Positive industry mood in 2020 TBI Industry Confidence Study
Triathlon Business International (TBI), the industry organisation dedicated to promoting the sport and the business of triathlon, has today announced the results of its sixth annual Industry Confidence Study. Via an extensive survey and analysis process, conducted by independent firm MultiSport Research, there are nine main data points that form the basis of the TBI US Industry Confidence Index.
The 2020 confidence index compares positively to 2019, with this year having notably higher index scores in a number of areas. This year’s survey showed five positive category areas (business conditions, customer demand, sport of triathlon, household finances and prices).
“TBI’s sixth annual industry confidence study appears to show the multisport industry turning a corner,” said Gary Roethenbaugh of MultiSport Research. “While some challenges do prevail around areas such as profitability, having five out of nine positive categories is certainly encouraging.”
“The results of this year’s survey are in line with the conversations heard at the inaugural Endurance Exchange business conference in Tempe,” said Dan Empfield, President of TBI and Publisher of Slowtwitch.com. “Following a lacklustre period in previous years, the industry mood feels more vibrant, with growth opportunities in a number of areas across our sport.”
A few out-takes of the 2020 TBI Industry Confidence Study include:
Business Conditions: The sentiment on business conditions was firmly in the bottom half of the ranked industry confidence index back in 2017. With an uplift in 2018 and 2019, a positive vibe has continued into 2020. This area is now the top ranked in the 2020 confidence index, with a 10 point year on year uplift and an index score of 111.3.
Customer Demand: Following a previous lull, the views on customer demand have picked up. In 2019, and now in 2020, this area is back in the positive – with an index score of 109.2.
Sport of Triathlon (participation rate): As the third ranked index data point in 2019 and 2020, the mood on the sport of triathlon is notably more positive than in prior years. 2020 saw this area deliver an index score of 109.0 vs the baseline year of 2015. This is up 8 points on the index score in 2019.
The inaugural TBI Confidence Survey was implemented in January 2015 and provided a baseline for the data gathered in January 2016, 2017, 2018, 2019 and now in 2020. Participants in the survey include a cross-section of the sport, including coaches, retailers, manufacturers, event producers, service providers and brand owners.
The TBI Confidence Index encompasses: Customer demand; Staffing; Annual profits; Business conditions; Competition; Pricing; Growth of triathlon; Household finances; and US economic conditions.
Business confidence trends are analyzed to spotlight the areas that show positive and negative attitudes. Other data points in the survey include: growth of other endurance sports; and challenges and opportunities for triathlon.
All survey respondents have been sent a summary report of the latest findings, and TBI members receive the full report including the data sets. Non-members can purchase the full report for US$99.
Triathlon Business International is the world’s leading organisation 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.
The date and venue for the 2021 annual Endurance Exchange conference – a partnership between TBI and USA Triathlon – will be confirmed in the coming weeks. To become a member of TBI and receive the full 2020 Business Confidence Study, interested parties can go to TBI’s website.
Founded in 2010, MultiSport Research is a specialist research and consulting firm to the international endurance sport industry. 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 market quantification, through to consumer and market research, economic impact studies, product and consumer segmentation, pricing analyses, commercial due diligence, branding and strategy.
MultiSport Research also produces this site, endurancebusiness.com, a dedicated news and information site for the international endurance sport industry.