The Mexican Soccer Merchandise market has seen sluggish growth due to factors like low consumer awareness and limited availability of online options. Despite being a part of the thriving Sports Market, it struggles with a stagnant growth rate of 0.5%.
Customer preferences: Consumers in Mexico are showing a growing interest in eco-friendly and sustainable merchandise, particularly in the soccer market. This trend is attributed to the increasing awareness about environmental conservation and the rise of conscious consumerism. As a result, there has been a rise in demand for products made from sustainable materials and produced using ethical and environmentally responsible practices. The shift towards eco-friendly products in the soccer market is also influenced by the younger generations strong emphasis on social and environmental causes.
Trends in the market: In Mexico, the Soccer Merchandise Market is experiencing a surge in online sales, with an increasing number of consumers turning to e-commerce platforms to purchase soccer merchandise. This trend is largely driven by the rising popularity of the sport, as well as the convenience and ease of online shopping. Moreover, there has been a shift towards sustainable and eco-friendly products, with fans becoming more conscious of their purchasing decisions. This trend is expected to continue, as industry stakeholders focus on expanding their online presence and offering more environmentally friendly options to meet consumer demand.
Local special circumstances: In Mexico, the Soccer Merchandise Market of the Soccer Market within the Sports Market is strongly influenced by the countrys passionate soccer fan culture. Mexicans have a deep love for the sport and take great pride in supporting their favorite teams. This translates into a high demand for all types of soccer merchandise, from jerseys to hats to scarves. Additionally, Mexicos close proximity to the United States has allowed for a strong influence from American sports culture, leading to a combination of both local and international styles in the merchandise market. The countrys large population and strong economy also contribute to its flourishing soccer merchandise market. Therefore, the unique combination of cultural and economic factors make Mexicos soccer merchandise market stand out from other markets, shaping its dynamics and driving its growth.
Underlying macroeconomic factors: The Soccer Merchandise Market in Mexico is heavily influenced by macroeconomic factors such as consumer spending, inflation rates, and overall economic stability. As the Mexican economy continues to grow and diversify, the country’s middle class is growing, leading to increased consumer spending on leisure and entertainment items such as soccer merchandise. Additionally, favorable trade agreements, increasing investment in infrastructure, and government support for the sports industry further contribute to the growth of the Soccer Market within the Sports Market. However, economic fluctuations and political instability can significantly impact market performance, highlighting the need for a stable and favorable economic climate for sustained growth in the Soccer Merchandise 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.
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