Retail giant Intersport is challenging consumerism trends
Intersport, Germany's largest sports retailer group, is gearing up for expansion with a focus on premium stores across the country. With approximately 700 retailers and over 1,400 stores nationwide, the cooperative association aims to increase its market share and turnover in the coming years.
The retailer group reported a turnover of 3.46 billion euros in the 2023/24 business year, which was one percent below the previous year's peak. However, Intersport has managed to benefit from high demand for running sports articles, making it the official partner of several Hyrox races.
Hyrox, an indoor competition where participants run 1,000 meters eight times and complete workout stations in between, is one of the events that retailers in these premium stores target. Intersport has also partnered with Hyrox, with more than 12,000 athletes expected at the Hyrox event in Hamburg at the beginning of October.
Alexander von Preen, head of the retailer association, stated that more than half of the 2023 target for store expansion has already been achieved. Intersport plans to open at least 100 new stores in Germany by the end of the decade, with a particular focus on large premium stores in major cities such as Berlin, Munich, and Hamburg.
Intersport is also investing in its own online marketplace and digitalization to cater to the growing online shopping trend. The business year runs from early October to the end of September, and the final quarter is particularly important for retailers, according to Alexander von Preen.
Despite sluggish consumer sentiment, Intersport is expecting slightly better business, aiming to achieve a market share of over 30 percent by 2030 and increase its turnover to around six billion euros by the same year. Activities are also planned for the upcoming men's football World Cup, making it an exciting time for sports enthusiasts and Intersport alike.
The retailer association did not provide information on profits for the 2023/24 business year. However, with its expansion plans, focus on premium stores, and investment in digitalization, Intersport is set to continue its dominance in the German sports retail market.
