The ASEAN Soccer Merchandise Market within the Sports Market has been experiencing minimal growth due to various factors such as limited consumer interest, slow adoption of online platforms, and lack of marketing efforts. This has resulted in a stagnant growth rate for the market.
Customer preferences:
As e-commerce continues to flourish and social media becomes more prevalent in Southeast Asia, the demand for soccer merchandise is increasingly being driven by online channels. This trend is especially prominent in younger demographics, who are more comfortable with the convenience and variety offered by online shopping. To meet this growing demand, retailers are now investing more in digital marketing and expanding their online presence. Additionally, the popularity of certain soccer players and clubs in the region, such as the rising interest in European leagues, is also influencing consumer preferences in soccer merchandise.
Trends in the market: In the ASEAN region, there is a growing trend of online shopping for soccer merchandise. With the rise of e-commerce platforms and increasing internet penetration, more consumers are turning to online retailers for their soccer merchandise purchases. This not only allows for a wider selection of products, but also offers convenience and accessibility for customers. This trend is expected to continue, with the potential for personalized shopping experiences and targeted marketing strategies. This has significant implications for industry stakeholders, including the need for efficient supply chain and distribution networks, and the importance of online presence and customer engagement. Overall, this trend indicates a shift towards a more digital and connected consumer market in the soccer merchandise industry.
Local special circumstances: In the ASEAN region, the soccer merchandise market is influenced by the strong passion for soccer in the region. This is evident in the high demand for team jerseys, scarves, and other memorabilia of local teams. In countries like Indonesia and Malaysia, where Islam is the predominant religion, there are also unique considerations when it comes to designs and branding of merchandise. Additionally, import and export regulations within ASEAN member states can impact the availability and pricing of soccer merchandise, adding a layer of complexity to the market.
Underlying macroeconomic factors: The Soccer Merchandise Market of the Soccer Market within the Sports Market is influenced by macroeconomic factors such as consumer spending power, foreign exchange rates, and economic stability. Countries with strong economic growth and favorable exchange rates are experiencing higher demand for soccer merchandise, particularly in countries with a high soccer fandom. Additionally, supportive government policies, such as tax breaks and incentives for the sports industry, also contribute to the growth of the market. On the other hand, economic downturns and unfavorable exchange rates can lead to a decrease in consumer spending on such non-essential items, impacting the markets performance. Moreover, fluctuations in labor costs and raw material prices can also affect the markets profitability for stakeholders involved in the production and distribution of soccer merchandise.
Data coverage:
The data encompasses B2C revenues. Figures are based on merchandise spending. All monetary figures refer to consumer spending on goods 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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