The Soccer Market in Croatia has seen a moderate growth rate, influenced by factors such as increasing interest in digital media for soccer, higher consumer spending on soccer merchandise, and the convenience of online ticket sales. However, challenges such as competition from other sports and limited consumer purchasing power may hinder further growth in this market.
Customer preferences: Consumers in Croatia have shown a growing interest in personalized and immersive experiences in the Soccer Market. As a result, there has been a rise in demand for virtual and augmented reality technologies, as well as interactive fan experiences at live games. Additionally, there is a trend towards sustainable and eco-friendly options in the sports industry, with consumers prioritizing environmentally responsible products and services offered by soccer teams and leagues. This is reflective of the countrys growing focus on sustainability and environmental awareness.
Trends in the market:
In Croatia, the Soccer Market within the Sports Market is experiencing a trend towards more digital engagement, with an increase in online ticket sales, live streaming of games, and social media interactions between fans and teams. This trend is driven by the rise of technology and the demand for convenience and accessibility among consumers. It is also significant for industry stakeholders as it presents new opportunities for revenue generation and brand exposure. However, this trend also brings potential concerns, such as piracy of live streams and the need for updated security measures. As such, stakeholders need to stay up-to-date with technological advancements and adapt their strategies accordingly. Additionally, this trend also highlights the importance of creating a strong online presence for teams in order to stay competitive in the market.
Local special circumstances: In Croatia, the Soccer Market is heavily influenced by the countrys rich history and love for the sport. The fiercely loyal fan base and deep-seated rivalries between local clubs create a unique competitive atmosphere, attracting a fervent following and significant sponsorship opportunities. Additionally, favorable weather conditions and a strong tourism industry contribute to the success of the market, with international teams often choosing to train and play matches in the country. The governments active support and investment in sports also play a significant role in propelling the growth of the Soccer Market in Croatia.
Underlying macroeconomic factors: The Soccer Market within the Sports Market market in Croatia is heavily influenced by macroeconomic factors such as the countrys GDP growth, unemployment rates, and government policies. A strong economy with low unemployment rates and stable fiscal policies can lead to increased consumer spending on soccer-related products and services. Additionally, Croatias membership in the European Union and its access to the larger European market can also impact the growth of the Soccer Market. Moreover, the popularity of soccer as a sport and its cultural significance in Croatia have a significant influence on the markets performance. The market is also affected by global economic trends, such as the rise of e-commerce and the impact of international events, such as the World Cup, on consumer behavior.
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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