The Cricket market in Zimbabwe has observed a significant decline in growth rate due to the increasing popularity of other sports, lack of investment in infrastructure for cricket, and lower media coverage compared to other sports. However, the rising demand for tickets to live cricket matches and increasing use of digital platforms for cricket media coverage are likely to drive market growth in the near future.
Customer preferences: As the popularity of cricket continues to grow in Zimbabwe, there has been a notable increase in demand for innovative and technologically advanced equipment and gear. Consumers are now looking for options that offer improved performance and comfort, such as cricket bats with customized grips and protective gear with moisture-wicking fabric. This trend highlights the importance of catering to the evolving needs and preferences of consumers in the cricket market, particularly those influenced by the growing adoption of digital solutions and technologies in sports.
Trends in the market: In Zimbabwe, the Cricket Market within the Sports Market is seeing a surge in popularity, as the national cricket team has recently shown considerable success in international competitions. This trend is expected to continue, with plans for the construction of new cricket stadiums and the introduction of coaching programs for children. The significance of this trend lies in the potential growth of the cricket market in Zimbabwe, attracting more investments and sponsorships. For industry stakeholders, this represents a great opportunity for expansion and revenue generation. Additionally, this trend could also boost the overall sports industry in the country, attracting more interest and participation from the public.
Local special circumstances: In Zimbabwe, cricket holds a significant place in the hearts of the people, with a rich history and passionate fan base. However, the market is hindered by the countrys political and economic instability, which impacts sponsorships and investments. Additionally, the lack of infrastructure and resources is a major challenge, leading to limited training opportunities and hindering the growth of the sport. These unique local factors greatly impact the dynamics of the cricket market in Zimbabwe, making it distinct from other markets in the global sports arena.
Underlying macroeconomic factors: The success of the Cricket Market within the Sports Market in Zimbabwe is heavily influenced by macroeconomic factors such as the countrys economic stability, government policies, and global economic trends. A stable economy and favorable fiscal policies can create a conducive environment for investment, leading to growth and development in the Cricket Market. On the other hand, economic downturns and political instability can negatively affect market performance. Additionally, global economic trends, such as fluctuations in currency exchange rates and trade policies, can impact the demand and supply of cricket goods and services in Zimbabwe.
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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