market opportunities.

In today’s competitive market, sustaining market position and achieving business growth has become challenging. The inability of an organization to react to the dynamic market increases business risk. Hence, keeping track of the market changes is very crucial to thrive in the marketplace. Infiniti’s solutions offer a comprehensive overview of the current market, including competitor strategies, market challenges, market trends, and much more. Our solutions enable organizations to gain a holistic view of the entire market. This insight further helps businesses to customize their products and services and distinguish their brand from their competitors.

Our solutions help businesses keep tabs on target market segments, forecast demand-supply shifts, track emerging market trends, regional market developments, and provide insights on the potential impact of changing factors on business segments. Request FREE brochure to learn more about our market intelligence solutions.

#1: Market Intelligence Versus Business Intelligence – What’s the Difference? Wondering what is the difference between these two terms? Well, both the services assist organizations in better understanding their business anddifferentiating their offerings from other counterparts in the market.. Although both are sometimes  used interchangeably, it’s important to understand the fundamental differences between the two terms. Our latest supplement explains the key differences between market intelligence and business intelligence solutions.

#2: Market Intelligence Vs Competitive Intelligence – Where to Draw the Line? Competitive intelligence and market intelligence help businesses to advance in the market. Both market intelligence and customer intelligence have different focuses. It’s imperative for a business leader to understand the differences to avoid confusion. Download our FREE supplement to know the key differences between the services and make better strategic decisions.

Leverage Infiniti's solution to evaluate your competitive landscape and analyze and track competitors’ market presence, business models, financial performance, and strategic moves.

Request for a FREE proposal.

#3: Healthcare Market Intelligence – Top Trends and Market Analysis: Recent study shows that healthcare intelligence services help companies to address demographic shifts and attain strategic goals at diverse stages of the product lifecycle, from clinical research and approval to commercialization. Download our FREE supplement to gain an overview of the healthcare market and top trends in the healthcare industry.

Get in touch to know more about our market intelligence solutions

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