The basketball market in Argentina is experiencing slow growth due to various factors, such as limited access to digital technologies in certain regions, low consumer awareness of health benefits in relation to the sport, and the convenience of physical merchandise and in-person ticket sales. However, with the increasing popularity of online platforms for basketball media consumption, this market is expected to see a slight growth in the near future.
Customer preferences: The popularity of basketball in Argentina has led to an increase in demand for digital fitness and training programs. With the rise of social media and influencers, there is a growing trend towards personalized basketball training and workout plans tailored to individual needs. This is also due to the increasing emphasis on maintaining a healthy lifestyle among the younger demographic. Additionally, the use of virtual coaching and online workshops has become more prevalent, providing convenient access to professional basketball training regardless of location.
Trends in the market: In Argentina, the Basketball Market within the Sports Market is experiencing a surge in virtual fan engagement as a result of the COVID-19 pandemic. This trend has led to an increase in online ticket sales, live streaming of games, and digital merchandise sales. Industry professionals predict that this trend will continue to grow even after the pandemic, opening up new revenue streams for stakeholders. Additionally, there is a growing interest in investing in youth basketball programs, highlighting the potential for long-term growth in the market.
Local special circumstances: In Argentina, the Basketball Market benefits from the countrys strong passion and love for the sport. Argentinas rich basketball history and culture, combined with the countrys mild climate and widespread access to outdoor courts, contribute to its thriving basketball community. Additionally, Argentinas government has actively supported the development of the sport through initiatives such as building new sports facilities and promoting community involvement in basketball. This level of government support has led to a highly competitive and organized basketball scene in the country.
Underlying macroeconomic factors: The Basketball Market within the Sports Market in Argentina is greatly influenced by macroeconomic factors such as overall economic stability, government fiscal policies, and global economic trends. As the country continues to experience economic growth and stability, the demand for sports and related industries, including basketball, is expected to increase. Additionally, favorable regulatory environments and investments in infrastructure for sports facilities and training programs can further support the growth of the Basketball Market in Argentina. Furthermore, with the rising popularity of basketball globally, Argentina can benefit from the increasing demand for the sport, attracting investors and sponsors to the market. Overall, a strong economy and supportive government policies can drive the growth of the Basketball Market in Argentina, ultimately contributing to the overall growth of the Sports Market in the country.
Data coverage:
The data encompasses B2C and B2B revenues. Figures are based on media spending, merchandise spending, and ticket spending. All monetary figures for merchandise and tickets refer to consumer spending on goods or tickets in the respective segment, which can be online and offline.Modeling approach / Market size:
Market sizes are determined through a combination of bottom-up and top-down approaches, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per ticket, price on sport goods). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, number of internet users, and internet consumption. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function or linear forecasting, as it fits the development of either strong growing markets or more sophistacted and saturated markets, such as soccer in Europe.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). We also account for the different cycles of international tournaments, such as world cups or continent cups. Consumer Insights data is reweighted for representativeness.
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