Soccer Merchandise - South Korea

South Korea

Highlights

Revenue in the Soccer Merchandise market is projected to reach US$110.70m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.46%, resulting in a projected market volume of US$119.00m 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$29.51 in 2024.
In the Soccer Merchandise market, the number of users is expected to amount to 4.1m users by 2029.
User penetration in the Soccer Merchandise market will be at 7.3% in 2024.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The South Korean Soccer Merchandise Market is continuously expanding, driven by high consumer demand for digital technologies, growing interest in health, and the convenience of online shopping. This growth, however, is being impacted by the regions negligible growth rate.

Customer preferences: As the popularity of soccer continues to rise in South Korea, consumers are increasingly turning towards personalized and exclusive merchandise options. This trend is driven by a desire for unique and authentic products that showcase their loyalty to their favorite teams. Additionally, with the rise of social media and influencer culture, consumers are seeking out trendy and fashionable soccer merchandise to display on their online platforms. This cultural shift has also led to a surge in demand for online retail platforms that cater specifically to the soccer merchandise market, catering to the evolving lifestyle preferences of South Korean soccer fans.

Trends in the market: In South Korea, the Soccer Merchandise Market within the Sports Market is experiencing an increase in online sales. Football clubs are expanding their e-commerce presence and partnering with major online retailers to reach a wider audience. This trend is driven by a growing popularity of online shopping among South Korean consumers. Additionally, there has been a rise in demand for licensed merchandise, particularly among younger generations. As a result, industry stakeholders are investing in digital marketing strategies to capitalize on this trend and drive sales. This shift towards online sales has the potential to significantly impact traditional brick-and-mortar retailers if they do not adapt to the changing market trends.

Local special circumstances: In South Korea, the Soccer Merchandise Market is heavily influenced by the countrys passionate and dedicated fanbase for the national soccer team and popular professional leagues. This creates a strong demand for soccer merchandise, including team jerseys, scarves, and other accessory items. Additionally, the countrys advanced and tech-savvy population contributes to the growing trend of online purchases for soccer merchandise. Furthermore, strict import regulations and cultural preferences also play a role in shaping the market, with a preference for locally-made products and limited availability of foreign merchandise.

Underlying macroeconomic factors: The Soccer Merchandise Market of the Soccer Market within the Sports Market is heavily influenced by macroeconomic factors such as consumer spending power, market saturation, and exchange rates. Consumer spending power greatly impacts market performance as it determines the demand for soccer merchandise. Economic health in the country also plays a crucial role, as a strong economy generally leads to a more avid fan base and increased spending on sports merchandise. Additionally, fiscal policies and trade agreements can affect the availability and pricing of imported soccer merchandise, making exchange rates a key factor to consider in this 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.