Unit gross sales of tennis racquets in specialty tennis shops dropped by 7% within the first quarter of 2023, in comparison with the identical interval a 12 months in the past, experiences Sports activities Advertising Surveys USA. Regardless of this, the market stays sturdy in comparison with the pre-pandemic interval.
In reality, whole first-quarter development in comparison with 2019 stands at 18%. January and February gross sales have been notably sturdy this 12 months in comparison with the pre-pandemic 12 months, essential indicators for making a year-round marketplace for tennis items.
This has been achieved regardless of inflationary stress.
Simply over a 3rd of all unit gross sales at specialty shops have been for racquets between $200 to $249.99, with over 10% of racquets promoting for over $250 between January and March 2023, experiences SMS.
This displays market dynamics at the moment of 12 months – when consumers are usually core tennis gamers together with these enjoying by the winter reasonably than buying racquets as vacation presents or for summer time participation. But it surely additionally reveals trade success in elevating racquet costs in keeping with inflation with out pricing out shoppers. In 2019, earlier than the pandemic, solely 35% of racquets bought in Q1 have been bought at $200 or greater. 4 years later, that share has practically reached 50% of the market.
The brand new inflow of tennis gamers additionally seems to have stimulated competitors available in the market. Earlier than the pandemic, 90% of specialty retailer racquet gross sales have been of the three largest manufacturers available in the market however as of Q1 2023, that determine stands at underneath 80%.
Sports activities Advertising Surveys USA’s Adam Hile, mentioned: “Whereas there’ll understandably be some disappointment that tennis racquet gross sales have dipped in comparison with 2022, this isn’t sudden. The important thing indicator for the market was all the time going to be how lots of the surging participant inhabitants stay engaged in tennis, and gross sales above and past the pandemic are a great signal that that is holding up properly. It’s additionally pure that lots of those that have come into the game haven’t but reached the purpose of changing their first racquet, so there was all the time more likely to be some drop off in general unit gross sales. Rising common costs in Q1 recommend that loads of those that are shopping for are actually purchasing in the direction of the highest finish of the market, having maybe constructed up their expertise and play frequency during the last two years. There are such a lot of nice tennis racquets available on the market, and that’s mirrored within the urge for food for racquets manufactured by numerous manufacturers.”
The figures come from the TIA Specialty Retailer Retail Audit, powered by Sports activities Advertising Surveys USA, which tracks gross sales of tennis items by specialty shops throughout America on a month-to-month foundation.
