Licensed Sports Merchandise has expanded its presence online as well which is increasing the potential in the online space given the high level of internet penetration in developing countries. This will also mean extensive competition since it’s easier to establish markets online than offline. Another opportunity for the market is the growing disposable income of the consumers. As the per capita disposable income increases, more consumers are likely to be consuming sports apparel.
According to Research Global Licensed Sports Merchandise Market (2018–2023) gives a detailed analysis of the global market for licensed sports merchandise market. The top players in the global market are Nike, Adidas, G-III Apparel Group, Under Armour, Fanatics, Inc., VF Corporation, Puma, Li Ning Company Limited, DICK'S Sporting Goods, and ANTA. The report provides details about the major challenges impacting market growth. The report contains an in-depth analysis of the vendor's profile, which includes financial health, business units, key business priorities, SWOT, strategies, and views. It will help the investors make strategic investment decisions.
Regionally, North America accounts for the largest market share and the same trends are expected to be witnessed in the forecast period. A very potential and growing market are observed in the Asia Pacific region due to a number of reasons like high population density, high disposable incomes and growing love for sports in countries like India and China. Past trends also show how extensive marketing and branding strategies by multinationals in these regions have been highly successful.
Based on various sources that study trends about online purchase behaviors, it is observed that major consumer motives for purchases are functional purposes to keep up with general body fitness and sports activity and to keep up with pop culture and favorite sports teams and players. This is also increasingly being influenced by social media influencers and sports idols. Social media has also facilitated constructive consumer feedback regarding design, discounts, and technology.
Due to the surge in the number of people accessing sports, there is a rise in the licensed sports merchandise market as well. The market for sports merchandise can be categorized based on product category into sports apparel, sports footwear, sports accessories among others. Other merchandise segments include souvenirs, gifts, and consumer electronics. Based on the distribution channels, they can be studied into online and offline stores and e-commerce channels. Offline channels include department stores, mass stores, retail outlets, etc. The preferred choice is an offline mode for fans looking out for licensed sports goods. Due to a growing number of sports leagues, there are huge fan bases erupting from everywhere which is serving as a new market for personalized licensed merchandise and goodies.
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