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COVID-19 Industry Impact Report - April Edition

COVID-19 Industry Impact Report - April Edition (2020)

Introduction:

The Sports & Fitness Industry Association (SFIA) surveyed its membership to understand the effects the COVID-19 pandemic is having on the sports and fitness industry. The following insights contained in the report are intended to provide a snapshot of key business questions. We hope that this report assists industry stakeholders in decision making and provides new insights for them to consider. 

 

This is the first edition of SFIA’s COVID-19 Industry Impact survey series. We are committed to continuing to gather insights to help our industry get through this period of uncertainty.

 

This report is free to everyone.  

 
Key Findings:
 
  • COVID-19 elicited a dramatic and immediate drop in sales, with 55% of respondents reporting sales decreases of 51% or greater when compared to April 2019.
  • Of those that applied, 76% of sports and fitness companies received some sort of government related financial relief.
  • Many companies have taken significant responses to COVID-19 losses in the areas of payroll and cash conservation. Bigger companies with more employees were more likely to furlough, layoff, or reduce pay of their staff.
  • In terms of return to play projections, health clubs and boutique fitness studios are anticipated to open in the next one to three months, with team and youth sports to return shortly thereafter.

For more information about SFIA Research, please email Alex Kerman at akerman@sfia.org or call 301.495.6323.


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