The Basketball Merchandise Market in CIS has seen minimal growth, influenced by factors such as limited awareness among consumers and slow digital adoption. The markets growth rate has been impacted by these challenges.
Customer preferences: E-commerce platforms have become the go-to destination for basketball enthusiasts, as they offer a wide range of merchandise at competitive prices. With the rise of social media and influencer marketing, fans are increasingly drawn to limited edition and personalized items, showcasing their loyalty to their favorite teams and players. Moreover, the growing demand for eco-friendly and sustainable products has prompted companies to innovate and offer environment-friendly options in their merchandise line, catering to the changing values and preferences of consumers.
Trends in the market: In the CIS, the Basketball Merchandise market is experiencing a surge in online shopping, with retailers offering a wider range of products and exclusive deals. In addition, the use of virtual reality technology is gaining popularity, allowing fans to virtually experience games and interact with players. This trend is significant as it targets younger and tech-savvy consumers, expanding the reach and appeal of the market. However, it may also pose challenges for traditional brick-and-mortar retailers. For stakeholders, this highlights the need to prioritize digital strategies and engage with fans through innovative channels.
Local special circumstances: In the CIS region, the Basketball Merchandise Market is influenced by the strong culture of basketball fandom and the popularity of the sport. The harsh climates in many CIS countries also play a role in the demand for durable and weather-resistant merchandise. Additionally, certain governmental regulations and trade policies in the region can impact the availability and pricing of basketball merchandise, creating unique challenges and opportunities for both local and international brands.
Underlying macroeconomic factors: The growth of the Basketball Merchandise Market is also influenced by macroeconomic factors such as consumer spending, economic prosperity, and trade regulations. Countries with high levels of discretionary income and a robust economy typically experience a strong demand for sports merchandise, thus driving market growth. Additionally, favorable trade policies and ease of import and export can also impact the availability and affordability of basketball merchandise, further influencing market performance.
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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