How Hibbett is Leaning Into ‘Underserved Markets’ To Win Over Consumers With Nike and Adidas

Hibbett Sports has a unique brick-and-mortar advantage when it comes to winning over specific consumers. The athletic speciality store focuses on “underserved markets,” where there is less competition. This strategy helps it win over consumers that have fewer shopping options available to them. It also drives value for its key vendors. In a call with investors recapping the company’s third quarter results, Hibbett president and CEO Michael Longo said that the company expects that by January 2022, more than half of Hibbett stores will have no competition from stores within three miles that carry similar key products. To illustrate this point, Longo recalled his experience shopping in a Hibbett store in what he described as an “underserved market” in Texas. When he asked the manager to name the store’s biggest rivals in the region, they could not come up with an answer, with so few competitors nearby. “Our nearest competitor who sells product that looks like us anywhere close to us is 45 minutes away,” said Longo of this store, as well as many others. “So we basically are the only point of distribution for Nike, Jordan, Puma, Adidas, Under Armour etc, in this county, 45-minute radius around the store. So we’re pulling that

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