The Sports Market in Egypt has seen a slow growth rate in the Basketball Market, possibly influenced by factors such as limited media coverage, lack of availability and variety of merchandise, and high ticket prices. These challenges may hinder the markets potential for growth, despite the increasing popularity and interest in basketball among consumers in the region.
Customer preferences:
With the growing popularity of basketball in Egypt, there has been a shift in consumer preferences towards sustainable and ethical sports products. This trend is driven by a growing concern for the environment and a desire to support ethical and socially responsible brands. Additionally, there is an increasing demand for inclusive product offerings, catering to diverse body types and genders within the basketball community. As a result, brands are now focusing on utilizing sustainable materials and promoting diversity and inclusivity in their marketing strategies.
Trends in the market: In Egypt, the basketball market is seeing a surge in popularity with the rise of social media influencers and digital marketing strategies. This trend is significant as it allows for greater reach and engagement with younger audiences, who are the primary consumers of basketball products and merchandise. Furthermore, the use of online platforms such as livestreaming and e-commerce has increased the accessibility and visibility of the basketball market. This trend is likely to continue, with implications for industry stakeholders such as brands and retailers who will need to adapt their marketing and distribution strategies to capitalize on this trend.
Local special circumstances:
In Egypt, the Basketball Market is heavily influenced by the countrys rich history and culture of sports. The popularity of basketball can be traced back to its early introduction by American missionaries and the Cairo American College. Additionally, Egypts geographical location and warm climate make outdoor basketball courts a common sight, facilitating an active and vibrant basketball community. Furthermore, the countrys government has implemented various initiatives to promote the sport and develop talented players, resulting in a thriving local league and consistent representation in international competitions. These factors contribute to a unique and dynamic basketball market in Egypt, setting it apart from other markets in the sports industry.
Underlying macroeconomic factors: In Egypt, the Basketball Market within the Sports Market is influenced by macroeconomic factors such as the countrys economic growth, political stability, and government policies. As the country continues to experience strong economic growth and stability, the demand for sports and entertainment, including basketball, is expected to rise. Additionally, government initiatives to promote sports and increase investment in infrastructure for sporting events and facilities are contributing to the expansion of the basketball market. Furthermore, Egypts young and growing population, coupled with a high interest in sports and physical activities, presents a lucrative market for basketball. However, economic challenges, such as inflation and currency fluctuations, could potentially hinder market growth.
Data coverage:
The data encompasses B2C and B2B revenues. Figures are based on media spending, merchandise spending, and ticket spending. All monetary figures for merchandise and tickets refer to consumer spending on goods or tickets 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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