Below are the key insights taken from the State of the Outdoor Market for Fall of 2022. The outdoor sample set used for this survey included cross country skiers and those from other activities that cross country skiers frequently participate in.
THE OUTDOOR ECONOMY
According to the U.S. Bureau of Economic Analysis (BEA), the outdoor recreation economy produced a record $682 billion in economic output, 4.5 million jobs, and 1.9% of the total U.S. GDP in 2021.
RECORD PARTICIPATION
Outdoor recreation hit a record high in 2021, with 164 million participants, roughly 54% of the U.S. population.
FLUCTUATING INFLATION
Inflation is high and is likely to impact holiday shopping spend this year, but the economic pain appears to have peaked in June when inflation hit 9.1%. Inflation has dropped to 7.7% in October.
SHOPPING DESTINATIONS
Outdoor participants are more likely to shop at specialty retail shops, but a significant percentage of their holiday shopping will be done online.
LA NIÑA BENEFITS
La Niña will likely continue through the 2022-2023 winter, featuring colder and wetter weather in the northern U.S. and in Canada. The best seasons in terms of skier visits and snowfall have been La Niña seasons including 2007-2008 and 2010-2011.
SUPPLY CHAINS
Supply chains continue to be disrupted across the globe, but many logistics issues have eased, including an approximately 30% decline in shipping costs.
