The Sports market in Ivory Coast, specifically basketball, has seen stagnant growth due to various factors. While digital technologies and online services have been widely adopted in other markets, they have not yet gained much traction in the basketball market. Additionally, low consumer awareness and limited availability of merchandising and ticket sales also contribute to the slow growth rate.
Customer preferences: The growing popularity of basketball in Ivory Coast has led to an increase in consumer preferences for high-quality sports equipment and apparel. This trend is driven by the rise of streetwear culture, with many young basketball fans wanting to show off their style on and off the court. As a result, there has been a growing demand for fashionable and durable basketball shoes, jerseys, and accessories. Additionally, there has been a shift towards sustainable and eco-friendly products, reflecting a growing awareness and concern for the environment among consumers.
Trends in the market: In Ivory Coast, the Basketball market is experiencing rapid growth, with an increase in the number of young players participating in the sport. This can be attributed to the countrys strong investment in grassroots basketball initiatives and the rise of local leagues. In addition, there is a growing trend of using social media platforms for promoting basketball and players, opening up new opportunities for sponsorships and endorsements. These trends highlight the immense potential of the basketball market in Ivory Coast, and industry stakeholders should take advantage of them by investing in talent development and leveraging social media for brand building.
Local special circumstances: In Ivory Coast, basketball is the most popular sport and has a significant cultural influence. The country has a strong basketball infrastructure, with many local leagues and teams, and a growing number of tournaments and events. Additionally, the government has made efforts to promote and support the sport, leading to its popularity among the youth population. This unique local support and enthusiasm for basketball has contributed to the growth of the sport within the overall Sports market in Ivory Coast.
Underlying macroeconomic factors: The performance of the Basketball Market within the Sports Market in Ivory Coast is heavily influenced by macroeconomic factors such as the countrys GDP growth, inflation rates, and government policies. A stable economy and favorable fiscal policies can attract private investments and encourage consumer spending on sports-related activities, leading to a growth in the market. On the other hand, economic downturns and high inflation rates can result in reduced disposable income and a decline in consumer purchasing power, thus negatively impacting the demand for basketball products and services. Moreover, the level of infrastructure development, particularly in terms of sports facilities and marketing platforms, also plays a significant role in the growth of the basketball market. Countries with well-established infrastructure tend to attract more investments and generate higher revenues in the Sports market, including the basketball sector.
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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