Sporting goods sales in Sweden declined by 5.2 percent during the period from January to March compared to the same period last year, according to Sportindex from the industry organization Svenskt Sportforum. All months showed a decrease in growth. In January, sales decreased by 6.1 percent, by 6.5 percent in February, and by 3.4 percent in March. This marks the ninth consecutive quarter of declining sales. “Despite a favorable winter weather-wise, the situation continued to be challenging for sports retailers,” commented the industry organization.
Physical retail outperformed e-commerce. In-store sales decreased by 3.2 percent, while online sales plummeted by 14 percent. Changes in consumer behavior following the pandemic and a challenging economic situation for households are behind the decline in sports retail growth, according to Svenskt Sportforum. Despite the grim situation, the organization sees bright spots in 2024 as the Swedish economy is expected to turn around, and household purchasing power strengthens.
“It has been a tough period where we have really noticed a change in consumer shopping behavior and that there is less money left for consumption,” said Daniel Löfkvist, Chief Operating Officer at Stadium Group in a statement. “A long and rather drawn-out winter that started early meant that the shopping behavior that usually characterizes the first quarter was somewhat stalled. Now, spring is welcomed, and subsequently, a warmer period with new energy, and hopefully, categories such as running and shoes will come to life.”
