Opportunities with challenges: 2016 TBI Industry Confidence Index plots the industry mood
Triathlon Business International (TBI), the industry organization dedicated to promoting the sport and the business of triathlon, has today announced the summary results of its second industry confidence survey launched during the annual TBI Conference in January and conducted by MultiSport Research.
The inaugural confidence survey was implemented in January 2015 and provided a baseline for the data gathered in January 2016. Participants in the survey included TBI members representing a cross-section of the sport, including retailers, manufacturers, event producers, service providers and triathletes.
There are four areas where the 2016 versus 2015 industry mood remains positive: customer demand; staffing; respondents’ household finances; and prices.
When comparing the industry sentiment this year with the mood in early 2015, the remaining categories are negative: annual profits; the sport of triathlon (participation); business conditions; competition; and US economic conditions.
The full 2016 TBI Confidence Index Study, with year-on-year analysis, is available for US$500.
“As the world’s most advanced triathlon market, the United States multisport industry is at a crossroads,” said Gary Roethenbaugh, founder of MultiSport Research and the principal analyst on the TBI Industry Confidence survey.
“In the US, the industry has witnessed high levels of sales in recent years – from bikes, to apparel, accessories, coaching and event entries. Yet, the biggest concern amongst industry players appears to be a pressing need to drive participation rates upward.”
Survey participants responded to 13 online questions that encompassed their impression of: customer demand; staffing levels; personal/household finances; product/service pricing; profits; growth/business of the sport; business competition; and US economic conditions. Survey responses were aggregated to create a picture of the 2016 multisport business landscape, which was then compared to the 2015 data collected for the same questions.
“We believe an influx of new athletes is necessary to energize the entry-level of the market and ensure a healthy marketplace as those new athletes continue a path towards more premium products,” stated Richard Adler, Interim President of Triathlon Business International, after reviewing the survey results.
“It is hoped that increased exposure for the sport around Rio 2016 and initiatives like WomenForTri will build a fresh influx of new triathletes, and re-engage lapsed triathletes.”
An overview of the inaugural 2015 Confidence Survey is on the TBI website. The 2016 data, analysis and complete report comparing the 2015 baseline to 2016 can be purchased for US$500.
Also, for those interested in the TBI US Market Trends Study, ‘the most comprehensive industry research analysis’, the TBI Market Trends Study and the 2016 Business Confidence Report are being bundled for a discounted price of US$1,500 (a US$2,250 value). As TBI adds, these studies will provide valuable insights to guide a company’s efforts in marketing to the multisport audience.
To obtain either or both reports, or to obtain additional information, please email feedback[at]triathlonbusinessintl.com.
Triathlon Business International (TBI) is ‘the world's leading organization dedicated to promoting the sport and business of triathlon’. Founded by a coalition of industry leaders, TBI's mission is to leverage the knowledge, talent and resources of the leaders in triathlon to the benefit of the sport by increasing and retaining advocates of triathlon and fostering a positive image of the sport.
TBI will once again host its 25,000 sq ft Triathlon Pavilion at Interbike on 21-23 September 2016. The 7th Annual TBI Conference will be on 22-24 January 2017 at the Fairmont Hotel in Dallas, Texas. For information about exhibit space in the Triathlon Pavilion or the Conference, email feedback[at]triathlonbusinessintl.com.
Founded in 2010, MultiSport Research is a specialist research and consulting firm to the international endurance sport industry. The company was born out of a personal passion for multisport. Immersed in the world of endurance sport, MultiSport Research is committed to delivering the most robust insights on all category trends.
The company offers a wide range of services – from consumer and market research through to economic impact studies, product and consumer segmentation, pricing analyses, commercial due diligence, branding and strategy. MultiSport Research also produces triathlonbusiness.com, the dedicated news and information site for the international triathlon & endurance sport industry.