New report offers key finance and business operations benchmarks that enable brands to make more informed decisions that drive growth and profitability
BOULDER, CO (July 30, 2024) – A member-led collective and the outdoor industry’s catalyst for meaningful change, Outdoor Industry Association (OIA) today released its 2024 Outdoor Brand Benchmarking Report, presenting a detailed, straightforward analysis of the financial and operating characteristics of outdoor manufacturers for fiscal year 2023. The results show that the typical firm generated sales of $9,786,731 and a pre-tax profit of 11.9%. Sales for the typical high-profit firm were $6,768,674 with a profit of 18.5%.
As the sole and trusted source for benchmarks in the outdoor industry, OIA’s 2024 Outdoor Brand Benchmarking Report focuses on key business fundamentals, including:
- Financial Performance: Key financial ratios and detailed indicators across Profit and Loss and Balance Sheet statements, such as revenue growth, profit margins, and inventory turnover.
- Business Operations: Benchmarks focus on metrics such as SKU count, sales channel mix, marketing mix and ROI, sourcing mix, number of employees, and sales per employee.
- Actionable Best Practices: Tailored strategies cover revenue and gross margin optimization, asset management, and payroll control.
- Targeted Insights: Groupings by company size and product line help pinpoint opportunities within specific industry segments and compared to top performers.
“As the outdoor market continues to evolve at a rapid rate, it’s essential to know where your business stands versus the competition,” said Kent Ebersole, President of OIA. “The 2024 Outdoor Brand Benchmarking Report provides decision-makers access to data across all major business functions so that they can be equipped with the strategic intelligence needed to drive growth, efficiency, and profitability. It’s with this level of deep market understanding that industry-leading brands are created, and OIA is here to help our members get there.”
The benchmarking data was anonymously compiled from 46 outdoor industry brands across a range of company sizes and product categories.
For over thirty years, OIA has helped its members better understand the markets and people they serve by providing industry-leading research and expert perspectives on participation trends, market forces, and consumer insights. This new Benchmarking Report expands the value of OIA membership and enables outdoor brands to access data worth thousands, unavailable anywhere else.
The full report is now available to study participants and OIA Leadership Members (Manufacturer, Supplier, Distributor, Retailer, Sales Rep categories). OIA Support and Support+ Members have access to the 8-page Executive Summary. OIA has also released key insights of the report to the public to foster overall industry growth. To access the key insights and to learn more about OIA membership, please visit the OIA website.
About Outdoor Industry Association
Based in Boulder, Colo., with offices in Washington, D.C., Outdoor Industry Association (OIA) is a catalyst for meaningful change. A member-based collective, OIA is a passionate group of business leaders, climate experts, policy makers and outdoor enthusiasts committed to sustainable economic growth and climate positivity while protecting – and growing access to – the benefits of the outdoors for everyone. For more than 30 years, OIA has catalyzed a thriving outdoor industry by supporting the success of every member company across four critically aligned areas: market research, sustainability, government affairs, and inclusive participation. OIA delivers success for its members through education, events, and business services in the form of solutions and strategies, consultation, collaboration, and opportunities for collective action. For more information, visit outdoorindustry.org
