The Soccer Merchandise market in Southeast Asia is experiencing sluggish growth due to factors like lack of consumer interest and competition from other Sports markets. Convenience and technology adoption are not significant drivers in this market.
Customer preferences: Consumers in Southeast Asia are showing a growing interest in sustainable and eco-friendly merchandise, leading to an increase in demand for environmentally-friendly soccer apparel and accessories. This shift in consumer preferences can be attributed to the regions growing awareness of the impact of fast fashion on the environment. As a result, more companies are offering sustainable and ethically-sourced options, appealing to the conscious consumer. This trend is also driven by demographic shifts towards younger, socially-conscious generations who prioritize sustainability in their purchasing decisions.
Trends in the market: In Southeast Asia, there is a growing trend of online shopping for soccer merchandise, driven by the increasing popularity of the sport in the region. With the rise of e-commerce platforms and mobile shopping apps, consumers have greater access to a wide range of soccer products from international brands. This trend is expected to continue in the coming years, with a forecasted growth of the e-commerce market in Southeast Asia. Industry stakeholders should tap into this trend by leveraging digital marketing strategies and partnering with popular online platforms to reach a wider audience and boost sales. Additionally, there is potential for local brands to emerge and cater to the unique preferences and cultures of Southeast Asian consumers, offering a competitive edge in the market.
Local special circumstances: In Southeast Asia, the Soccer Merchandise Market is greatly influenced by the regions love for soccer and enthusiastic fan base. Additionally, the rapidly growing economy has led to a rise in disposable income, allowing for more purchasing power for soccer merchandise. In countries like Indonesia and Thailand, where soccer is the most popular sport, the market is further driven by cultural and social factors, with fans eagerly purchasing merchandise to show their support for their favorite teams. In Malaysia, the governments push for sports development has also aided in promoting the growth of the Soccer Merchandise Market.
Underlying macroeconomic factors: The Soccer Merchandise Market in Southeast Asia is heavily influenced by macroeconomic factors such as consumer spending, economic policies, and trade agreements. In countries with strong economic growth and stable political environments, the Soccer Merchandise Market is expected to thrive. Similarly, trade agreements between Southeast Asian countries and major global economies, such as the EU and the US, can have a significant impact on the Soccer Merchandise Market, as they can unlock new business opportunities and drive market growth. Additionally, the increasing disposable income of consumers in the region is expected to boost demand for premium soccer merchandise, leading to market expansion.
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)
