A Retail Kingdom Built on the Great Outdoors

1 Bass Pro DriveMemphis, Tennessee 38105

On a balmy afternoon in Memphis, families ride a glass elevator 28 stories up to the apex of a gleaming steel pyramid. Below them, beneath faux cypress trees and twinkling lights, stretches an indoor swamp stocked with live alligators and fish. This surreal scene is not a theme park or museum, but a Bass Pro Shops megastore – perhaps the most extravagant symbol of how the outdoor retail giant has transformed shopping into an immersive adventure. Founded in 1972 as a small bait-and-tackle shop, Bass Pro Shops today presides over a retail empire that blends retail, real estate and recreation in a way few others can match.

From Bait Shop to Outdoor Empire

Bass Pro Shops’ journey from humble origins to nationwide powerhouse reads like a classic American success story. The company was launched by Johnny Morris, an avid young angler who began by selling fishing lures out of his father’s liquor store in Springfield, Missouri in 1972. Morris’ knack for understanding outdoor enthusiasts’ needs quickly grew the venture from an 8-foot bait counter into a standalone “Outdoor World” superstore by 1981. Over the ensuing decades, Bass Pro Shops expanded its footprint across the United States, cultivating a near-fanatical customer base of hunters, anglers and campers drawn to its vast selection of gear and folksy, conservation-oriented brand ethos. Morris – now a billionaire still known as the company’s hands-on “Chief Outfitter” – has remained at the helm, imprinting Bass Pro with his personal passion for nature and sportsmanship.

A defining moment in the company’s history came in 2017, when Bass Pro Shops acquired its chief rival Cabela’s in a blockbuster $4 billion deal. The merger of these two outdoor retail icons (Bass Pro known for fishing and boating, Cabela’s for hunting and shooting) created a combined entity with unmatched scale in the industry. The acquisition instantly nearly doubled Bass Pro’s revenue base and brought together 195 locations under one roof, including both Bass Pro and Cabela’s-branded stores. According to MMCG data, the company today occupies roughly 24 million square feet of real estate across its ~195 stores and support facilities, about 82% of which is dedicated retail showroom space. The remaining footprint includes distribution centers, boating manufacturing plants and corporate offices – including Bass Pro’s rustic headquarters campus in Springfield, MO, complete with an on-site wildlife museum and aquarium. Bass Pro Shops now employs approximately 40,000 people nationwide, all working toward Johnny Morris’s vision of bringing the great outdoors to every customer.

A Nationwide Footprint of Destination Stores

From New England to the Pacific Northwest, Bass Pro Shops’ geographic footprint is as sprawling as its cavernous stores. The retailer operates nearly 200 locations across the U.S. and Canada, overwhelmingly in suburban or exurban locales where massive stores (averaging over 120,000 sq. ft. each) can be built to resemble indoor wildernesses. These outlets aren’t just places to buy gear – they are destinations unto themselves. Bass Pro’s very first flagship in Springfield became Missouri’s top tourist attraction, and newer stores strive for similar draw. Many locations feature grand lodge-like architecture with log timbers and stone fireplaces, towering aquariums filled with native fish, indoor waterfalls and giant dioramas of woodland scenes complete with taxidermied deer and bear. It’s all designed to make customers feel “immersed” in nature from the moment they walk in, blurring the line between retail and theme park.

That experiential retail strategy has been a cornerstone of Bass Pro’s real estate approach. “Bass Pro Shops were executing experiential retail long before we started calling it that,” one industry analyst observed. The stores masterfully blend merchandise with entertainment and education: one might host a free fishing seminar for kids in the morning, a turkey-calling contest by noon, and welcome Santa Claus for holiday photos by evening. The goal is to keep customers lingering – and shopping – for hours. This model requires significant investment in real estate – these aren’t lean small-footprint stores – but Bass Pro’s bet is that bigger is better when it comes to selling outdoor lifestyle. So far, that bet has paid off in strong foot traffic and shopper loyalty, even as many traditional retailers struggle to draw people away from their screens.

Notably, Bass Pro Shops has maintained two distinct retail brands since the Cabela’s merger. Dozens of legacy Cabela’s stores continue to operate under their original nameplate, especially in the Great Plains and West, capitalizing on Cabela’s strong brand heritage. In other regions, new stores carry the Bass Pro Shops banner. The company has been selective in opening new locations in recent years, focusing on strategic markets (a new Bass Pro is slated for upstate New York next year, for example) and investing in overhauling flagship sites. This careful expansion reflects a maturing footprint: with presence in almost every U.S. state, the chain is increasingly turning to maximizing the appeal and productivity of existing stores rather than sheer unit growth.

Market Position in a Changing Sporting Goods Industry

In the world of sporting goods retail, Bass Pro Shops occupies an interesting niche straddling two arenas – the brick-and-mortar sporting goods store sector, and the online/outdoor e-commerce sector. By the numbers, the company is a major player but not the absolute largest in overall sporting goods sales. MMCG analysis estimates Bass Pro (including Cabela’s) accounts for roughly 4.1% of all U.S. sporting goods store revenue. That puts it in the top three chains nationally – a respectable position, though well behind generalist rival Dick’s Sporting Goods, which commands about 12–13% of the market. Another competitor, Academy Sports + Outdoors, holds around 5% share, focused largely on the South and offering a more value-oriented assortment. Meanwhile REI Co-op, with its emphasis on hiking and camping gear for enthusiasts, holds roughly 2% share. In short, Bass Pro is one of the heavyweights of the brick-and-mortar sporting goods space – albeit an “outdoor specialist” among more broadly sporting peers.

Where Bass Pro truly stands out is in the online arena. Thanks in large part to Cabela’s legacy mail-order catalog and e-commerce business (which was a pioneer in selling outdoor gear remotely), Bass Pro has become the leading incumbent in online sporting goods retail, with an estimated 21.1% share of the U.S. online sporting goods market. This is a commanding lead over the next-largest specialized player (Dick’s, at about 15% online share). In fact, Bass Pro’s online revenue – through its BassPro.com and Cabelas.com websites – is estimated at over $8.3 billion annually, placing it #1 among specialty outdoor retailers on the internet. This strong online presence proved invaluable during the pandemic months, when consumers flocked to digital shopping; it also reflects the chain’s catalog-driven roots. Even as e-commerce giant Amazon and big-box stores like Walmart capture a large portion of general sporting goods sales, Bass Pro’s online business benefits from its specialized assortment (e.g. firearms, archery, marine equipment that many general retailers don’t carry or can’t ship easily) and loyal outdoorsy customer base.

Financially, Bass Pro Shops is a privately held company and does not disclose detailed results, but industry analysts peg its total annual revenue in the ballpark of $8–10 billion, with healthy profitability. MMCG’s estimates a profit margin in the mid-single digits for the retail operations (roughly 5% net profit) – on par with many peers, though trailing the exceptionally strong margins that Dick’s Sporting Goods has posted recently. In the traditional store segment, Bass Pro’s sales growth has been relatively flat in the past few years, causing a slight dip in market share (down from about 4.8% in 2021 to 4.1% in 2025). Competition has intensified and some product categories (like firearms) saw extraordinary spikes in 2020 that have since normalized. Still, the company remains solidly profitable and significantly larger than it was a decade ago, thanks largely to the Cabela’s merger. That 2017 acquisition instantly elevated Bass Pro’s scale – “significantly increased [Bass Pro’s] industry-relevant revenue,” as one analysis noted – and gave it the heft to compete toe-to-toe with Dick’s on many fronts.

Crucially, Bass Pro has differentiated itself by doubling down on its outdoor niche rather than trying to be all things to all sports fans. Unlike Dick’s, you won’t find baseball cleats or golf clubs as core focuses at Bass Pro. The company’s sweet spot is the hunt-fish-camp market, and it dominates that segment. This focus can be a double-edged sword: it forgoes some revenue streams (e.g. team sports, fitness equipment, athleisure fashion) that competitors exploit, but it gives Bass Pro a clearer brand identity and stronger loyalty among its target consumers. As one retail consultant quipped, “Cabela’s founder’s words ring true – ‘we don’t sell a lot of things people need, but we do sell a lot of things they want’*”. In other words, Bass Pro’s business is rooted in discretionary passions and hobbies. That makes creating an enticing experience and emotional connection all the more critical to its success, since it isn’t selling everyday necessities – it’s selling the outdoor dream.

Strategies: Experience, Exclusivity and Expansion

Bass Pro Shops’ strategic positioning in the market largely comes down to three pillars: immersive experience in stores, a broad yet curated product selection (augmented by strong private brands), and an embrace of omnichannel retailing to reach customers wherever they are. Underpinning all of this is a commitment to conservation and outdoor heritage that the company uses to differentiate its brand.

Experiential Retail as a Draw. Long before “retailtainment” became a buzzword, Bass Pro was perfecting the art of turning stores into attractions. Johnny Morris often refers to his outlets as “living museums of the outdoors.” In practical terms, that means investing in features like 30,000-gallon aquariums stocked with bass and catfish, indoor shooting ranges and arcades, archery test ranges, bowling alleys with underwater-themed decor, and restaurants serving up wild game or fresh-fried fish. Shoppers can test out a new compound bow, consult an in-house “Boat Center” about purchasing a Tracker fishing boat, or simply wander the aisles admiring hundreds of trophy mounts and vintage outdoor memorabilia hanging from the rafters. No two stores are exactly alike – each is tailored to local geography (a desert motif in Arizona, waterfowl haven in Louisiana, mountain lodge in Colorado, etc.), enhancing the sense of unique place. “Shoppers love a spectacle. [Bass Pro] should be a destination and might attract people who otherwise wouldn’t visit a Bass Pro,” noted one retail expert of the chain’s newest megastore. Indeed, by making stores fun to visit, Bass Pro gives customers compelling reasons to come in rather than just click “add to cart” online.

Broad Assortment and Private Labels. Bass Pro Shops carries an enormous range of products – essentially “everything outdoors” – yet it strives to maintain authority in each category it sells. From high-end bass boats and ATVs to humble fishing hooks and tent stakes, the selection is deep. The company stocks famous national brands (Yeti coolers, Columbia jackets, Remington firearms, etc.), but also heavily promotes its in-house brands that are exclusive to Bass Pro and Cabela’s. These proprietary lines span apparel, equipment and accessories: RedHead for apparel and hunting boots (a venerable brand dating to the 1850s, acquired by Bass Pro), Ascend for camping gear and clothing aimed at hikers and backpackers, White River Fly Shop for fly-fishing rods and tackle, Johnny Morris Signature Series for premium fishing rods and reels, XPS (Extreme Performance Series) for lures and marine electronics, Offshore Angler for saltwater tackle, BlackOut for archery gear, and many more. By one count, Bass Pro’s portfolio includes over a dozen house brands covering everything from camo clothing to kayaks. These private labels serve a dual purpose: they differentiate the product mix (you can’t get them at Amazon or other competitors) and boost profit margins, since Bass Pro can source or manufacture them at lower cost. They also reinforce brand loyalty – a customer who loves her RedHead flannel shirts or his Ascend hiking pack must return to Bass Pro for replacements. According to MMCG analysis, Bass Pro/Cabela’s stores generate a substantial portion of sales from owned brands and exclusive products, far more than most rivals. That said, the company balances this with big-name brands to ensure it remains a one-stop shop; you can still find Nike or Under Armour athletic apparel in the mix, but often positioned adjacent to Bass Pro’s own RedHead or Natural Reflections clothing as a value alternative.

Omnichannel and Online Integration. While Bass Pro is famous for its physical stores, it has also adapted to the digital age – out of necessity and legacy. The Cabela’s catalog business was essentially an analog forerunner of e-commerce, cultivating remote customers for decades. Today, Bass Pro’s websites and mobile apps carry that torch. The company has invested in a robust e-commerce platform that offers the full inventory of both Bass Pro and Cabela’s, and it has integrated its loyalty program (the Outdoor Rewards Mastercard/CLUB credit card, backed by Capital One) across channels to encourage repeat business online and off. Customers can order online for in-store pickup – a popular option for firearms, which by law must be transferred at a store, and for heavy items like gun safes or kayaks to avoid shipping costs. During pandemic lockdowns, Bass Pro pivoted to curbside pickup and enhanced its digital content (streaming fishing workshops on Facebook Live, for example) to keep people engaged. E-commerce now contributes an estimated half (or more) of Bass Pro’s revenue, a far higher online mix than many rivals, indicating the success of its omnichannel approach. The challenge going forward will be continuing to grow online sales without undermining the in-store experience that defines the brand. So far, the company has been deft at using stores as showrooms and community hubs, while letting customers complete purchases however they prefer. Its MMCG online market share of 21% in the category attests that Bass Pro has managed to thrive in the digital space even as it doubles down on experiential physical retail.

Competitors and the Battle for the Outdoors

Bass Pro Shops does not operate in a vacuum. It faces a range of competitors, each with different strengths:

• Dick’s Sporting Goods: The nation’s largest sporting goods chain (730+ stores), Dick’s is a more general sports retailer – you’ll find running shoes, basketballs and golf clubs at Dick’s, products largely absent from Bass Pro’s hunting/fishing-focused stores. In recent years, Dick’s has aggressively pushed into athleisure apparel and trendy fitness brands, capitalizing on the fashion of yoga pants and sneakers as everyday wear. (Sportswear sales have been outpacing traditional apparel by 2–6% annually as athleisure becomes mainstream.) This focus has broadened Dick’s appeal, especially among women and younger athletes. Bass Pro, by contrast, caters to a narrower enthusiast segment. Notably, Dick’s made a decision in 2018 to scale back and eventually remove most hunting guns and gear from its stores – which created an opportunity for Bass Pro and others to capture disaffected hunters, but also signaled Dick’s pivot away from that market. Financially, Dick’s towers over Bass Pro in total sales (~$14 billion a year) and has about three times the market share in the sporting goods store sector. Its superior economies of scale and supplier clout are competitive advantages. However, Bass Pro competes effectively by offering what Dick’s largely cannot: a truly immersive outdoor shopping atmosphere and deep expertise in hunting/fishing categories.

• Academy Sports + Outdoors: Texas-based Academy operates over 250 stores, mainly in Southern states. Like a hybrid of Walmart and Dick’s, Academy sells a broad array of sports gear, apparel and outdoor equipment, often at value prices. It doesn’t create elaborate in-store experiences – an Academy store is a simpler big-box – but it wins on price and convenience. Academy has about 5% of the sporting goods store market and has been growing by expanding into Midwest markets. Bass Pro and Cabela’s stores in the South often find Academy as a local competitor with a strong following among price-conscious shoppers. That said, Academy’s product mix overlaps only partly (it sells firearms and fishing gear, but also team sports and exercise equipment), and its stores lack the museum-like atmosphere Bass Pro fans seek. In head-to-head competition, Bass Pro tends to position itself as the higher-end, experiential choice, while Academy is the down-to-earth budget option.

• REI (Recreational Equipment, Inc.): Though much smaller in share (roughly 2% of the market), REI is an influential competitor in the outdoor recreation niche. Its 180 stores (and thriving online site) specialize in hiking, camping, climbing and cycling gear, appealing to a more liberal, environmentally-focused customer base – think Patagonia jackets and ultralight tents – compared to Bass Pro’s camo-clad hunters. REI is a consumer co-operative, which helps engender deep loyalty among its members. While Bass Pro leads in hunting and fishing, REI often has the edge in backpacking, trekking and urban outdoor lifestyle segments. There is overlap (both sell kayaks, camping tents, outdoor apparel), and indeed Bass Pro has been expanding its hiking/camping assortment (through Ascend gear, etc.) to compete more directly with REI. Each sees opportunity in the booming outdoor recreation participation numbers. Outdoor Industry Association data show record growth in activities like hiking, camping and fishing since 2020, with over 2 million new participants in each of those “gateway” outdoor activities in recent years. Bass Pro and REI are both vying to capture these newcomers – one offering them guns and bass boats, the other offering trekking poles and mountain bikes.

• Sportsman’s Warehouse and Others: In the outdoor specialty arena, Utah-based Sportsman’s Warehouse is another significant retailer (around 130 stores) that directly competes in hunting, shooting and fishing markets. In fact, Bass Pro’s parent company struck an agreement in late 2020 to acquire Sportsman’s Warehouse, which would have further consolidated the industry – but the deal was called off in 2021 after the FTC raised antitrust concerns, a sign that regulators felt Bass Pro was becoming too dominant in certain regions. Without that merger, Sportsman’s remains a formidable regional player that undercuts Bass Pro on pricing and serves smaller markets with no Bass Pro/Cabela’s presence. Other competitors include farm-and-ranch chains like Fleet Farm or Rural King that carry firearms and outdoor gear alongside feed and hardware, and of course e-commerce giants. Amazon and eBay collectively move huge volumes of sporting goods (from socks to scopes) online, and general big-box retailerslike Walmart and Target capture a chunk of entry-level outdoor gear sales (Walmart, for example, sells fishing tackle and until recently sold firearms in many stores). These mass-market channels exert pricing pressure on commodity items. Bass Pro counters by curating higher-end products, offering service (e.g. free assembly of a bow or scope mounting) and emphasizing the experience and expertise that a warehouse or website can’t easily match.

In summary, Bass Pro Shops sits atop the outdoor specialty segment with few true peers at its scale. It faces robust competition at the margins – especially on price and in the athletic apparel domain – but benefits from a relatively protected core business. Selling a lifestyle as much as merchandise, Bass Pro’s primary “competitors” are arguably shifts in consumer behavior more than any single retailer. Which is why the company keeps a close eye on emerging consumer trends.

Tapping Into (and Adapting to) Consumer Trends

The early 2020s have been a dynamic time for any business tied to recreation and retail, and Bass Pro Shops is riding several waves of consumer interest – while also navigating potential headwinds.

One major tailwind has been the surge in outdoor participation that accompanied the COVID-19 pandemic. Cooped up at home, millions of Americans turned to hiking trails, fishing holes and shooting ranges as safe ways to escape and exercise. Industry surveys show U.S. fishing participation, for instance, hit all-time highs – the share of Americans who go fishing rose to roughly 16% by 2024 (up from 10% a decade earlier). Camping and hiking saw similar jumps across diverse demographics, including significant growth among seniors, youth, and urban residents trying outdoor activities for the first time. All of this translated into booming demand for gear: kayaks, fishing rods, tents, coolers, bicycles – categories where Bass Pro and Cabela’s are key purveyors. The company experienced a sales windfall in 2020–2021 as customers emptied shelves of everything from hiking boots to handgun ammunition.

Indeed, firearm sales were a standout. Political and social uncertainties during the pandemic year fueled a gun-buying spree in the U.S. – and as one of the nation’s largest gun retailers, Bass Pro benefited greatly. The FBI’s background check system processed a record 39.7 million firearm background checks in 2020 (up from 28.4 million in 2019), a rough barometer of gun purchases that indicates tens of millions of guns sold. Bass Pro’s Cabela’s stores, known for their expansive firearms departments, saw lines of customers for guns and ammo. First-time gun owners, including many women and minorities, became a growing customer segment. While that spike has since cooled (background checks and gun sales have receded from their 2020 peak), it expanded Bass Pro’s customer base and likely boosted ancillary sales (those buyers also need safes, targets, cleaning kits, etc.). The company’s challenge will be retaining these new customers with training classes, shooting events and continuous engagement, as ammunition shortages have at times frustrated shooters and broader societal debates over guns remain heated.

At the same time, fashion and fitness trends are shifting the sporting goods landscape in ways Bass Pro must respond to. The rise of athleisure apparel – where casual clothing merges with athletic wear – has been a defining retail trend of the past decade. By 2025, the majority of Gen Z and Millennial consumers report wearing athletic-inspired outfits as everyday clothes, not just for workouts. This has fueled explosive growth for brands like Lululemon and Nike, and boosted retailers that emphasize apparel. While Bass Pro’s core apparel is more utilitarian (camo jackets, fishing vests, flannel shirts), it has taken steps to tap into the broader casual outdoor style trend. Its Natural Reflections line, for example, offers women’s casual wear with an outdoor flair, and RedHead has expanded beyond hunting gear into ranch-inspired everyday apparel. Still, Bass Pro faces stiff competition from mainstream retailers in the fight for consumers’ clothing budgets. Dick’s Sporting Goods, for one, has aggressively grown its women’s and lifestyle apparel business, something Bass Pro will likely never mirror given its brand positioning. Instead, Bass Pro leans into the authenticity of its clothing – marketing it as “built for the field” rather than for the runway – hoping the function and legacy of brands like RedHead (billed as apparel for those who “appreciate the virtue of hard work”) resonate with its customer base.

Another trend Bass Pro is uniquely positioned to capitalize on is Americans’ renewed interest in self-reliance and sustainable living. Activities like hunting, fishing, foraging and homesteading saw increased participation as some consumers sought to source their own food or escape modern stresses. Bass Pro’s product mix – firearms, fishing tackle, archery, canoes, dehydrators, meat processing equipment – reads like an outfitter for the self-sufficient lifestyle. The company actively encourages this narrative, sponsoring programs to introduce city dwellers to fishing and advocating for conservation so that game and fish populations thrive. If hunting license sales and fishing permits remain strong with younger generations, Bass Pro will be a key beneficiary. However, there’s a known concern in the conservation community about declining hunting participation over the long term as older hunters age out and fewer young people take up the sport. Bass Pro is part of efforts to recruit new hunters (partnering with groups like the National Wild Turkey Federation and Ducks Unlimited) – not just for altruistic reasons, but because its future revenues depend on a pipeline of new outdoor enthusiasts replacing the old. The company’s conservation initiatives and family-friendly in-store events (like kids’ fishing ponds and seasonal festivals) serve to nurture that next generation of outdoor lovers.

Finally, the macro-economic climate cannot be ignored. As a retailer of discretionary goods, Bass Pro is sensitive to factors like consumer confidence, gas prices (many of its customers drive long distances to stores or tow boats/RVs), and inflation in product costs. The recent inflationary environment has seen prices of outdoor gear rise – for example, boats, grills and electronics have become pricier – which could dampen consumers’ willingness to splurge on big-ticket items. Thus far, demand has held up, aided by the high savings rates and stimulus of the pandemic period, but a tighter economy could test Bass Pro’s ability to keep people opening their wallets for “fun” purchases. On the flip side, if international travel remains complicated or expensive, Americans might continue opting for domestic road trips, camping vacations and backyard recreation, all of which drive sales of Bass Pro’s merchandise. The company appears cognizant of these swings, often touting the message that outdoor recreation is an affordable, accessible joy in hard times. “We make our own good times,” a recent Bass Pro ad proclaimed, showing families fishing together at a local pond.

The Pyramid: A Case Study in Retail Reinvention

One cannot discuss Bass Pro Shops’ unique approach to retail without marveling at its most iconic store of all: the Memphis Pyramid. Once a sports arena that hosted basketball games and rock concerts, the 32-story Pyramid sat vacant on the banks of the Mississippi River for years – a glittering Memphis landmark in search of purpose. Bass Pro Shops, ever the opportunist in creating destination retail, struck a deal with the city to transform this idle architectural wonder into a one-of-a-kind outdoor megastore. In 2015, after extensive renovations, the Bass Pro Shops at the Pyramid opened its doors and promptly became a retail tourism sensation. Over 3 million people visited Bass Pro Shops at the Pyramid in its first year (2015), far exceeding projections. Locals and out-of-towners alike were drawn by curiosity to see what was inside this massive glass pyramid emblazoned with a giant Bass Pro Shops logo visible from miles away.

They were not disappointed. The interior is a jaw-dropping spectacle that epitomizes Bass Pro’s experiential ethos. Visitors step inside to find a cypress swamp spanning the ground floor – complete with 100-foot tall replica trees draped in Spanish moss, alligator ponds, and a habitat for ducks and turtles. Wooden fishing cabins and store facades rise along a faux shoreline, as if in a misty bayou at twilight. At the Pyramid’s center, an immense cylindrical aquarium teems with giant catfish and gar. Winding pathways lead shoppers through various themed areas: a waterfowling exhibit by Ducks Unlimited (the conservation group’s national Waterfowling Heritage Center is housed here), an archery range, pistol range, and displays of vintage watercraft. Suspended overhead is a network of rope bridges and observation platforms for a bird’s-eye view.

The Pyramid store boasts over 535,000 square feet of retail and attractions – so large that it even contains a 105-room wilderness hotel, the Big Cypress Lodge, built into the upper levels. Hotel guests can book rustic-elegant rooms (some designed like treehouse cabins) with balconies overlooking the indoor swamp scene below. At night, the effect is magical: the Pyramid’s interior lights glow against an artificial night sky background, and one might hear the distant call of frogs amid the merchandise racks. Guests and shoppers alike can ride the country’s tallest free-standing elevator – 28 stories – up to the Pyramid’s apex, where a glass-floored observation deck offers panoramic views of Memphis and the Mississippi River. For those hungry or thirsty after exploring, the Pyramid contains two restaurants (one a floating marina-themed bar, the other a rustic grill) and a bowling alley designed to feel underwater, with ball returns that resemble alligators and fish murals over the pins.

1 Bass Pro DriveMemphis, Tennessee 38105 - Hospitality Rooms

If this sounds over-the-top, that’s because it is – and that’s precisely the point. The Memphis Pyramid has given Bass Pro Shops a flood of free publicity and a steady stream of visitors who might never have set foot in a Bass Pro otherwise. It has become a bona fide tourist attraction for the city. Travel guides list it alongside Graceland and Beale Street as a must-see. Memphians have affectionately nicknamed it the “Fish Pyramid” and joke that it’s the only pyramid in the world where you can buy a compound bow or a bucket of bait. By repurposing an arena into a retail theme park, Bass Pro not only saved an architectural white elephant from demolition but created a powerful symbol of retail reinvention. In an era when brick-and-mortar stores are often pronounced “dead,” Bass Pro turned one into an Egyptian-style monument celebrating American outdoor culture.

From a business perspective, the Pyramid’s performance has been closely watched. Early signs are positive: annual sales at the Pyramid store have been reported in the tens of millions of dollars and growing, and its success in drawing tourists has catalyzed redevelopment in the surrounding downtown area. For Bass Pro, the Pyramid is a shining example of its brand promise – “more than just a store, an experience.” It’s an expensive experiment, to be sure (the company and city poured over $100 million into the project), but one that underscores Bass Pro’s willingness to think big and bold in an attempt to keep retail exciting. As other chains scale down or close up shop, Bass Pro went grand – and in doing so, has solidified a kind of cult status among retail enthusiasts. It’s not every day you see memes on social media about a store, but the Pyramid often pops up as an internet curiosity (“Check out this insane Bass Pro Shops pyramid!”) – effectively serving as viral marketing for the brand.

Challenges and Opportunities on the Horizon

As Bass Pro Shops sails further into the 21st century, it faces a classic SWOT tableau of strengths to leverage and challenges to navigate. On the strengths side, the company has an immensely strong brand in the outdoor space. Generations of hunters and anglers revere Bass Pro and Cabela’s like temples to their hobbies. This brand equity, bolstered by Johnny Morris’s personal credibility as a conservationist, is not easily replicated by competitors. Bass Pro also enjoys a high degree of vertical integration: through its White River Marine Group subsidiary, it owns leading boat manufacturers (Tracker, Nitro, Ranger, etc.) and can sell those boats exclusively through its own channels. This control over product supply (from manufacturing to retail) can yield pricing advantages and insulation from supply chain swings. Additionally, Bass Pro’s diversification within the outdoor sector – covering hunting, fishing, camping, marine, apparel, resort lodging and more – means it can weather dips in one category by leaning on another. For example, when firearm sales cooled off in 2022, the boating and camping categories helped pick up slack as Americans hit the road for vacations.

The company’s weaknesses largely stem from the flip side of its niche focus and experiential model. One issue is a limited addressable market: not everyone is an outdoor enthusiast, and among those who are, not all live close enough to a Bass Pro or Cabela’s store to be regular patrons. The retailer has to keep expanding its reach online to avoid saturating its core customer base. Moreover, the big-box format and mega-store footprint come with high operating costs – massive buildings to maintain, elaborate decor to upkeep (those aquariums need tending, the taxidermy needs dusting), and a large staff of expert outfitters to pay. In an economic downturn, these costs can become burdensome if sales dip. Bass Pro’s private ownership means it doesn’t face Wall Street pressure quarter-to-quarter, but it also means raising capital for new ventures or improvements relies on internal finances (or debt) rather than equity markets. Another oft-cited weakness is Bass Pro’s heavy reliance on hunting and shooting, categories that carry social and regulatory risk. Firearms sales can evaporate if laws change or if public sentiment swings strongly (the company faced some backlash after high-profile mass shootings, though it has generally avoided the political fray that ensnared Dick’s after 2018). Likewise, if hunting participation declines significantly over time, Bass Pro’s core customer cohort could shrink – a slow-burning threat that the company is actively trying to counter by recruiting new hunters and anglers.

Looking at opportunities, Bass Pro Shops has plenty of runway to innovate. One clear avenue is to continue enhancing its omnichannel integration – finding new ways to tie the online and in-store experiences together. The company could invest more in technology like augmented reality shopping (imagine using a phone app to see how a fish finder would look installed on your boat) or in-store digital kiosks that let shoppers order items not in stock for home delivery. There’s also room for Bass Pro to expand its community-building efforts: more workshops, local conservation projects, adventure travel packages (leveraging its Big Cedar Lodge and resort properties) to deepen engagement with customers beyond transactions. International expansion is another opportunity – while Bass Pro has mostly stuck to North America, there is rising interest in outdoor sports globally (for instance, Europe’s hunting/fishing retail scene is fragmented and could be a target in the future).

Perhaps the most intriguing opportunity is for Bass Pro to serve as a leader in experiential retail across industries. Its success suggests that people will flock to stores that offer entertainment and education, not just goods. Could Bass Pro export its know-how to other retail sectors as a consultant or partner? That’s speculation, but what is clear is that Bass Pro’s model positions it well in a post-pandemic world where consumers crave experiences after so much screen time. With many shopping malls struggling, Bass Pro’s stores often anchor lifestyle centers and can drive traffic to neighboring businesses; municipalities might court Bass Pro as an anchor for redevelopment (just as Memphis did). This gives the company bargaining power to secure favorable leases or public support when opening new destinations.

As for threats, beyond the economic and demographic factors already mentioned, a key external threat is the unrelenting competition from e-commerce giants. Amazon can’t replicate Bass Pro’s in-store experience, but it can offer two-day delivery on thousands of outdoor products, often at lower prices. The convenience factor is a constant threat that Bass Pro must counter by making the shopping journey at its own sites and stores as enjoyable and friction-free as possible. Another threat is the potential saturation or fatigue of the experience itself – if every retailer tries to be “an experience,” at what point do consumers tire of faux amusement parks in lieu of efficient shopping? Bass Pro has to ensure its experiences remain authentic and not gimmicky, preserving the credibility it has with true outdoorsmen and women. The company also has to manage practical concerns like inventory (supply chain disruptions during COVID left some ammo shelves bare) and maintain a nimble product mix in tune with trends (for instance, the rise of crossbows for hunting or the recent interest in overlanding – off-road vehicular camping – which Bass Pro now caters to with vehicle tents and accessories).

In many ways, Bass Pro Shops stands as a bellwether for physical retail’s future. It has proven that big stores can still thrive if they offer something that online cannot – community, expertise, ambiance, and the excitement of the unexpected. A generation ago, outdoor retail was a sleepy niche; Bass Pro helped turn it into big business by understanding that the selling of gear can be inseparable from the selling of inspiration. Whether it’s a father and daughter marveling at fish in a giant tank, or a seasoned angler chatting with an associate about the best local lures, these are interactions Bass Pro cultivates that simply have no analog in a digital-only model.

As the company moves ahead, it will likely continue to refine this balance of experience and efficiency, tradition and innovation. Johnny Morris, now in his mid-70s, has begun to entrust more day-to-day operations to a new generation of leaders (recent years saw some longtime Cabela’s executives and family members assume roles in the combined company’s management). Yet his philosophy remains the guiding star. Under a mounted largemouth bass in Bass Pro’s headquarters is inscribed one of Morris’s favorite sayings: “All you need to do is just get people to take a step into the great outdoors. From there, the magic of nature will do the rest.” Bass Pro Shops has built a retail empire on that very premise – enticing people to step inside its doors with the promise of adventure, and trusting that the wonder of the experience will keep them coming back. So far, it’s a strategy that has reeled in millions, like fish on a line, and shows few signs of slowing down in this ever-evolving retail ecosystem.

February 1, 2026, by a collective of authors at MMCG Invest, LLC, a hotel and hospitality feasibility study consultant

Sources:

• Bass Pro Shops press kit / company boilerplate (high-level positioning, “destination” framing, traffic claims, background).

• Founder background (official bio) for timeline-style narration and quotes about origins.

• White River Marine Group press kit (official) for the boat/off-road manufacturing portfolio and how it connects to retail (vertical integration).

• White River Marine Group corporate brand list (official site) as a second confirmation of WRMG’s scope.

• Associated Press on completion of the Cabela's acquisition (transaction completion, broad terms, local impacts).

• Fortune recap (deal framing + credit-card divestiture context; useful narrative support).

• Federal Trade Commission press release on the terminated Sportsman’s deal (authoritative for regulatory posture + market-structure language).

• Reuters on termination of the Sportsman’s Warehouse merger (clean, widely citable summary).

• Bass Pro Shops’ official Memphis store page for the 535,000 sq. ft. figure and feature list (best single source to cite for the store’s claimed scale).

• Big Cypress Lodge official site for the 103-room count and positioning as a hotel overlooking the store.

• Big Cypress “Sky High Ride & Observation Deck” for the “tallest free-standing elevator” language, 28 stories / ~300 feet framing.

• Big Cypress pages for specific attractions (good for precise description without relying on travel blogs):

  • Fishbowl bowling concept page.

  • Pistol range details.

  • Archery range details.

• Ducks Unlimited: “Welcome” page noting the Waterfowling Heritage Center and opening date inside the Pyramid.

• DU’s Waterfowling Heritage Center page for hours/program framing and institutional description.

• Shelby County archived staff report (PDF) describing the concept plan and redevelopment scope around the Pyramid site

• Local TV reporting on the lease becoming public

• Alt-weekly longform on the Pyramid deal (color + political texture; treat as secondary).

• Memphis Travel overview page

• Bass Pro / Cabela’s announcement on extending the CLUB credit-card program with Capital One.

• Capital One announcement tied to the Cabela’s card relationship (helpful for deal-era financial plumbing).

• Bass Pro Shops and Cabela’s Outdoor Fund page (501(c)(3) status + “97 cents of every dollar”)

• ProPublica Nonprofit Explorer for IRS Form 990s of the Outdoor Fund (hard numbers: revenue, grants, governance).

• ProPublica “full filing” view for narrative language in Schedule O / mission statement and supporting schedules.

• Third-party nonprofit/community partners citing specific grants/commitments (good for localized examples):

  • Florida Fish and Wildlife Conservation Commission item referencing a combined donation/grant.

  • Trout Unlimited piece referencing the Outdoor Fund structure and project cadence (use as secondary, but credible NGO).

  • Ducks Unlimited announcement of a new Bass Pro commitment (specific dollars + acreage claim).

• U.S. Bureau of Economic Analysis Outdoor Recreation Satellite Account (GDP / value-add framing for “why this category matters”).

• U.S. Fish and Wildlife Service National Survey of Fishing, Hunting & Wildlife-Associated Recreation (2022 PDF + program page) (participation + spending; highest-quality public source).

• Outdoor Industry Association participation trends (headline participation rates and demographic shifts; great for a “who’s coming into the category” section).

• Fishing participation “Special Report” ecosystem

  • RBFF/ASA “Special Report on Fishing” PDFs (participation, churn, frequency).

  • National Marine Manufacturers Association press release summarizing record participation (clean quotable headline stats).

• Federal Reserve Bank of St. Louis / U.S. Census Bureau retail sales time series for “category tailwinds/headwinds” (sporting goods retail sales trends).

• Dick's Sporting Goods Form 10‑K (experiential store strategy, omnichannel fulfillment, store formats).

• Academy Sports + Outdoors Form 10‑K (store base, category mix, expansion strategy).

• Sportsman's Warehouse annual report / Form 10‑K (category mix—hunting & shooting exposure is usually explicit).

• Securities and Exchange Commission is the umbrella repository for these filings (if you want to cite the authoritative host rather than issuer PDFs).

• McKinse & Company “Sporting Goods 2024” report PDF (industrywide themes: inventories, growth pockets, consumer behavior).

• The Wall Street Journal feature on Dick’s experiential megastores (useful contrast: Bass Pro as early exemplar vs peers “catching up”).