Soccer Merchandise - Montenegro

Montenegro

Highlights

Revenue in the Soccer Merchandise market is projected to reach US$381.00k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.69%, resulting in a projected market volume of US$414.20k by 2029.
In global comparison, most revenue will be generated United States (US$1.38bn in 2024).
The average revenue per user (ARPU) in the Soccer Merchandise market is projected to amount to US$29.42 in 2024.
In the Soccer Merchandise market, the number of users is expected to amount to 14.2k users by 2029.
User penetration in the Soccer Merchandise market will be at 2.1% in 2024.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Soccer Merchandise Market in Montenegro nan has seen growth due to the rising demand for digital products, increased health awareness among consumers, and the convenience of online services. However, the markets growth rate is currently negligible due to factors such as limited disposable income and lack of diversity in product offerings.

Customer preferences: The rise of e-commerce in the soccer merchandise market has changed the way consumers shop for their favorite teams gear. With the convenience of online shopping, consumers are now able to easily access a wider selection of products from different global brands. This shift is further fueled by the increasing demand for authentic and customizable merchandise, as fans seek to express their loyalty and passion for their team. Additionally, the emergence of influencer marketing and collaborations with popular players has also influenced consumer preferences and boosted the popularity of certain brands.

Trends in the market: In Montenegro, the Soccer Merchandise Market is experiencing a surge in e-commerce, with online sales accounting for a larger share of overall sales. This trend is expected to continue as more consumers turn to online shopping for convenience and safety. Additionally, there has been a growing demand for sustainable and eco-friendly merchandise, leading to the introduction of environmentally conscious products by major industry players. These trends have significant implications for industry stakeholders, as they will need to adapt to the changing consumer preferences and invest in digital capabilities to remain competitive. Furthermore, there may also be opportunities for new entrants in the market to capitalize on the growing demand for sustainable and online products.

Local special circumstances: In Montenegro, the Soccer Merchandise Market is heavily influenced by the countrys close ties to soccer and its strong soccer culture. The geographic location of Montenegro, situated between the Adriatic Sea and mountainous terrain, also plays a key role in shaping the market. Additionally, the countrys small population and limited market size create a tightly knit community of soccer fans, leading to a unique demand for locally-made and personalized merchandise. The governments support for sports tourism and investments in soccer infrastructure further contribute to the dynamics of the Soccer Merchandise Market in Montenegro, making it a lucrative market for both domestic and international companies.

Underlying macroeconomic factors: The Soccer Merchandise Market in Montenegro is also influenced by macroeconomic factors such as the overall economic health of the country, government fiscal policies, and global economic trends. A stable and growing economy, along with favorable government policies, can lead to increased consumer spending on leisure activities like sports, thereby driving demand for soccer merchandise. Conversely, an economic downturn or restrictive policies can result in a decline in consumer spending and adversely affect the market. Moreover, the emergence of new technologies and changing consumer preferences worldwide also play a significant role in shaping 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.