The Basketball Merchandise Market in BRICS nan is experiencing minimal growth due to various factors, including low consumer spending on sports merchandise and the slow economic growth in the region. Online sales and increasing popularity of the sport may drive future growth.
Customer preferences: As the popularity of basketball continues to grow globally, there is a noticeable shift towards sustainable and eco-friendly merchandise in the Basketball Merchandise Market of the Basketball Market within the Sports Market. This trend is fueled by increasing awareness of environmental issues and a desire to support socially responsible brands. Moreover, consumers are also gravitating towards personalized and unique merchandise options that allow them to express their individual style and fandom.
Trends in the market: In BRICS countries, the Basketball Merchandise Market of the Basketball Market within the Sports Market is seeing a surge in the use of e-commerce platforms for purchasing basketball merchandise. This trend is driven by the growing popularity of online shopping and ease of access to a variety of branded merchandise. Additionally, there is an increasing demand for personalized and customizable merchandise, indicating a shift towards more individualized sports goods. This trend is expected to continue, creating opportunities for industry stakeholders to tap into the expanding e-commerce market.
Local special circumstances: In South Africa, the Basketball Merchandise Market has been impacted by the countrys strong sporting culture and the increasing popularity of basketball among the youth. However, due to the relatively lower purchasing power of the majority of the population, there is a greater demand for affordable merchandise options. Additionally, the countrys growing e-commerce landscape has positively influenced the growth of online basketball merchandise sales. In China, the market is heavily influenced by the governments support for sports development, leading to the creation of a strong domestic market for basketball merchandise. Moreover, the countrys dominance in basketball at the international level has further fueled the demand for licensed merchandise among fans.
Underlying macroeconomic factors:
The growth of the Basketball Merchandise Market within the Sports Market is heavily influenced by macroeconomic factors such as consumer spending power, economic stability, and trade policies. Countries with strong economic growth and a thriving sports industry will likely have a larger market size and more opportunities for growth. Fiscal policies that encourage domestic production and export of merchandise can also drive market expansion. Additionally, global economic trends such as rising disposable incomes and changing consumer preferences towards sports-related products can have a significant impact on the performance of the Basketball Merchandise Market.
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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