The Basketball Merchandise Market in Kazakhstan has seen slow growth due to factors like low consumer spending and a limited market for basketball merchandise. This markets sluggish growth can be attributed to the overall stagnant growth of the Sports market in the country.
Customer preferences: With the rise of social media and global connectivity, there has been a noticeable increase in the popularity of sports influencers and athletes as brand ambassadors for basketball merchandise. This trend is particularly evident in Kazakhstan, where basketball is a beloved sport. This shift towards influencer marketing has been driven by changing consumer preferences for authentic and relatable content, as well as the increasing importance of social media in shaping consumer behavior. Furthermore, the emergence of e-commerce platforms has made it easier for consumers to access and purchase basketball merchandise, contributing to the growth of the market in Kazakhstan.
Trends in the market: In Kazakhstan, the Basketball Merchandise Market is experiencing a surge in online sales, driven by the increasing popularity of e-commerce platforms among consumers. This trend is expected to continue, with more retailers expanding their online presence and offering a wider variety of basketball merchandise to cater to the growing demand. In addition, there has been a shift towards sustainable and eco-friendly products, with consumers showing a preference for environmentally conscious brands. This presents an opportunity for industry players to tap into the green market and capitalize on this trend. Such developments will not only benefit the business growth of these stakeholders, but also contribute towards the sustainable development of the sports industry in Kazakhstan.
Local special circumstances: In Kazakhstan, the Basketball Merchandise Market of the Basketball Market within the Sports Market has been heavily influenced by the countrys growing interest in the sport. This is due to the increasing popularity of basketball among the younger generation, as well as the governments support for developing the sport. Additionally, the local fashion and cultural trends in Kazakhstan also play a significant role in determining the type of merchandise that is in demand. Furthermore, the countrys geographical location and its close ties with neighboring countries have also impacted the availability of imported basketball merchandise. These factors contribute to the unique dynamics of the Basketball Merchandise Market in Kazakhstan, setting it apart from other markets in the region.
Underlying macroeconomic factors:
The Basketball Merchandise Market in Kazakhstan is heavily influenced by macroeconomic factors such as the countrys overall economic health, consumer purchasing power, trade policies, and foreign investment. As Kazakhstan continues to develop and modernize its economy, the demand for sports and related merchandise is expected to increase. Moreover, with the rising popularity and success of the Kazakhstan national basketball team, there is a growing interest in basketball merchandise among fans. Additionally, global trends in e-commerce and the increasing use of digital platforms for shopping are also expected to impact the market, with a shift towards online purchases. The governments efforts to promote sports and physical activity through various initiatives also play a role in the markets performance. However, challenges such as currency fluctuations and import policies may hinder the growth of the 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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