What is the target market for skateboards?

What is the target market for skateboards?

4.1 Market Segmentation Skateboarding, snow boarding, and surfing are popular pastimes for Northwest youth. We estimate a target population of 2,500 junior high and high school-aged students in Suburb, most of whom will visit Burly at least once, as the new cultural experience and the one and only skate shop in Suburb.

How big is the skate industry?

The global skateboard market size was estimated at USD 1.96 billion in 2019 and is expected to reach USD 2.00 billion in 2020.

Is skateboarding growing in popularity?

Skateboarding was already on the rise and would spike when the 2020 Olympic games were due. However, its recent spike in popularity has to do with the pandemic, skateboarding popularity skyrocketed the moment we went into lock-down. Skateboarding is in ads, movies, app, games, it’s everywhere.

Is Skating becoming popular?

Skateboarding growth has led to the sport becoming its own world, allowing skaters to turn what was once considered a hobby into a legitimate career. Internationally there are over 20 million skateboards, with 16 million of them being from the United States.

How old is the average skater?

The average age of skateboarders is between 13 and 14 and they participate in the sport on average 50.8 days in the year. 90% of them are male and 60% are under 15.

Are skateboard companies profitable?

Skate shop owners report a profit ranging from $30,000 to upwards of $200,000 annually. Revenue generated is largely dependent upon the community you’re a part of, the location you decide on for your storefront, and the quality of products you maintain.

Is skating losing popularity?

There are signs the popularity of skateboarding is declining: Industry studies show skateboarding involvement is down for nearly every age group, including the youth. Participation in skateboarding has declined. In the past ten years, parks are less crowded than they have ever been.

At what age should I stop skating?

Originally Answered: What is the Age for stop skateboarding? When you stop having fun or if you keep getting injured. It might be a good idea to stop at 50 or 60 though. Most people quit in their 20’s because of college and work.

What was the skateboard market size in 2018?

The global skateboard market size was valued at USD 1.9 billion in 2018. Rising demand for sporting activities among the younger generation will boost the product demand in the market. The product demand is fueled by increasing demand for skating as a sport in many countries.

Why is there an increasing demand for figure skating products?

The product demand is fueled by increasing demand for skating as a sport in many countries. Apart from using it as a source of fun, it also provides flexibility and good physical shape to the body.

What are the largest product segments in the skateboard industry?

Street board emerged as the largest product segment, accounting for 50.7% share of overall revenue in 2018. These skateboards are also known as popsicle board and are predominant in street skating.

Why are companies investing in skateboard manufacturing?

Companies are investing in manufacturing of skateboards in order to ascertain some percent of market share. For instance, in 2018, Inter IKEA Systems B.V. launched its first skateboard as a part of its furniture and clothing line in Southern California. Long board is the fastest growing product, expanding at a CAGR of 3.8% from 2019 to 2025.