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UK Market Insight: It’s Looking Like A Good One

Happy New Year, hopefully.

As I write this [early January], I suspect the well-earned Christmas break away from the coal-face will soon become a distant memory. By the time you read this, it will surely be forgotten. Slide/OTS is banging on the door, and all thoughts of R&R are long gone for us.
By Gordon Way

So, what does 2024 have in store for boardsports? More of the same? Something a little different perhaps? Depending on which side of the boardsports fence you sit, you will be hoping and praying for something very different (water), or perhaps more of the same (winter).

2024 looks like it will be a busy year, but will it be a positive year? Elections in the UK seem fairly certain. Presidential elections in the US will bring… OMG, what will they bring? Comfort and joy? Somehow, I doubt it, and neither are likely to resolve the ongoing conflicts in the Middle East and Ukraine (Fk Putin).

That said, for the UK, there are some distinct positives. Downward inflation and reducing interest rates are two major economic positives. The Olympics will hopefully add a positive spin and a certain feel-good factor. Perhaps the UK outlook will not be so bad after all, and it would be fair, at this stage, to anticipate a better year than 2023. Please.

Currently, winter sales are holding up well, and retailers are still calling in stock. Optimism is high (very high), and finally, the snow in Europe appears to be playing the game – albeit a little late and a little nerve-racking. Snowboarders are finding their way to the white stuff. One bonus of the later season does appear to have calmed nerves a little, and (dare I say this) the panic in-season sales from key UK retailers currently look like they may become a thing of the past. (Is that tempting fate? See later)

I checked in with Jeremy from TSA: “Quite good” – I had to try and get more as ‘quite good’ did not sound very enthusiastic. “No, no – it’s really good, really good, and the potential is even better if this level of business continues. Bricks and Mortar is holding up really well and following some amazing online business. Snow is brilliant in Austria and is now looking better in France, so we’re starting to fly now.”

Any problems? “I can see us coming under a little price pressure from Europe as I don’t think things are going according to plan there. They’re now suffering the cost-of-living pressure that we have seen for some time, so that’s something to watch – but at this point is nothing too drastic.”

So, you’re happy enough? “More than happy enough. December looks like it could have been the best since 2008 – the heyday – and if that continues for the rest of the season, we’ll have nothing to complain about”.

It would be fair to describe TSA (and Jeremy) as something of a giant in the UK snowboard industry, and it is well and truly ‘driven’ by Jez, who has snowboarding running through his veins. I know this only too well as we worked together with Sims back in the 80s – yes, we are both that old – although I have a few years on him!

I hope that I will not offend Ben Smith from Big Dreams if I describe his business perhaps as being at the other end of the scale in terms of size. He is a single-door, bricks-and-mortar snowboard store. His enthusiasm for the sport is, alongside Jeremy’s, without question. His ability to “talk snowboarding” is also famous, as is his frank approach to things.

“Bloody hell” what’s coming next? “December was unbelievable. It’s not always the strongest of months because we’re a selfish shop” Wait? What? Explain? “We’re not the kind of shop you visit to buy Christmas presents. We’re the kind of shop you visit to buy yourself some kit. The kind of shop you come to when you are being selfish and indulging your own desires.”

OK got it! “So December is not normally such a great month but, bloody hell, it was a record. Hardware flying out the door and good, expensive kit as well. People are not skimping, but they are going to make the kit last. They’re not necessarily buying a full setup, but they’re being selective, enhancing their current setup and buying really good stuff. It’s been nuts”.

Anything not going so well? “Clothing is a little bit slower but still good. Seasonnaires business is down – mainly because it’s now so hard to work in Europe. One thing that’s really good is we are seeing lots of girls getting kitted up, and the local dryslope is rammed – lessons fully booked up – even in the crap weather we’re having, the lessons are storming.”

While writing this article (under great pressure from Clive to make the deadline), Matt from Absolute Snow called. He was looking for some comfort “What’s going on with Europe?” Ahh, now this was interesting. “What’s happening?” As an online store, Absolute feels the pricing pressure from Europe ahead of a lot of others. “The snow is good, the season has not even started but the dumping is starting, and it’s hitting us. Consumers can get 20% – 25% off delivered duty paid. It’s mad. Completely bonkers”. I agree. After some discussion, we, like Jeremy, did come to the firm conclusion that there’s a cost-of-living impact that is slowing down Euroland sales and that is having a direct impact on pricing which, in turn, finds its’ way to Euro online stores available in the UK.

Apart from this, Matt confirmed that things are going well: “It’s not all doom and gloom, and we started off really well. August, September, and October were so good – amazing. I think it set my expectations really high and it’s just such a shame that we are up against this now.”

It was comforting to hear that the UK market does have its act together. “We’re seeing a little pressure with some brands and specific products where sticky lines are starting to be discounted, but there’s no blanket discounting, and it seems that the UK is really holding up well. I think we are going to have a great season, but the bumper expectations that I had may be dashed a little. C’est la vie”.

So now the winter boardsports industry heads full pelt to the sell-in season, the trade shows, the retailer visits, the on-snow tests. In a few short weeks, we will know where it’s heading and how the pre-orders are.

Optimism is high, retailers are still selling, snowboarders are still heading for the slopes, the snow is falling in Europe (rain in the UK), and tills are still ringing. Could this really be the second season running that we have a good one? That is if our Euro brethren do not dump too much in our back yard.

Hopefully – Happy New Year.