Basketball Merchandise - Thailand

Thailand

Highlights

Revenue in the Basketball Merchandise market is projected to reach US$563.30k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.75%, resulting in a projected market volume of US$614.20k by 2029.
In global comparison, most revenue will be generated United States (US$1.11bn in 2024).
The average revenue per user (ARPU) in the Basketball Merchandise market is projected to amount to US$1.30 in 2024.
In the Basketball Merchandise market, the number of users is expected to amount to 156.5k users by 2029.
User penetration in the Basketball Merchandise market will be at 0.6% in 2024.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Basketball Merchandise Market in Thailand has seen slight growth due to factors such as the increasing popularity of basketball and the convenience of online shopping. However, the growth rate is impacted by the competition from counterfeit products and low spending power of consumers.

Customer preferences: The emergence of basketball as a popular sport in Thailand has led to a growing demand for basketball merchandise among Thai consumers. With the rise of social media and influencer culture, there is a growing trend among young Thais to emulate their favorite basketball players by donning their apparel and sneakers. Moreover, the growing middle class in Thailand has led to an increase in disposable income, allowing consumers to spend more on premium and authentic basketball merchandise. E-commerce platforms have also made it easier for consumers to access and purchase a wide range of basketball merchandise from both local and international brands.

Trends in the market: In Thailand, the demand for basketball merchandise has been on the rise with the increasing popularity of the sport. One of the prominent trends in the market is the inclusion of cultural elements in the design of merchandise, catering to the local fan base. This trend not only reflects the uniqueness of Thai culture, but also creates a sense of inclusivity and connection with the sport. Additionally, with the growing presence of e-commerce platforms, there has been a shift towards online purchase of basketball merchandise. This trend not only provides convenience to buyers, but also opens up opportunities for businesses to reach customers beyond traditional retail stores. Moreover, with the rise of social media platforms, there has been a surge in influencer marketing for basketball merchandise in Thailand, providing a new channel for promoting and advertising products. These emerging trends not only signal a promising growth trajectory for the Basketball Merchandise Market in Thailand, but also present opportunities for businesses to innovate and cater to the diverse preferences of consumers.

Local special circumstances: In Thailand, the Basketball Merchandise Market is heavily influenced by the countrys avid love for the sport. Basketball is not just a hobby, but a major part of the culture, with the Thai national team consistently performing well in international tournaments. This strong fan base drives demand for basketball merchandise, particularly jerseys and team gear. Additionally, Thailands favorable import and export policies for sporting goods allow for a wider selection of merchandise at competitive prices. However, strict government regulations on the sale of counterfeit products also play a role in shaping the market dynamics and ensuring the authenticity of merchandise.

Underlying macroeconomic factors: The Basketball Merchandise Market in Thailand is heavily influenced by macroeconomic factors such as the countrys economic health, consumer spending trends, and government policies. As Thailands economy continues to grow, with a GDP of over $500 billion, there is an increase in disposable income and an overall rise in consumer spending. Additionally, the governments focus on promoting sports and healthy lifestyles has led to increased investment in the basketball market, resulting in a higher demand for basketball merchandise. Furthermore, the rise of the middle class in Thailand has also contributed to the growth of the market, as they have a higher purchasing power and are more likely to invest in sports-related products.

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.