The Soccer Merchandise market in India is facing stagnant growth due to various factors such as limited consumer spending on non-essential items and minimal promotion of official merchandise by professional clubs. This has led to a slow market growth rate in the highly competitive Sports market in India.
Customer preferences: With the rising popularity of soccer in India, the demand for soccer merchandise has also increased. Consumers are looking for unique and authentic products that represent their favorite teams and players. Additionally, there has been a shift towards sustainable and ethically sourced merchandise, reflecting the growing cultural awareness of environmental issues. Furthermore, the emerging trend of online shopping has led to the growth of e-commerce platforms specializing in soccer merchandise, catering to the diverse preferences of consumers.
Trends in the market: In India, the Soccer Merchandise Market of the Soccer Market within the Sports Market is seeing a surge in online sales of soccer merchandise, with e-commerce platforms offering a wide range of products at competitive prices. There is a growing trend of using social media influencers and celebrity endorsements to promote soccer merchandise, increasing brand awareness and driving sales. Additionally, there is a rise in collaborations between football clubs and local apparel brands, catering to the demand for region-specific merchandise. This trend is expected to continue, further fueling the growth of the soccer merchandise market in India.
Local special circumstances:
In India, the popularity of soccer as a sport has led to a thriving Soccer Merchandise Market. However, specific local factors, such as diverse cultural preferences, have influenced the market dynamics. For instance, in the northern part of the country, where cricket is more popular, soccer merchandise sales are comparatively lower. Additionally, the presence of a large rural population and limited access to traditional retail stores has driven the demand for online soccer merchandise purchases. This has resulted in the emergence of e-commerce platforms catering to this niche market. Moreover, the recent regulatory push towards promoting make in India products has also allowed local brands to enter the market, offering unique and culturally relevant soccer merchandise choices.
Underlying macroeconomic factors: The Soccer Merchandise Market in India is significantly impacted by macroeconomic factors such as consumer spending patterns, population demographics, and overall economic growth. As India experiences rapid economic growth and a growing middle class, consumer spending on sports and leisure activities is expected to increase. Additionally, government initiatives promoting sports and infrastructure development for sports events, such as the upcoming FIFA Under-17 World Cup, are further driving the demand for soccer merchandise in the country. However, challenges such as currency fluctuations and trade policies can also impact the market.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
