The Basketball Merchandise Market in Jordan is seeing minimal growth due to factors such as the populations low purchasing power and limited variety of products. The slow growth rate is also impacted by the lack of interest in basketball merchandise among the countrys consumers.
Customer preferences: As the popularity of basketball continues to rise in Jordan, so does the demand for high-quality basketball merchandise. With the emergence of social media influencers and the rise of streetwear culture, consumers are increasingly seeking trendy and fashionable basketball apparel and accessories. Coupled with a younger generation that is more tech-savvy and social media-driven, there is a growing demand for online shopping, leading to the rise of e-commerce platforms specializing in basketball merchandise. This shift towards online purchasing is also influenced by a cultural preference for convenience and time-saving, as well as the increasing availability of affordable and fast shipping options.
Trends in the market: In Jordan, the Basketball Merchandise Market is seeing a surge in demand for authentic and exclusive team merchandise, indicating a strong fan base and growing market potential. This trend is expected to continue as the countrys basketball league gains international recognition and Jordanian players gain prominence. With the rise of e-commerce and social media influencers, there is a growing trend of personalized and customized basketball merchandise. This presents opportunities for stakeholders to tap into this market through partnerships and collaborations with popular brands and athletes, as well as leveraging social media to target and engage with consumers. Additionally, the emergence of sustainable and eco-friendly merchandise is also becoming more important for environmentally conscious consumers. These trends signify the potential for growth and innovation in the basketball merchandise market, and industry stakeholders should closely monitor and adapt to these trends to stay competitive in the market.
Local special circumstances: In Jordan, the Basketball Merchandise Market is heavily influenced by the countrys strong passion for the sport of basketball. The market is also shaped by the countrys unique geographical location in the heart of the Middle East, making it a prime location for international basketball tournaments and events. Additionally, cultural traditions and values, such as the importance placed on physical activity and teamwork, play a significant role in shaping consumer preferences for basketball merchandise. The regulatory environment also plays a role in the market, with strict regulations on the import and sale of certain types of merchandise. All of these factors contribute to the dynamic and unique nature of the Basketball Merchandise Market in Jordan.
Underlying macroeconomic factors: The Basketball Merchandise Market of the Basketball Market within the Sports Market is greatly affected by macroeconomic factors such as consumer spending, economic stability, and government policies. A stable economy and favorable regulatory environment contribute to market growth, while economic downturns and tight fiscal policies may lead to decreased demand for basketball merchandise. In addition, the basketball market is highly influenced by the performance of professional teams and players, which is often tied to the overall economic health of a country. As such, global economic trends, national economic health, and fiscal policies play a significant role in shaping the demand for basketball merchandise.
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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