Sporting Goods Product Innovation Trends
How will you get ahead of product trends in an ever-evolving market?
Like other consumer industries, sports and outdoor product categories are impacted by far-reaching market trends likely to influence the direction of your innovation pipeline. Back in 1992, for example, Magellan founder Ed Tuck used brand new GPS technology to launch the first handheld navigation device for consumers, used at first mostly by mariners and avid boaters. Similar technology is now easily available to every smartphone owner in the world, but that wasn’t always the case. A more recent example is the addition of Video-Assisted Referee (VAR) technology used in the 2018 FIFA World Cup. It’s only a matter of time before similar technology is rolled out across the elite sports world.
More than technological advancements, leaders in sports and outdoor industries should consider other big trends shaking up the market: sustainability in sports equipment manufacturing; the rising concern over the long lasting effects of head injuries in contact sports; the recent legalization of sports gambling in the US, shifting retail channels from brick-and-mortar to online, just to name a few. How will these trends, and others yet to be realized, impact your organization?