The Basketball Merchandise market in Bangladesh has been experiencing sluggish growth due to factors such as low demand, limited consumer awareness, and lack of online options. Despite being a part of the growing Sports market, the growth rate remains negligible.
Customer preferences: The rise of social media and influencer marketing has greatly impacted consumer preferences, with young adults gravitating towards authentic and socially conscious brands. This has led to a demand for sustainable and ethical basketball merchandise, as well as collaborations with popular influencers to reach a wider audience. Additionally, the influx of international players in the Bangladesh Basketball League has brought a cultural exchange and increased interest in merchandise from different teams and players.
Trends in the market: In Bangladesh, the Basketball Merchandise Market is experiencing a rise in e-commerce platforms, with more consumers turning to online shopping for their basketball gear. In addition, there is a growing trend of sports brands partnering with local influencers and athletes to promote their merchandise. This trend is significant as it allows for a wider reach and creates a sense of authenticity for the products. Furthermore, it has potential implications for industry stakeholders as it opens up opportunities for collaborations and partnerships in the Sports market, while also increasing competition. As e-commerce continues to grow in popularity, it is expected that the basketball merchandise market will also see an increase in demand.
Local special circumstances: In Bangladesh, the Basketball Merchandise Market of the Basketball Market within the Sports Market is heavily influenced by the countrys love for the sport and its rich cultural history. Due to the low purchasing power of its population, the market focuses on affordable merchandise options, such as locally made jerseys and shoes. Additionally, the countrys booming e-commerce industry has made it easier for retailers to reach a wider audience, leading to a surge in online sales of basketball merchandise.
Underlying macroeconomic factors: The Basketball Merchandise Market of the Basketball Market within the Sports Market is influenced by macroeconomic factors such as consumer spending power, economic growth, and government policies. Countries with a strong economy and growing middle class, such as China, India, and the US, are seeing a rise in demand for basketball merchandise. Additionally, favorable government policies, such as tax incentives or trade agreements, can have a positive impact on the markets growth. On the other hand, economic downturns and political instability can hinder consumer spending and negatively impact the markets performance. Furthermore, shifts in exchange rates and trade regulations can also affect the availability and prices of basketball merchandise in different regions.
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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