The Soccer market in the BRICS region is witnessing slow growth, affected by factors such as economic instability, lack of government investment, and declining interest from younger generations. However, the rise of digital technologies, increasing awareness about the sport, and the convenience of online ticket sales and merchandise may lead to future growth. Developing strategies to tap into these sub-markets could boost the overall growth rate.
Customer preferences:
Rapid technological advancements and increased internet penetration have led to a rise in online sports streaming services, offering fans the convenience to watch matches anytime and anywhere. Additionally, there has been a growing preference for experiential and interactive viewing experiences, such as virtual reality and 360-degree videos, among younger demographics. This shift towards digital viewing options is driven by the desire for on-demand and personalized content, catering to the fast-paced lifestyles and preferences of modern consumers.
Trends in the market: In the BRICS countries, the Soccer Market within the Sports Market is experiencing a surge in digital content consumption, with a growing number of fans accessing live games, highlights and player statistics on mobile devices. Additionally, there is a shift towards e-commerce in the soccer industry, with more merchandise sales happening online rather than in physical stores. This trend is expected to continue as consumers become more comfortable with making purchases online and as technology improves to offer a seamless online shopping experience. Industry stakeholders who embrace these digital trends and invest in online platforms and partnerships will likely see increased revenue and brand visibility.
Local special circumstances: One unique factor that differentiates the Soccer Market within the Sports Market in BRICS is the cultural significance of the sport. In countries like Brazil and South Africa, soccer is considered the national sport and has a deeply ingrained fan culture. This has a significant impact on the market dynamics, with high demand for soccer merchandise, and a strong presence of local clubs and leagues. In Russia and China, where soccer is gaining popularity, the market is seeing a rise in investments by local governments and private companies in building infrastructure and developing talent. Moreover, regulatory support for the sport and efforts to promote it at a grassroots level have also contributed to the growth of the soccer market in these countries.
Underlying macroeconomic factors: The Soccer Market within the Sports Market is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. Countries with strong economic growth and stable fiscal policies, such as Brazil and China in the BRICS group, are experiencing faster growth in their soccer markets compared to countries with economic challenges. Additionally, with the increasing global popularity of soccer, the market is also impacted by international trade policies and currency exchange rates. This presents both opportunities and challenges for market growth in the BRICS countries, as they navigate the ever-changing landscape of the global economy.
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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