The results of the latest quarterly action sport retail survey, conducted by Board-Trac and the Board Retailers Association (BRA) are in and yielding some interesting results:
1. 65.2% of specialty retailers reported that comp stores sales were down Q4 2008. 68.4% indicated that margins were down as well.
2. 58.2% reported that their overall 2008 sales compare to 2007 were down. 31.6% reported an increase with sales/discounts being the single largest contributing factor.
3. 45.6% of retailers reported that the sale of hardgoods are down while 54.4% indicated a decrease in apparel sales.
4. 63.4% of retailers under forecast actual sales for 2008. Looking forward, 31.6% expect to increase sales in 2009 while 37.4% expect to have a decline.
5. 65% of retailers reported that they either didn’t have an ecommerce site or that it was less than 5% of annual sales.
6. Almost 70% of retailers expressed interest in carrying new brands. Diversifying product is key to success and a way of creating a unique retail destination.
Log into www.boardretailers.org to see the complete survey results. If you participated in the survey, you will receive the full report and accompanying analytics via email from Board-Trac and BRA.