Target Markets
With a projected world skating market of 31 million that is steadily growing (statistics released by the Sporting Goods Manufacturers Association), the niche has been created. Pegasus's aim is to expand this market by promoting SkateSailing, a new sport that is popular in both Santa Monica and Venice Beach in California. The breakdown of participation in skating is as follow: 1+ percent speed (growing), 8 percent hocky (declining), 7 percent extreme/aggressive (declining), 22 percent fitness (nearly 7 million - the fastest growing), and 61 percent recreational (first-timers). Pegasus's products are targeting the fitness and recreational groups themselves toward health and fitness, and combined they can easily grow to 85 percent (or 26 million) of the market in the next five years.