The Sports Market in Africa, particularly in the sub-markets of Soccer Media, Merchandise, and Ticket Sales, has seen modest growth due to factors like limited infrastructure, lower incomes, and lack of digital adoption. However, rising awareness and increasing investments in the soccer industry could lead to further growth in the future. Additionally, the convenience of online platforms and mobile technologies could contribute to the overall growth of the Soccer Market in Africa.
Customer preferences: As the popularity of soccer continues to grow in Africa, so does the demand for authentic team merchandise and apparel. Fanatics and other online retailers have capitalized on this trend by offering a wide range of products to cater to diverse cultural preferences. Consumers are now more likely to purchase team merchandise that reflects their unique identity and cultural heritage. As social media platforms become more ingrained in daily life, soccer fans are also using these platforms to discover and purchase products, leading to a rise in social commerce within the soccer market.
Trends in the market: In Africa, there is a growing trend of digitalization in the soccer market, with the rise of online streaming services and social media engagement. This trajectory is significant as it allows for a wider reach and engagement with audiences, creating new revenue streams for industry stakeholders. Additionally, it enables the development of talent in otherwise underrepresented regions. However, there are potential implications for traditional TV broadcasters and networks, as well as the need to address issues such as access to reliable internet and piracy.
Local special circumstances: In Africa, the Soccer Market is heavily influenced by cultural and geographical factors. The continents love for the sport is deeply ingrained in its diverse cultures, leading to a wide fan base and demand for soccer-related products and services. Additionally, the lack of developed infrastructure in many African countries has resulted in a reliance on local grassroots initiatives, leading to a strong community-driven approach to the market. This presents unique opportunities and challenges for businesses in the Soccer Market, as they must navigate a market heavily influenced by local cultural norms and dynamics.
Underlying macroeconomic factors:
The Soccer Market within the Sports Market in Africa is greatly impacted by macroeconomic factors such as the national economic health and fiscal policies of the host country. For instance, countries with stable and growing economies are likely to have a larger consumer base with higher disposable incomes, leading to increased demand for soccer-related products and services. Furthermore, favorable government policies and investments in infrastructure, such as stadiums and training facilities, can also drive market growth. On the other hand, countries with economic instability and weak fiscal policies may experience a decline in the soccer market, as consumers have less purchasing power and organizations have limited resources for investments. Overall, the economic health of the country plays a crucial role in shaping the success of the Soccer Market within the Sports Market in Africa.
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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