Consumers purchased $969 million in used sporting goods equipment in 2008, according to a report just released by the National Sporting Goods Association (NSGA).
The used sporting goods equipment market had exceeded $1 billion the previous two years. Sales were $1.08 billion in 2007 and $1.01 billion in 2006.
Purchases of used equipment for the outdoor sports (camping, fishing and the shooting sports) reached $636 million, the largest single category. Versus 2007, the outdoor sports category fell 5%. Used exercise equipment (the second largest category) had purchases of slightly more than $158 million, a 24% drop versus the previous year.
“With the rise in the number of sporting goods stores that emphasize used equipment sales and the growing use of the Internet, it is important for NSGA to look at the impact of these changes in channels of distribution,” NSGA VP of Information & Research Thomas B. Doyle said. “The purchase of used equipment is a two-edged sword. It may take away from new equipment purchases initially, but it also may provide the entry point for future purchasers of upgraded equipment.”
In certain product categories, the number of units purchased is substantial. In exercise equipment, more than 500,000 treadmills and stationary exercise bicycles were purchased used. The average price is not high, $124 for a treadmill and $50, for an exercise bike. A majority of the sales continue to be between private individuals.
“Purchases of Used Sports Equipment in 2008” uses the same panel as is used for NSGAs “Sporting Goods Market” report. The report is based on a survey of 60,000 households in which 39 products were surveyed regarding purchases during 2008. “Because of the limited number of products surveyed, the total used equipment market is much larger than the amount reported in the study,” Doyle said.