Bass Pro Shops Company Analysis

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Bass Pro Shops Company Analysis

Key Takeaways

  • Bass Pro Shops has an annual revenue of $6.5 billion.
  • The company's mission is to inspire "everyone to enjoy, love, and conserve the great outdoors."
  • One of Bass Pro's strategic initiatives concerning digital technology is the use of location intelligence from a geographic information system (GIS).

Introduction

This research presents a company analysis of Bass Pro Shops. This report includes a company overview, a description of corporate values and mission, strategic initiatives related to digital technology, quotes from an executive, existing marketing tech stack, challenges encountered, major competitors, and other relevant information. The details are outlined below.

Overview of the Company

  • Bass Pro Shops is a privately-held, private equity-backed company with about 40,000 employees. The company was founded by Johnny Morris in 1972, and it operates in the specialty retail sector.
  • Bass Pro Shops had a Venture Series funding round last February 10, 2015. The company had a total of 14 financing rounds and six investments. It is funded by Pamplona Capital Management.
  • Bass Pro Shops also had two acquisitions: PBH Marine Group and Cabela's. Bass Pro Shops acquired Cabela's on October 3, 2016, for $5.5 billion.
  • The company has an annual revenue of $6.5 billion.
  • Bass Pro operates a "chain of sporting goods stores" that primarily caters to fishing, camping, hunting, and golfing enthusiasts.
  • The company offers outdoor recreation merchandise such as those that are used for fishing, boating, hunting, golfing, and camping, among others.
  • The offered merchandise includes apparel and supplies, specialty equipment, fishing accessories, water sports clothing, boat and trailer, saltwater and marine accessories. These are offered through online and physical retail stores.

Corporate Values and Mission

Strategic Initiatives Regarding Digital Technology

  • One of Bass Pro's strategic initiatives concerning digital technology is the use of location intelligence from a geographic information system (GIS). This location intelligence would account for the differences in the state, county, and local pandemic-related restrictions.
  • Using GIS, the company created dashboards that show "the status of the company's operations across the country at a glance, along with valuable key performance indicators." This initiative is headed by Jason Jackson, the company's chief security officer. The dashboards helped Bass Pro leaders have a good grasp of the business's health and have also aided the company's humanitarian efforts.
  • Another digital initiative related to the GIS is the launch of a smart map that shows all key data that are updated daily. This map shows color-coded dotes that reveal all Bass Pro locations in the US, including the status of operations and "where employees had tested positive for COVID-19."

Quotes from an Executive Regarding Digital Strategy

  • According to Jason Jackson, "We needed to see data differently than just looking at it on a spreadsheet or through a series of emails. Smart maps helped paint a truer picture of what we were facing."
  • Bass Pro executives needed to have a good grasp of the tapestry of real-time data regarding variables in order to guide their decision-making. Jackson said, "Being able to understand at a time when there's chaos and complexity helps calm the situation, not only to be able to communicate outward and upwards but just to have a better sense of what's happening."
  • Jackson also said, "The beauty of dashboarding tools is that they help people visualize something that can be complex. It paints a different operational picture than just reading the spreadsheets and having the conversations." The image below shows Jason Jackson.

Existing Marketing Tech Stack

  • Bass Pro Shops has been using the Oracle Service Cloud for the company's Customer Support, the Oracle NetSuite Commerce for its eCommerce, and Domo for its Analytics and BI.
  • The company also uses Comosoft LAGO for the management and automation of the regional versioning of its tabloid inserts.

Corporate Challenges

  • Some challenges Bass Pro Shops encountered include maintaining business continuity during a global crisis and mounting an agile response to the pandemic.
  • Specifically, Bass Pro encountered a challenge in navigating the differences of municipal and state responses in locations where Bass Pro has a presence or a store.

Major Competitors

  • REI
    • REI is a company that offers outdoor merchandise such as those that are used for biking, camping, paddle boarding, kayaking, rafting and tubing.
    • REI's webiste can be accessed here.
  • Backcountry
  • LL Bean
    • LL Bean offers outerwear, footwear, outdoor equipment, bags and travel merchandise.
    • LL Bean's webiste can be accessed here.
  • Merrell
    • Merrell offers outdoor footwear such as those that are used for hiking and running.
    • Merrell's webiste can be accessed here.

Other Relevant Facts

  • In 2021, Bass Pro Shops has been recognized by Forbes as "one of America's Best Employers." Bass Pro Shops ranked 9th "out of 500 employers that qualified for the award."
  • In 2020, Bass Pro Shops was recognized by Newsweek as "America's Best-In-State Customer Service."

Research Strategy

For this research in Bass Pro Shops Company Analysis, we leveraged the most reputable sources of information in the public domain, including Crunchbase, Pitchbook, News Leader, Esri, and the website of Bass Pro Shops. The major competitors of Bass Pro Shops were chosen based on the brand's overall ratings as compiled by Knoji in its list of Bass Pro Shops Top Alternatives. The four major competitors listed above are the alternative brands with the highest overall ratings.

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