COVID-19 Industry Impact Report - June Edition (2020)
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 second 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.
- The industry’s rebound from the effects of COVID-19 is going to take time. 72% of companies believe that they will not return to some semblance of pre-COVID-19 projections until 2021 or later, a 12 percentage point increase from our May edition’s data.
- Month-to-month sales data shows improvement. 28% of respondents in June reported an increase of June 2020 sales when compared to June 2019, doubling May 2020 to May 2019 comparisons. Additionally, 68% of companies saw greater sales in June 2020 than in May 2020.
- The pandemic is changing the face of the sports and fitness industry. 59% predict the consolidation of companies to be the top emerging market trend after the pandemic. 72% of respondents expect Individual Sports and 66% anticipate Outdoor Sports to be the two top product categories to return to health post-COVID-19, reflecting consumers preference toward socially distanced activities.
- Respondents anticipate that the return of youth sports will be postponed. 37% of respondents expect youth sports to return in 2021 or later, a 22 percentage point increase from May report predictions.
- In regard to the re-opening of gyms, health clubs and boutique fitness centers, the importance of vaccine availability increased dramatically. 71% of respondents viewed it as a necessary precaution to be implemented before re-opening gyms, health clubs and boutique fitness centers, a 55 percentage point increase from the May Survey.
For more information about SFIA Research, please email Alex Kerman at firstname.lastname@example.org or call 301.495.6323.
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