Skiing and snowboarding are sports that require a great deal of skill and physical fitness. The equipment needed to partake in these activities is costly, and the demand for them is continuously rising. This trend is predicted to continue, but the potential introduction of new technologies may lead to more affordable and accessible winter entertainment. Companies in this industry must keep up with changing consumer interests and new technologies in order to stay competitive. Below are the top seven most important trends that will be impacting the ski and snowboard industries by 2023.
Technologies enhancing affordability of equipment.
Technology has rapidly become a major force for growth in the sporting goods industry as consumers become more demanding and expect more from their recreational activities. The ski and snowboard industry is a notable example, having quickly embraced useful technologies such as GPS, GoPro cameras, and smartphones. Despite the challenges of implementing new innovations, the industry should continue to innovate in order to meet consumer demand. The ski and snowboard industry must reduce the cost of their products in order to remain relevant and competitive; Burton and Rossignol are two examples of cheaper brands that could take away customers if manufacturers are unable to keep prices low.
Requirements for skill level have changed.
The industry of skiing and snowboarding is seeing an increased desire from participants to take part at a higher skill level, resulting in a rapid drop in beginner participation and an expected continuation of this trend through 2020. This presents an opportunity for the industry to draw in new consumers and expand the overall market, although it also means that the average age of skiers and boarders will go up.
Products that are eco-friendly.
The ski and snowboard industry is responding to increasing consumer awareness of environmental issues by introducing eco-friendly products with less toxic chemicals and recycled materials. As new technologies arise, this market will continue to innovate to meet consumer demands for more sustainable products.
Reinvention and diversification.
The ski and snowboarding industry is experiencing a high level of diversification, with hundreds of companies offering various types of equipment, apparel, electronics, and real estate. Well-known companies such as Salomon, Rossignol, Atomic, Volkl, Burton, and Jackson have ownership or operations in this industry. While diversification has positive effects, there are costs associated, such as time and resources to develop and launch new products, as well as difficulty maintaining supplier relationships.
Social media and online marketing.
Online marketing is having a major impact on the ski and snowboarding industry, as more consumers are using the internet to search for products. To meet this demand, retailers need to provide accurate product descriptions, images, and reviews on their websites in order to compete. Social networks allow ski and snowboarding communities to communicate directly with each other and manufacturers, creating brand loyalty and providing an alternative for online retailers to advertise their products without costly campaigns.
Consumers are increasingly looking for more personalization when buying products, prompting manufacturers to create customizable options such as custom binding systems and branded boots. This allows skiing and snowboarding enthusiasts to customize their equipment with different methods, from designing their own boots to modifying existing ones. In order to keep up with the evolving needs of modern customers, manufacturers must continue creating cutting-edge products.
Snowboarders & skiers are more active.
The amount of people participating in skiing and snowboarding is increasing, leading to a need for exercise to stay active. As a result, resorts are offering more activities, such as group fitness classes like yoga and spinning, and indoor gyms are becoming popular, providing a safe space to work out without the cost of equipment or lessons. The ski and snowboard manufacturing industry will be better equipped to handle the challenges of the next century by taking advantage of new technology and emphasizing innovation.