Hiking and Outdoor Equipment Stores in Australia - Industry Market Research Report

Climbing high: Surging online sales of industry products have hiked up revenue

After going down a slippery slope, hiking and outdoor equipment stores are back on track. Prior to March 2020, hiking store sales had stalled, with consumers losing interest in outdoor activity thanks to time constraints and weak income growth. Yet, all of this changed once the pandemic hit. Temporary bans on international and interstate travel forced consumers to holiday closer to home in the form of camping holidays. A renewed interest in camping and the great outdoors led to a surge in demand for hiking and outdoor equipment as consumers got back in touch with nature. The change in gears means industry revenue has been growing at an annualised 3.6% over the past five years and is expected to total $2.1 billion in 2022-23, when revenue will jump by an estimated 3.6%. Profitability has fared well, rising on the back of strong sales and stores passing on higher purchase costs to maintain margins. The industry includes bricks-and-mortar stores that sell hiking and outdoor equipment, with a specific focus on camping and hiking supplies. The industry excludes sales of hiking and outdoor equipment from department stores and online-only retailers, but includes bricks-and-mortar stores’ online operations. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.