The basketball merchandise market in Africa is seeing slow growth due to various factors like low consumer purchasing power, limited availability of quality products, and lack of awareness about online options.
Customer preferences:
Over the past decade, there has been a significant increase in demand for locally made and ethically sourced basketball merchandise in Africa. This trend is driven by a growing awareness and emphasis on supporting local businesses and promoting sustainability. Additionally, there has been a rise in demand for merchandise that reflects a sense of cultural pride, with consumers showing a preference for products that incorporate traditional African design elements. This shift towards locally made and culturally relevant merchandise signals a changing consumer preference towards products that align with their values and identities.
Trends in the market: In Africa, the Basketball Merchandise Market within the Sports Market is seeing a surge in online sales, with more consumers turning to e-commerce platforms for their purchases. This trend is driven by the rise of smartphone use and internet penetration, particularly in countries like Nigeria and South Africa. As a result, the market is becoming more accessible and convenient for consumers, providing an opportunity for growth in the industry. Additionally, this trend has potential implications for stakeholders such as retailers and manufacturers who may need to adapt their strategies to embrace the shift towards online shopping.
Local special circumstances: In Africa, the Basketball Merchandise Market is influenced by the continents love for the game and its rapidly expanding youth population. Due to limited purchasing power, local brands dominate the market with affordable products. In addition, the continents diverse cultures and traditional games also inform the types of merchandise sold. With varying levels of economic development, there exists a wide range of regulations and tariffs for cross-border trade, affecting the availability and pricing of imported merchandise.
Underlying macroeconomic factors: In Africa, the Basketball Merchandise Market of the Basketball Market within the Sports Market is affected by various macroeconomic factors. One key factor is the economic health of the region, as it impacts the purchasing power of consumers. Favorable economic growth and increased disposable income contribute to higher demand for basketball merchandise. Moreover, regulatory support and investment in sports infrastructure, including basketball facilities, can boost market growth. Additionally, global trends such as the rising popularity of basketball and the increasing adoption of e-commerce platforms also have a significant impact on the market. Finally, the presence of a young and growing population in Africa bodes well for the long-term growth of the Basketball Merchandise Market in the region.
Data coverage:
The data encompasses B2C revenues. Figures are based on merchandise spending. All monetary figures refer to consumer spending on goods 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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