As the Sports market in Mexico continues to grow, the basketball sub-market has seen significant growth in recent years. Factors such as increasing popularity of basketball media, growing demand for merchandise, and the availability of tickets online have all contributed to this trend. However, the overall growth rate for the basketball market in Mexico remains negligible due to various economic and social factors impacting consumer spending. This slow growth can be attributed to low consumer confidence, limited disposable income, and competition from other Sports markets.
Customer preferences: As Mexican consumers become more health-conscious, there has been a noticeable increase in demand for structured sports and fitness programs, particularly in the basketball market. This trend is being driven by the growing middle class and an increased focus on physical fitness and wellness as part of a healthy lifestyle. Additionally, with advancements in technology and social media, there has been a rise in popularity of online training programs and virtual coaching, providing convenient and accessible options for individuals looking to improve their basketball skills.
Trends in the market: In Mexico, the Basketball Market is experiencing a rise in popularity, with an increasing number of young players being recruited by professional teams. This trend is significant as it not only highlights the abundance of talent in the country, but also reflects the growing interest in basketball among Mexican consumers. This trend is expected to continue its upward trajectory, with more investment in infrastructure and grassroots development programs. This could potentially lead to increased competition within the market, as well as opportunities for stakeholders to tap into the growing fan base. Additionally, with Mexico hosting NBA games in recent years, there is potential for the country to become a key market for international basketball events, providing further opportunities for industry stakeholders.
Local special circumstances: In Mexico, the Basketball Market has flourished due to the deep cultural roots of the sport in the country. The passion for basketball has been passed down through generations, with local leagues and street courts serving as crucial developmental platforms. Furthermore, the countrys proximity and strong ties to the United States have also contributed to the popularity of the sport, resulting in the emergence of international tournaments and professional leagues within Mexico. Additionally, with the recent push for economic growth and development in the market, there has been an increased focus on investing in and promoting the sport at both the grassroots and professional levels.
Underlying macroeconomic factors: The Basketball Market within the Sports Market in Mexico is heavily impacted by macroeconomic factors such as economic stability, government spending on sports, and the overall health of the national economy. An economically stable country with strong government support for sports programs will likely experience growth in the demand for basketball, both as a form of entertainment and a participation sport. Additionally, trends in global economic conditions and international trade agreements can also affect the availability and affordability of equipment and merchandise, ultimately impacting the overall growth of the market. Furthermore, fiscal policies, such as taxes and tariffs, can also play a significant role in the pricing and accessibility of products and services within the Basketball Market, which can shape consumer behavior and ultimately influence market performance.
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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