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Dick’s Sporting Goods Annotated Bibliography

Info: 1375 words (6 pages) Essay
Published: 23rd Sep 2019 in Business

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Dick’s Sporting Goods Annotated Bibliography

Dicks Sporting Goods. (2018). 2017 annual report of Dicks Sporting Goods. Retrieved from http://investors.dicks.com/interactive/newlookandfeel/4193280/pdf/2017-ar-020518.pdf

This 2017 Annual Report is written to stakeholders and includes pertinent external information information including the rise in e-commerce, how wage increases could affect their financial results and how intense competition in the sporting goods industry and retail could limit their growth and reduce their profitability. Dick’s has increased their e-commerce revenues by 12.4% over year 2016. Furthermore, Dick’s implemented their own software platform in January of 2017 to maintain better control of their e-commerce transaction and sales.

Business Insider. (2017). E-Commerce will make up 17% of all US retail sales by 2022 – and one  company is the main reason. Retrieved from https://www.businessinsider.com/e-               commerce-retail-sales-2022-amazon-2017-8

Business Insider describes how the rise of e-commerce will be a threat to brick and mortar retailers who will see a decline of foot traffic in their stores and declining store sales which will all lead to more store closures. Additionally, Amazon is driving the e-commerce sales market in which the company had 53 percent of online sales growth in the United States this past year. Brick-and-mortar stores have started to try to compete by offering convenient and cheaper delivery options for online shoppers, limiting shipping costs by using store networks for delivery, and keeping stores open by letting customers pick up online orders there.

Winmark. (2018). Will the sporting goods resale industry win big in 2019. Retrieved from                                 https://www.winmarkfranchises.com/blog/2018/october/will-the-sporting-goods-                resale-industry-win-big-/

This article examines the sporting goods resale industry. It explains that more individuals are paying attention to their health and there is a demand within the industry. However, certain workout gear and sports equipment have shown a decline in sales. More people are wanting to by used sporting good equipment for reasons such as the price savings and the short use a new product might have if a child uses it and then outgrows it. The article also mentions Dick’s Sporting Goods, explaining that retailers like Dick’s are struggling due to the prices of direct-to-consumer marketing. This new resale sporting goods industry could be a threat to companies such as Dick’s Sporting Goods.

Retail Dive. (2018). The state of sports retail: how athleisure keeps changing the game.   Retrieved from https://www.retaildive.com/news/the-state-of-sports-retail-how-               athleisure-keeps-changing-the-game/518126/

This article looks at the four biggest trends that are currently impacting sports retailers today. These four trends include the increased popularity of athleisure, sportswear brands becoming lifestyle brands, the issue sports retailers face with Amazon, and the difficulty retailers are having in the sports retail industry currently. Over 50 percent of all shoppers start their searches at Amazon leaving brands such as Nike announcing they will sell through Amazon. This is creating difficulties in terms of shares at Nike’s retail partners. Many sports retail stores such as Sports Authority have turned to bankruptcy in recent years because they are not able to keep their place in the market. The article states that Dick’s Sporting Goods currently controls 19% of the market, which means they will have more negotiating power and receive larger discounts.

Forbes. (2018). How higher minimum wages impact employment. Retrieved from:   https://www.forbes.com/sites/adammillsap/2018/09/28/how-higher-minimum-wages-               impact-employment/#6d7bcea01e7d

Debates have been continuing on whether increases in the minimum wage will have effects on employment. This article looks at the reasons it may and may not, however it states that in a recent study by the American Economic Review increases in the minimum wage reduce employment in the long run. The most negative effects of wage increases are that more companies close than lay off workers which causes a larger unemployment. Depending on what city the company is located in might also make a difference on what happens when the minimum wage increases. This shows that minimum wage increases might help certain businesses in certain cities but cause problems in other cities.

Forbes. (2017). E-commerce is affecting brick and mortar retail, but not in the way you think.                Retrieved from https://www.forbes.com/sites/quora/2017/11/27/e-commerce-is-               affecting-brick-and-mortar-retail-but-not-in-the-way-you-think/#11ccf74422bd

United States Census data states that 90 percent of consumer spending is still happening in stores due to the fact that people still want to try on clothes or test products or be able to take the items they bought home with them. However, people are doing research online before they head into a store. Foot traffic is starting to lessen in bigger stores, but more people are showing up for store closing sales. Bargain brands such as Dollar Tree and Marshalls have seen an increase in foot traffic as have high end stores such as Lord & Taylor. Many middle stores are the ones that are feeling the pressure of e-commerce.

Wall Street Journal. (2018). Gun stance may hurt struggling Dick’s Sporting Goods; will investors support the chain for being socially conscious? Retrieved from               https://search.proquest.com/usmajordailies/docview/2013452756/8C54D66797E74CE2               PQ/18?accountid=139376

Dick’s Sporting Goods announced in early 2018 that it was going to stop selling assault rifles and raise the age requirement to purchase guns. After that, there shares rose while the stock market fell. The article describes that it seemed that investors wanted to reward socially-conscious firms such as Dick’s to begin with. However, Dick’s Sporting Goods has been struggling unable to keep up with the competition of other sporting goods retailers such as Scheels who still sells guns. It may be because customers that came to Dick’s not only bought guns but other goods as well. Now they are not shopping there because of this. Although Dick’s is being socially responsible, it is unknown of how this decision will impact them in the future and if will cause them to lose customers to the competition.

Wall Street Journal. (2018). Wage gains threaten to squeeze retail, industrial profits; higher  labor costs pose risk to some U.S. companies already facing trade-related tensions,  limited pricing power. Retrieved from                 https://search.proquest.com/usmajordailies/docview/2066401985/4F11CEE2E821497F               PQ/2?a ccountid=139376

This article describes that the increase in wages is hurting the profits of companies all across the United States including dollar stores, hotels, and restaurants. It may be good for some businesses that the pay does increase, because more consumers may be willing to spend more money on non-essential purchases. However, it can be hard for brick-and-mortar stores to increase their employee’s wages, because they are required to be competitive with online retailers. Many companies are trying to avoid raising the minimum wage but are having a tough time finding good, reliable employment unless they do. The raise in minimum wage could cause brick-and-mortar stores to have problems finding employment and staying competitive with the increase in e-commerce.

 

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