According to data compiled by the Norwegian sporting goods industry association, Norsk Sportsbransjeforening, Europe’s highest per capita sporting goods market recorded a 3.6 percent increase in 2021 among its nine top banners to 14,875 million Norwegian kroner (€1.46b) from 14,363 million in 2020. The trade group intends to release a complete analysis of the market for all distribution channels (DTC, pure players, etc.) in the coming weeks.
While Gresvig and its three brands (G-Sport/G-Max, Intersport and Sportshuset) saw their sports retail market share decline for the third consecutive year to 16.8 percent on total sales of NOK 2,494 million ( €245.5 million) compared to NOK 3,011 million in 2020, three other retailers saw year-over-year gains.
Sport 1 recorded a 30.5 percent local currency sales increase to NOK 4,553 million (€446.2m) from NOK 3,779 million in 2020; Stadium annual revenues rose by 11.6 percent last year to NOK 1,721 million (€169.4m) from NOK 1,348 million in 2020; and Coop annual sales jumped 5.9 percent year-over-year to NOK 885 million (€87.1m) from NOK 801 million.
On the downside, XXL, which is in the midst of replacing former CEO Pål Wibe, saw its annual sales slip by 32.1 percent in 2021 to NOK 4,782 million (€470.7m) from NOK 4,877 million in 2020. In mid-July, XXL said it was taking steps to adjust costs and purchasing volumes by significantly reducing orders for upcoming seasons. The retailer is also working on expanding its e-commerce capacity, improving its category strategy and developing better marketing efficiency.
Sport Norge’s annual sales slid to NOK 210 million (€20.7m) from NOK 297 million in 2020. Annual sales at MX-sport were flat at NOK 250 million (€24.6m).
Norwegian retailers would have reported stronger sales figures in 2021 if product shortages in bicycles, sports shoes, some fitness equipment and other products hadn’t occurred due to persistent global supply chain constraints. Through the first nine months of 2021, some 410,000 bikes had been sold throughout the country.
During the third quarter, the country experienced increased consumer demand for active leisure and outdoor products, with more consumers seeking technical equipment for short or long hikes. Running remained strong, and there was new growth in soccer and other team sports as padel tennis surged on opening new dedicated facilities.
