Remember the bumper sticker “Whoever dies with the most toys wins”? If you don’t, you are probably under 40. Millennials, the largest US generation ever, are poised to shape the economy. How are their shifting priorities driving the outdoor recreation market? They put health and exercise higher on the list than their parents and grandparents, but have less money to spend on active clothing and gear.
“The Millennial consumer has to be frugal in purchasing,” says Matt Powell, a senior advisor tracking sports trends for the NPD Group. “They have more college debt and were hurt by the recession. They may not have gotten into a good-paying job yet.”
Powell sees that reality manifesting in the following outdoor industry trends:
- A shift away from desiring the best sport-specific gear and apparel to moderate performing pieces that have a broader spectrum of athletic uses
- An increased demand for lifestyle apparel that is professional-enough for the office and performance-enough for the trail
- An increase in sharing-economy behaviors – renting gear vs. buying, and buying used gear
We’d like to explore all of the above for our next reader survey and an in-depth feature in the summer issue of Outdoor Retailer magazine, and we’d love to have your input!
Do you see generational differences when it comes to your customers desiring “the best”? How has the trend toward lifestyle products affected what you choose to sell? Are you experiencing an increased demand for rental and used products? Whether your answers are yes or no, we’d like to hear your responses to these and other related questions. We are partnering with CLK Consulting to conduct this survey, and results will be published in our Summer 2018 edition.
Three survey participants will be selected in a random drawing to receive $100.
Click here to participate in our survey:
We look forward to hearing from you!
If you have questions about the survey, feel free to contact Courtney Holden, Courtney@clkmarketresearch.com.