McKinsey - Sporting Goods 2023

The World Federation of Sporting Goods Industry (WFSGI) and McKinsey & Company have released their third annual Sporting Goods Industry Report, titled "Sporting Goods 2023 - The need for resilience in a world in disarray." The report drills into the dynamics driving performance in the sporting goods industry, focusing on key trends that have impacted the industry in the past year and will shape performance in 2023 and beyond. It includes deep dives into the US and China, the largest global markets, and explores how the industry can boost its resilience to the current challenges such as the threat of global recession, war in Europe, continued supply chain challenges, and rapidly rising interest rates. The report also highlights the importance of branding, how companies are responding to the sustainability imperative, and provides new insights into the nearshoring trend. The report concludes that while the sporting goods industry has had solid growth in the past two years, there are clouds on the horizon and companies will need to embed resilience into their operations to navigate the challenges ahead.