Adapting to Change: Growth Strategies Breakdown

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Industry experts Matt Powell, Walt Sheppard, and Steve Gendron discussed about how the outdoor industry is rapidly evolving while business strategies lag behind and we will explore insights on how companies can adapt to these shifts

Highlights from the Q&A: Watch Key Moments

In your recent report, growth models for the outdoor industry, you identified 5 under leverage growth opportunities for outdoor brands and retailers. Can you share a bit about what prompted you to investigate these growth levers, and how you see the current state of the outdoor category?

Matt’Powell’s: During the pandemic, outdoor activities surged, driven by safety concerns and stimulus money. However, many consumers bought more gear than needed, resulting in fewer repeat sales, and climate change has impacted winter sales.

Walt’s Walt’s: While growth didn’t take off as I hoped post-pandemic, there’s great potential. Warmer winters present challenges, but the industry can adapt and find new ways to succeed moving forward

With a warmer October November December impacting traditional outdoor sales cycles, how can the outdoor industry adapt its strategies to continue driving growth and stay relevant to consumers in this changing environment?

Matt Powell’s Answer:The traditional model of delivering products in August and September and relying on snow is outdated. To adapt, we need to rethink the entire approach, including product delivery cadence, introducing new colours, collaborations, and embracing fashion trends. Retail is influenced by fashion, and it’s time for the outdoor industry to accept that, shifting away from expecting the old winter patterns to return.

Walter Shepard’s Answer: The outdoor industry can continue to grow, but we need to look beyond the traditional top-of-the-mountain approach. Brands like Vuori are succeeding by being relevant to a broader audience. Most new participants in the market are engaging at the base of the mountain, and we need to focus on making the outdoor market appealing to them, embracing versatility and fashion to stay relevant.

Where do you see the largest opportunity for growth welcoming new types of customers? And how do you see it translating into the expectations that consumers might have for their in-store experience and their interactions as they walk into a store? 

Matt Powell’s Answer:Families represent the largest growth opportunity in the outdoor industry. Their needs are often overlooked, and they typically start with little to no gear. Offering them essential, practical equipment, rather than high-end, elite products, can enhance their outdoor experience and drive growth.

Walter Shepard’s Answer: Younger generations and families are key to growth, especially as we make the outdoors relevant to their busy lives. The focus should be on outfitting people with apparel that allows them to feel like participants, with fashion playing a bigger role in how they engage with the outdoors.

Steve Gendron’s Answer: As a father, I see the importance of outfitting families with the right gear, especially starting with apparel. Many people engage with the outdoors because they did it as kids, so getting families involved and ensuring they have the right products is crucial for the long-term sustainability of the industry

For so many products in the outdoor space consumers rely on the in-store experience to touch and feel the product, to learn about the features and benefits. o what are some ways that brands and retailers can create a balance through the product, marketing and experience, to educate consumers and build that emotional connection, to help drive growth?

Walter Shepard’s Answer: In-store experiences help people connect with products, but the focus should shift from technical features to how the product enhances outdoor experiences. This approach can build stronger emotional connections and broaden the product’s appeal.

Matt Powell’s Answer: Instead of emphasizing technical specs, brands should highlight how their products enhance experiences. Connecting emotionally with consumers through relatable uses is key, with sales associates guiding them to the right gear for their needs.