The Soccer Market in Serbia is experiencing a minimal growth rate, influenced by factors such as increased use of digital technology, growing interest in health and convenience, as well as the impact of sub-markets such as Soccer Media, Merchandise, and Ticket Sales.
Customer preferences: One notable trend in the Soccer Market within the Sports Market in Serbia is the increasing popularity of eco-friendly and sustainable sports merchandise. With growing awareness about environmental sustainability, consumers are actively seeking products that are ethically made and have a lower carbon footprint. This has led to the emergence of brands offering eco-friendly soccer jerseys, shoes, and accessories made from recycled materials. This trend is driven by the rising demand for sustainable lifestyles and the desire of consumers to reduce their impact on the environment.
Trends in the market: In Serbia, the Soccer Market is experiencing a rise in the use of data analytics in player and team performance analysis. This trend is significant as it allows clubs to make more informed decisions when signing players and developing tactics. Furthermore, the use of virtual and augmented reality technology in training has also increased, providing players with more immersive and interactive training experiences. These trends are expected to continue, with potential implications such as improved player development and increased competitiveness in the global soccer market.
Local special circumstances: In Serbia, the Soccer Market is heavily influenced by the countrys deep passion for the sport and its rich history in producing top players. This is further supported by the strong presence of local fan clubs and the popularity of televised matches. Additionally, the countrys geographical location between Western Europe and Eastern Europe allows for a unique mix of playing styles and draw of international talent. Furthermore, government investment in infrastructure and talent development has propelled the market forward.
Underlying macroeconomic factors:
Another crucial macroeconomic factor shaping the Soccer Market in Serbia is the countrys economic stability and growth. Despite facing challenges such as high unemployment rates and relatively low GDP per capita, Serbia has shown consistent economic growth in the past few years. This has led to an increase in disposable income for individuals, which can positively impact the demand for and spending on sports and related activities such as soccer. Additionally, the governments efforts to improve infrastructure and promote tourism in the country could also drive the growth of the Soccer Market in Serbia. These factors indicate a favorable economic climate for businesses operating in the sports industry in Serbia.
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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