Brooks® Announces Market Share Gains and Winning Forecasts
Industry Survey Reveals Momentum MoGo for Running Brand
November 22, 2006
According to the latest Sports Marketing Surveys Running Specialty Store Sales Survey, released late last week, performance running company Brooks Sports, Inc. took home first-place standings for its Brand Strength Forecast and Market Strength Forecast in the running industry. The Fall 2006 survey also uncovered that retailers estimate Brooks’ market share increased from 18.9 to 21.4 percent in the past six months. Although unweighted, Brooks’ 2.5 point share gain outpaced all other brands.
Serving as a reputable proxy for the $417 million specialty running market, the report surveyed specialty running retailers nationwide to determine various running brands’ strengths, sales momentum, potential growth and more. It included in-depth phone interviews with 73 specialty running retail store owners and managers across the U.S. According to the report, retailers shared the following perceptions about Brooks:
- Brooks ranks No. 1 in the survey’s respected Brand Strength Forecast, which formulates each brand’s strength as reported by all running specialty stores that carry that brand.
- Brooks also ranks No. 1 in the survey’s Market Strength Forecast, which formulates each brand’s predicted strength as reported by all running specialty stores that participate in the panel, regardless of whether they carry the brand in question.
- According to retailer estimates, Brooks’ market share rose from 18.9 to 21.4 percent in the past six months – an unparalleled increase of 2.5 points.
- For the eighth consecutive season, Brooks leads the pack with No. 1 Brand Ratings for in-house customer service and product delivery. Brooks ranks No. 2 in eight additional Brand Rating categories, including performance technology, credibility with serious runners, sales rep support, current consumer interest and more.
- Brooks posted increases in nine of 11 Brand Rating categories – more than any other brand.
- Of all stores surveyed, 100 percent carry Brooks products – a coveted level of brand adoption in this respected channel.
Further supporting this industry feedback, earlier this month Runner’s World‘s 2006 Subscriber Study ranked Brooks the fastest growing brand among subscriber households based on a 77.3 percent ownership increase since 2002.
“We have never been more focused as a brand on delivering best-in-class products, service and energy to our customers, and these survey results further inspire us to stay the course,” said Jim Weber, president of CEO of Brooks Sports, Inc. “It’s all about being relevant to our industry partners and consumers, and we do that with a purpose driven culture that stays true to the run.”
Brooks sells roughly 80 percent of its gear in the specialty running retail environment – a strategic focus that has driven 11 consecutive quarters of double digit growth for the brand in this channel. Brooks’ current sales figures also reflect its specialty channel strength reported in this survey:
- Brooks’ fourth-quarter footwear backlog for 2006 is 75 percent higher than the backlog reported during the same time period in 2005.
- Brooks’ spring 2007 footwear bookings are up 34 percent relative to same season bookings in 2006.
- Brooks’ spring 2007 apparel bookings are up 44 percent relative to same season bookings in 2006.
Brooks Sports, Inc. is a leading running company that designs and markets a line of performance footwear, apparel and accessories in more than 40 countries worldwide. A subsidiary of Berkshire Hathaway Inc., Brooks was founded in 1914 and is headquartered in Bothell, Wash., near Seattle. The company’s mission is to inspire people to run and be active by creating innovative gear that keeps them running longer, farther and faster. Visit www.brooksrunning.com for more information.