The Basketball Merchandise Market in Mexico has been seeing minimal growth, influenced by factors such as fluctuating consumer interest and limited availability of affordable merchandise.
Customer preferences:
There has been a noticeable increase in the use of e-commerce platforms for purchasing basketball merchandise, with consumers opting for convenience and ease of access. This trend has been particularly prevalent among younger demographics, who prefer to shop online rather than in physical stores. This shift has also been influenced by the increasing popularity of social media, as it provides a platform for brands to showcase their products and engage with potential customers. Additionally, with the growing influence of sports and celebrity culture in Mexico, there has been a surge in demand for personalized and limited edition basketball merchandise, catering to the unique preferences of consumers.
Trends in the market:
In Mexico, the market for basketball merchandise is experiencing a growth in online sales, as more consumers are shifting towards e-commerce platforms for their purchasing needs. Additionally, there is an increasing demand for sustainable and ethically-made merchandise, driven by the countrys growing environmental consciousness. This trend has led to the introduction of eco-friendly and socially responsible merchandise by major brands in the basketball market. Furthermore, there is a rise in collaborations between sports brands and popular Mexican athletes, which serves as a marketing strategy to attract a wider consumer base. These trends not only reflect the changing consumer preferences in the market but also present new opportunities for industry stakeholders to tap into the growing online market and incorporate sustainability in their operations.
Local special circumstances: In Mexico, the Basketball Merchandise Market is influenced by the countrys strong passion for basketball and its vibrant streetball culture. Additionally, the growth of organized leagues and the success of Mexican players in the NBA have contributed to the markets expansion. The market is also impacted by the countrys thriving tourism industry, which attracts basketball fans and drives merchandise sales. Furthermore, Mexicos unique economic and political landscape, including its strong trade relationship with the US, shapes the markets dynamics and presents opportunities for international collaborations and partnerships.
Underlying macroeconomic factors: The Basketball Merchandise Market of the Basketball Market within the Sports Market is also influenced by macroeconomic factors such as consumer purchasing power, economic development, and consumer confidence. Countries with a growing middle class and stable economic growth are experiencing higher demand for basketball merchandise, while countries with economic instability may experience lower demand. Fiscal policies, such as tariffs and trade agreements, can also impact the availability and cost of basketball merchandise, ultimately influencing market performance. Additionally, the current trend towards athleisure and rise of social media influencers in the sports industry are driving the popularity of basketball merchandise among a wider consumer base, further impacting market growth.
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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