Market research:
●
●
●
●
●
●
●
SUPs are set to create US$2.2 billion in absolute opportunity during the forecast period(20222023)
Global SUP market size estimated at, USD 337m(2021), USD 365m(2022) and is projected to
grow at CAGR of 8.55%(USD551.5m) (2022-2027) Global growth rate(2022-2025): 108.21 million
Projected forecast value: usd4.3b. Expected market value: usd1.65b
Fragmented market,due to large number of domestic+intl players
Majority of market share captured by key players(billabong,quiksilver.inc,hurley.inc) who control a
significant portion of the market, strong global presence.
Top 5 market players: ben bucker board, blue planet surf, funky sup, dunn-rite products, hobie cat
company
Leaders in the world of inflatable stand up paddle boards, having a global network of distributors
and retailers in over 50 countries.
Market trends:
● Growth factor: recreational activity that may boost health, water equipment suppliers are
implementing aggressive growth tactics, adoption of surfing in adventure tourism, use of sup for
yoga, leisure activities(surfing,touring racing)
● Less supervision needed, creates an ambient+relaxing environment when performing
exercises/yoga
● Training facilities across US/Europe offer SUP yoga classes. Growing trend of paddleboard yoga
contributes to the expansion of the industry, uptick in demand(2022-2023)
● Growing trend among youth who enjoy adventures/leisure activities. Sup integral for RA+LA
● Demand: Increased due to growth in tourism industry
- Adopting innovative technologies, novel materials to increase D in FP.
- Sports penetration increased to the point where D has resulted in a rise in sport equipment sales
in the world
- Low cost plastics anticipated to be the most preferred material for SUP. Has attracted
manufacturers, & increased D. Plastic to capture aprox 70% revenue shares
- Popularity of storage compartments in these paddleboards has led to an increase in demand for plastic
paddleboards. Also: affordable,high in strength, durability, and endurance, long lifespan, easy to handle,
sturdy (innovative, novel..good for increasing demand)
Manufacturers are to Incorporate eco-friendly materials to develop more reliable, versatile products,
better insulation
By collaborating strategically, manufacturers can increase production and meet consumer demand,
increasing revenue and market share.
Demographics: 50,000 stand up paddle (SUP) boards per year are sold in the US.
Average Annual Paddle Board Revenue in US: 50,000 * $1,100 = $55 million.
total European paddle board sales from 2015 European SUP market trend report. The report
roughly estimated the total sales of SUP boards in Europe to be 80,000. Just adding US & Eur
sales,50,000 + 80,000 = 130,000 boards sold per year. (=$143mil annualy,us+eur)
Median age for someone SUPing in 2012, 28. with the 18-35 year old demographic having the
most participation and the most interest in the sport. In 2013, 43% of the people who went
SUPing were female. A large part of this can be attributed to the popularity of SUP Yoga
- In 2011, 55,000 boards were purchased in USA. 95% of all SUPs are made outside of North
America (overseas) although the bulk of SUPs are purchased in North America.
-
According to figures from the National Marine Manufacturers' Association (NMMA), more
than 180 million individuals in the United States participated in water sports events in
2019.
North America:
● Dominated the global surfing equipment market with a share of 47.09% in 2020.
●
expected market share of north America market(2023): 11.2
● The high adoption of advanced technology and the presence of large players in this region are likely to
create ample growth opportunities for the market. 38% of growth to originate from NA
● expected to dominate the global stand up by rapid growth in the paddleboard market due to growing
interest for water sports among the people across the region. Lakes & rivers that are good for paddle
boarding. Rising popularity of leisure sports, expansion of surfing competition/events, presence of several
market players in area.
● North American weather is often favorable for paddle boarding,(mild summers and calm seas) making it
feasible to paddle board year-round in the region.
Competition:
●
●
●
●
SUPRA has helped promote eco-friendly water sports and provided SUP guidance during Kerala
Backwaters challenge.
Naish International, EXOCET, Tahe Outdoors, BOARDWORKS, C4 Waterman, Rave Sports, Sun Dolphin
Boats, RED Paddle Co., Coreban, NRS, and Slingshot Sports
Dunn rite products(23 aug2011): introduced a floral inflatable SUP board. Constructed with military grade
PVC, the floral inflatable paddleboard is as beautiful as it is rigid and durable with a maximum weight
capacity of 435lbs.
Blue planet surf(6 aug2021):Took over the management of the Tropical Rush Store in Haleiwa. Benefits
the company in improving sales of SUP along with creating demand for SUP board rental services.
Existing marketing campaign: Red Paddle Co, digital marketing, love the oceans
● Clear ESG focus. Completed its B-Corp application. Focused on a continuous “Taking Steps” strategy to
improve its global impact. Working towards a Net Zero status.
● A design-for-disassembly approach to product development aims to keep RPC serviceable for years to
come, allowing customers to replace component parts when necessary.
● LTOs: (world’s leading ocean conservation charity) partnered with the world’s leading inflatable paddle
board manufacturer, Red Paddle Co., who will donate 10% of their sales proceeds to LTO.
● Global campaign to come up with a unique design for Ride’s award winning 10’6” paddle board, building
creatives were invited to participate. Affordable, can be customized, fitted w accessories( fishing rod
holders, backrests)
● Competition was a collaboration between RPC and Spoonflower. A special repeater pattern was
designed by 1000s of creatives for the first ever limited edition SUP. (competition can come under
selection of media)
● strategy of continued innovation has seen Red Paddle Co register several patents as well as developing
industry-leading processes and materials. These have taken inflatable technology to the forefront of the
industry, to the point that inflatable boards are now the dominant technology,
● Approached innovation visual, wired media( R&D)
●
●
●
●
●
●
Wired: Red Paddle Co approached Wired Media when looking for an agency that could provide all their
web development and digital marketing needs. They wanted to cut down on the number of agencies
they had to work with, but more importantly, find an agency that would feel like an extension of their
current team. Wired manages all of RPCs digital marketing activities(SEO,PPC,paid search, ongoing
website maintenance and development )
Innovation Visual: Undertook a full audit of their website, including all the regional variations to
ascertain why the sites were performing so badly in organic search.
Got their paid campaigns working effectively and ensuring they were targeting potential customers
across their key markets - USA, Australia, UK and Europe.
undertook a complete overhaul of the paid campaigns, implementing separate accounts for their key
global markets and greatly improved the targeting of search terms, demographics and locations. We
designed and implemented a structured approach to their search and display ads and also introduced
video advertising to improve the top-of-funnel awareness of the brand and their range of products.
Within 3 months of beginning our work with Red Paddle Co, we doubled the organic visibility of their
website site for the 50+ key terms for which they wanted to rank. In addition to this, we saw rankings
for a number of the main product terms rise into the top 5 on Google where previously they had been
ranked outside the top 30.
This increase in organic visibility led to huge increases in traffic, with a 115% increase in monthly users,
just 3 months after beginning our work. Over a year later and our ongoing work continues to deliver
results, with a year-on-year increase in monthly users in July 2018 of 62% and a 66% increase in new
users.
SWOT:
● Strengths: Increasing number of surfing contests, Adoption of surfing in adventure tourism, Increasing
use of sup in yoga and leisure activities, Increasing government funding to drive up sup board sales
● Weakness: High cost associated with sup,Lack of skilled and experienced professionals,Costs associated
with surfing may inhibit the growth of the market
● Opportunity:Increasing investments in boosting recreational activities, Business opportunities from the
inflatables segment as it accounted for the largest market share in the base year. Growing alternative
distribution and sales channel. Change in the lifestyle and demographic of people, and the adoption of
global trends among youngsters
● Threats: Vulnerable to environmental and economic impact. Rising number of shape limitations. High
costs associated with paddle boards
Extension strategy:
•Partnerships with surfing clubs, professional surfers, and surfing superstars to get more clients.
•The exclusive online community provides a single platform for surf industry businesses.
•Specialty stores are willing to pay a greater price for higher-quality goods. They try to set themselves apart by
marketing themselves as a family store catering to young teenagers and their parents.
•Consumers with disposable cash prefer premium products.
•Product features, functionality, and comfortability are important considerations. Plastic is popular as they are
also high in strength, durability, and endurance, long lifespan, easy to handle, sturdy
•(video and google ads)
•Solitude and quietness of a surfing expedition is of great appeal to surf enthusiasts. Professional endorsements
such as there provide SUP board manufacturers with the necessary boost to increase their sales.
•Distribution channels: Online, Third Party Online, Franchised Sport Outlet, Retail Sports Outlet, Modern Trade
Channel, Specialty Store, Independent Sports Outlets
Costs:
Agency & consultation fees: $100 per hr avg, 10-20% markup
CPA(cost per acquisition),eg. $50, 200 new customers
Competition matching
SEO: $1500-$5000 per month
What’s included: keyword research, on-page optimization, analytics setup & reporting, copy additions &
updates, technical SEO, link building
PPC advertising: $9000-$10000 per month
Social media marketing: $4000-$7000 per month
Video advertising: youtuber ads, avg cost per view $0.01-$0.03. 100000 views is around $2000
Google ads: cost per click: $2-$4 on the search network. Most expensive keywords in google & bing, $50 or more
per click
Content marketing: $2000-$10000 per month
Email marketing: $300-$1500 per month