How Dick’s Sporting Goods Bet Big On E-commerce And Won
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Күн бұрынAt $67.2 billion, the sporting goods industry became one of the fastest-growing industries in the U.S. in 2022. Dick’s Sporting Goods controls an estimated 14.2% of that market, the most of any company. In 2021, Dick's posted a record annual revenue of $12.3 billion and tripled its net income as it rapidly pivoted its distribution strategy during the pandemic. Just a few years prior, in 2017, the company had invested heavily in e-commerce which has come to pay off since the pandemic. Dick’s looks to sustain its record growth as it shifts its leadership to a new CEO, a focus on technology and navigating both in-brand and partnerships with giants like Nike and Adidas.
Chapters:
00:00 - Intro
1:15 - Humble beginnings
3:58 - Innovation & evolution
7:44 - E-commerce dominance
10:18 - The future of sporting goods
Producer: Darren Geeter
Senior Managing Producer: Tala Hadavi
Animation: Jason Reginato, Christina Locopo
Additional Sources: Telsey Advisory Group, Euromonitor International, IBISWorld, Reuters, SEC Filings, FactSet, National Sporting Goods Association, Harvard Business School
Correction 2/7: At 1.21 we misspelled Binghampton. The correct is Binghamton.
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How Dick’s Sporting Goods Bet Big On E-commerce And Won
@fredricklee Жыл бұрын
Data is power and acquiring Sports Authority’s customer information was a good move.
@matthewwynne939 Жыл бұрын
It was kind of funny how much backlash they got when they decide to stop selling guns. Sure, I bought a rifle from them once, but I never viewed them as a go-to gun retailer, not with that little corner they have dedicated to that department. It reminds me of when Fred Meyer decided to stop selling guns and there was an outcry, even though in my entire life I only ever saw ONE Fred Meyer actually have a gun section.
@sparkswolverine Жыл бұрын
I miss Modells. That’s was my sporting goods store in NY.
@genius179 Жыл бұрын
I liked getting jerseys from there.
@stevevarholy2011 Жыл бұрын
I worked for Galyan's to put myself through grad school. Galyan's was an amazing store with an esprit de corps which is rare for retail. Some of the Galyan's store brand clothing I bought with employee discount I still wear today. Real high quality merchandise. Shame they went away.
@yingelinchen3096 Жыл бұрын
“We never make the same mistake twice”, what a sophisticated way of doing business haha
@circletech7745 Жыл бұрын
Someone’s been waiting a long time to make that thumbnail title.
@junohcho2468 8 ай бұрын
Academy sports outdoors are the one that expanding their business so quickly and making more profits
@TracksideViews Жыл бұрын
I like to call it Richard’s just to confuse people
@squanchmastersquanch4376 Жыл бұрын
The only thing I learned is that there was a Chick’s Sporting Goods.
@jonathandallard716 Жыл бұрын
I’m actually from the area of upstate New York where the original shop was founded… it’s not spelled “Binghampton”, it’s Binghamton, NY
@minecraftmaniac0909 Жыл бұрын
I go to school here and was about to comment!
@alexlifeson8946 Жыл бұрын
No one cares.
@floooooooooood Жыл бұрын
glad someone brought this up! so often lazily misspelled like it's a part of long island lol put some respect on Binghamton
@Quanic2000 Жыл бұрын
Should've bought their stock when it was hovering around $70 a share 😪
@bjlabestre Жыл бұрын
I miss Sports Authority
@cjr21 Жыл бұрын
But it was marked up a bit. I remember comparing a same shirt at academy vs SA and saying WOW lol
@mackpines Жыл бұрын
I miss G.I. Joe’s. They were a great regional chain out here in the Pacific Northwest.
@largepimping Жыл бұрын
Hipster perspective: I miss Wigwam.
@LSM-10tex Жыл бұрын
I rather shop at Academy Sports and Outdoors. Pricing is better.
@AllenHanPR Жыл бұрын
Reading the comment section and I can already tell everyone here is over 30 years old.
@piedathemokona Жыл бұрын
And no jokes about the store name lolololol
@courtneymcgowan9561 Жыл бұрын
I don't miss Sports Authority at all but I sure do miss Sports Chalet😥
@fouroakfarm Жыл бұрын
They took it to the limit
@pinBin25 Жыл бұрын
I didn’t know about the public stand they’ve taken after the Parkland shooting. Very admirable. Will definitely try to shop there more.
@___beyondhorizon4664 Жыл бұрын
Sporting goods are expensive. I'm glad I love swimming, so my only equipment are swim Cap and swim suit! My Nike swim Cap lasted for 7 years, replace swim suit every year by swimming with 2 piece suit and replacing the bottom, as long as the colors coordinate. I do lap swim, no need for fancy non functional suits
@DerkThePigMC Жыл бұрын
Binghamton* not Binghampton
@benjfischer Жыл бұрын
I hope I find someone that clings to my memory the way that CNBC obsesses over Sport Authority. They are still probably blaming Under Armor's sales drop on SA.
@javi_park Жыл бұрын
slow and steady wins the race
@Collectivemindsnow Жыл бұрын
Could be the name im guessing!😅
@MS-37 Жыл бұрын
Dsg had dedicated “pickers” back in 2017. Essentially are individual stores were also distribution warehouses. I don’t know if Walmart and target were doing that at the time.
@bugattidorian Жыл бұрын
Nice
@martin2133 Жыл бұрын
Big 5 ❤
@Babugee9 Жыл бұрын
👀 I see what y'all did there.
@saulgoodman2018 Жыл бұрын
More stores, does not equal more money.
@double_joseph327 Жыл бұрын
More/new customers does equal more money.
@saulgoodman2018 Жыл бұрын
@@double_joseph327 Not all the time. A store can have high revenue, but smaller profits. Different locations, have different costs of overhead.
@double_joseph327 Жыл бұрын
@@saulgoodman2018 I didn’t mention anything about new stores. I said new customers.
@saulgoodman2018 Жыл бұрын
@@double_joseph327 I said more stores. Not more customers.
@hectoralejandro9883 Жыл бұрын
Do I have to point out the problem with the headline in the thumbnail?
@chardelraconner7324 Жыл бұрын
🔥
@SuccessfulladiesSoftLife Жыл бұрын
Most sports activities is a very reasonable form of entertainment and great for one's health. We love iceskating and soccer.
@davidbanks159 Жыл бұрын
I’m from the deep south, my neighbors couldn’t tell you what ice skates look like, wish i could try it.
@JosephGrandchelli1 Жыл бұрын
I miss Sports Chalet
@notapplicable4567 Жыл бұрын
Nice title
@UHaulTV Жыл бұрын
*kabelaz* has checked out
@alleneng Жыл бұрын
i guess this is the equivalent of sportchek in canada
@info781 Жыл бұрын
I loved sports authority, way better selection.
@ftwtech Жыл бұрын
1:25 “Binghampton”🤦♂️
@batlady89 11 ай бұрын
. Ex tremes do not stop the Market
@deadcat6085 Жыл бұрын
did that guy in the beginning just say that over 60% of US is participating in sports and activities? i don't think this is correct.
@junior1497 Жыл бұрын
The probably included people that WATCH sports
@shanewillbur1325 Жыл бұрын
This was one sided. Would have been better if you also interviewed ex sports authority execs. Or even some of the people that were at the equity firm, and a few store managers.
@anfield6321 Жыл бұрын
and therefore
@hsachbi Жыл бұрын
Standpoint
@YourMom-vl2sp Жыл бұрын
Congee back in about 5 years. This will go the way Sports Authority
@ismael_561 Жыл бұрын
Their products have high quality however, I think its products are quite pricy. I think they cater to the Upper Middle Class families
@chomihai Жыл бұрын
Never say never
@jadenpark7943 Жыл бұрын
simple. Lower prices, easy shipping and delivery
@MCorpReview Жыл бұрын
What. A …stack
@markmilitant Жыл бұрын
How did Modells fail then
@SLone3251 Жыл бұрын
Good for them, but all the Dick's I've gone to, even pre-pandemic, have been dead. Sure, some of the stores are well laid-out and all, but they're empty. Guess their sales are mainly online and curbside pickup.
@okinawanah3463 Жыл бұрын
Online sales is the new reality and with 1-2 day shipping there’s no incentives to go to a store except for trying on clothes and shoes for fitment
@SLone3251 Жыл бұрын
@@okinawanah3463 Yeah, exactly. Also with clothing it helps seeing the items in person because color and texture don't always translate well through a device screen. And of course, physical fit.
@theeraphatsunthornwit6266 Жыл бұрын
Will KZfaq censor my comment if i type out the name
@Pernection Жыл бұрын
I think their stores are too big
@user-cc1qy9bp8r 9 ай бұрын
Womens tapered leg joggers
@chadr4013 7 ай бұрын
Never shopped there, never will shop there, don’t know anyone who has ever shopped there. Waste of retail space.
@Shawnakasupaman Жыл бұрын
Hmm... odd!! Their prices are WAY TO HIGH... pass!!
@SK-lt1so Жыл бұрын
That's good because their stores are awful.
@LordChristJesus Жыл бұрын
Why yall hiding the truth ? 🕯️😂
@theYoutubeHandle Жыл бұрын
9:20, grindr much?
@joanpallas9537 Жыл бұрын
Tents for the homeless
@TheyCallMeJTK Жыл бұрын
What's assault style? 😂
@YoMateo. Жыл бұрын
Who didn’t come from TikTok raise their hands.✋
@supreme5998 Жыл бұрын
Wow. I haven’t seen kids participate in sports in 20 years. That’s nice sports still exists. Every kid has a cell phone. I wonder how many kids own a basketball.
@louie_rsy9734 Жыл бұрын
Sounds like you need to go out more
@supreme5998 Жыл бұрын
@@louie_rsy9734 I don't believe that I do.
@masterimbecile Жыл бұрын
Insert Richard jokes here.
@UrNotThatGuyPal Жыл бұрын
Dude surrounds himself with eagles and American flags yet doesn’t support the 2A, arguably the most American value. Ironic.
@geneclarke2205 Жыл бұрын
The most American value is capitalism. Dude bottom line, you work for Wall Street.
@alexlifeson8946 Жыл бұрын
Not everyone is paranoid about their masculinity as you, Elmer Fudd
@RealAnthonyJones Жыл бұрын
If it was the most American value, it probably would’ve been 1A. Just sayin
@DI-uk9rj Жыл бұрын
they still sell guns
@ajones1825 Жыл бұрын
@@alexlifeson8946 Not everyone has the strength to fight off an attacker either. Then again you apparently think masculinity is toxic so.. If someone broke into your house I'm guessing you'd bend over, drop your jammies and scream "take whatever you want".
@WhyDoThat Жыл бұрын
I stopped buying from them when they stopped selling ARs and start destroying them
@A_Legal_Immigrant_1776 Жыл бұрын
the whole banning guns, anti 2nd amendment crap turned me off....
@Ivorybilledwoodpecker1 Жыл бұрын
Scheel's is better
@lieroX316 Жыл бұрын
As non american i was surprised that they sell guns. I dont actually get why would sport equipment and clothing store even sell guns.
@bxkxhxkg82 Жыл бұрын
They just stop selling guns, they don't took off ur second amendment right, just Buy ur guns elsewhere
@double_joseph327 Жыл бұрын
@@lieroX316 hunting .. fishing … go hand and hand
@bananaboat1808 Жыл бұрын
@@lieroX316 A lot of Americans shoot for sport or hunting. Also historically, most sporting goods stores sold guns in the USA. Before the National Firearms Act of 1934, you could even buy fully automatic machine guns from sporting goods stores without a license or permit.
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