The Soccer market within the Sports Market in Greece has seen slow growth, influenced by factors such as limited digitalization, fluctuating consumer interest, and the rise of alternative forms of entertainment. However, there is still potential for growth, especially in the sub-markets of Soccer Media, Merchandise and Ticket Sales, as the countrys love for the sport remains strong.
Customer preferences: As Greece continues to experience economic recovery, consumer spending in the Soccer Market within the Sports Market has increased. Along with this, there has been a growing demand for high-quality and sustainable sports equipment and apparel. Consumers are increasingly conscious about the environmental impact of their purchases and are seeking out eco-friendly options. This trend highlights the shift towards more sustainable and socially responsible consumption in Greece, influenced by changing cultural values and attitudes towards the environment.
Trends in the market: In Greece, the Soccer Market is experiencing a rise in virtual events due to the ongoing COVID-19 pandemic, with sports organizations and clubs hosting online tournaments and matches to engage with fans. This trend is also reflected in the growing popularity of e-sports in the country. In the broader Sports Market, there is a shift towards innovative technologies, such as virtual and augmented reality, to enhance the fan experience and increase fan engagement. This trajectory is significant as it allows for the diversification and expansion of revenue streams for industry stakeholders. However, it also poses a challenge for traditional sports businesses to adapt and compete in the increasingly digital landscape.
Local special circumstances: In Greece, the Soccer Market is heavily influenced by the countrys long-standing love for the sport. The fan culture in Greece is deeply ingrained, with strong support for local teams and intense rivalries. This creates a passionate and competitive atmosphere, with high demand for match tickets and team merchandise. Additionally, regulations surrounding sponsorship and advertising in the sport are unique, with strict limitations on the promotion of alcohol and gambling companies. These factors greatly shape the way the Soccer Market operates in Greece, making it a unique and dynamic market within the larger global Sports Market.
Underlying macroeconomic factors: The Soccer Market in Greece is largely affected by macroeconomic factors such as the countrys economic stability, consumer purchasing power, and government policies. Global economic trends, such as fluctuations in currency exchange rates and trade agreements, can also impact the market. National economic health, including GDP growth, inflation rates, and unemployment levels, can influence consumer spending on sports, including the purchase of soccer tickets and merchandise. Fiscal policies, such as tax rates and subsidies, can affect the profitability of soccer teams and businesses operating within the market. Other relevant financial indicators, such as interest rates and credit availability, can also impact the overall performance of the Soccer Market in Greece.
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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