The MENA basketball merchandise market is seeing slow growth due to factors such as low demand and market saturation. Despite this, the convenience of online shopping and increasing consumer awareness continue to drive some growth in the regions Sports market.
Customer preferences: In the Basketball Merchandise Market, there has been a noticeable increase in demand for personalized and customizable basketball products, catering to the growing trend of self-expression and individuality among consumers. With the rise of social media influence and celebrity endorsements, consumers are now more likely to purchase merchandise that aligns with their favorite players or teams. This has also led to an increase in the use of eco-friendly and sustainable materials in the production of basketball merchandise, as consumers become more environmentally conscious in their purchasing decisions.
Trends in the market: In the MENA region, there has been a notable increase in the popularity of basketball due to the success of local teams and the presence of global basketball stars. As a result, the demand for basketball merchandise, such as jerseys, hats, and shoes, has also seen a significant rise. Furthermore, there has been a shift towards online shopping for basketball merchandise, with e-commerce platforms and social media channels being used as the primary channels for purchase. This trend is expected to continue as more consumers turn to online shopping for convenience and a wider selection of products. Industry stakeholders should take advantage of this trend by leveraging digital platforms to target and engage with consumers in the region, while also expanding their product offerings to cater to the growing demand. Failure to adapt to this changing trend may result in missed opportunities for growth in the basketball merchandise market in the MENA region.
Local special circumstances: In the MENA region, the Basketball Merchandise Market within the Sports Market has seen a recent surge in growth due to the rising popularity of basketball in countries such as Lebanon, Jordan, and Saudi Arabia. Factors such as the regions large youth population and the increasing availability of international brands have contributed to this trend. Additionally, cultural factors such as the strong sense of community and pride surrounding the sport have also played a significant role in driving demand for basketball merchandise in the region. Furthermore, the market is heavily influenced by religious and cultural events, such as Ramadan, where sports and basketball in particular, play a significant role.
Underlying macroeconomic factors: The Basketball Merchandise Market of the Basketball Market within the Sports Market is influenced by various macroeconomic factors in the MENA region, including global economic trends, national economic health, and fiscal policies. The regions GDP growth, consumer spending, and unemployment rates impact the markets performance. Additionally, factors such as currency exchange rates, inflation, and government regulations can also affect the demand and supply of basketball merchandise in the market. The rising popularity of basketball and its impact on the sports industry also play a significant role in shaping the MENA regions 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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