According to a recent study from the Surf Industry Manufacturers Association (SIMA) the surf industry is on a two-year sales increase of close to a billion dollars. So what exactly does this mean? Sales from 2004 to 2006 have increased from $6.52 billion to $7.48 billion (14.5%) with no signs of slowing down.

The SIMA study contributes the growth to the mainstream popularity of surfing, purchasing power of women, brand diversification, and the industry’s loyalty to core distribution channels. Brand diversification is one major factors now that most apparel companies have gone beyond the traditional shorts and t-shirts into full lines of both soft and hard goods. Women’s sales in the industry are up 32% in the same period.

The Internet is also a major factor in driving growth. In 2004 only 6% of sales could be attributed to the web. In 2006 that number has increased to about 25%. What’s a little disappointing is that only 23% of retailers use the Internet as a sales channel, but those who do are seeing close to a 30% increase in sales.

SIMA

Posted by Cameron on Monday, July 9th, 2007 in Surfing.

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