The Basketball Merchandise market in India is experiencing slow growth, impacted by factors such as low consumer interest and limited availability of online services. However, with increasing reach of digital technologies, the market is expected to grow in the coming years.
Customer preferences: As basketball continues to gain popularity in India, the demand for basketball merchandise among enthusiasts is on the rise. Consumer preferences have shifted towards sustainability, with a focus on environmentally-friendly and ethically-sourced products. This trend is driven by a growing awareness of the impact of consumer choices on the environment and society. As a result, there has been a surge in demand for eco-friendly and socially responsible basketball merchandise in the Indian market.
Trends in the market: In India, the Basketball Merchandise Market of the Basketball Market within the Sports Market has seen a recent surge in demand for team-branded merchandise. With the growing popularity of the Indian Premier League, merchandise sales have increased significantly, especially among the younger generation. This trend is expected to continue, fuelled by the increasing fanbase for basketball in India. Additionally, there is a rise in the use of e-commerce platforms for purchasing merchandise, allowing for easier accessibility and wider reach for retailers. This trend is expected to further boost sales and contribute to the growth of the market. However, it also highlights the need for retailers to adapt to the digital landscape and invest in online marketing strategies to remain competitive in the market.
Local special circumstances: In India, the Basketball Merchandise Market is heavily influenced by the countrys love and passion for the sport. With basketball being one of the most popular sports in India, the market is driven by a strong demand for basketball merchandise, ranging from jerseys and shoes to equipment and accessories. Additionally, geographical factors such as the presence of a large youth population and the increasing number of basketball leagues and tournaments have contributed to the growth of the market. Cultural factors, such as the rise of social media and influencer marketing, have also played a significant role in the popularity and accessibility of basketball merchandise in India. The regulatory environment, with the governments push for sports development and initiatives to promote basketball at the grassroots level, has further fueled the growth of the market.
Underlying macroeconomic factors: The growth of the Basketball Merchandise Market in India is influenced by macroeconomic factors such as the countrys economic growth, consumer spending, and government policies. As Indias economy continues to grow, consumers have more disposable income to spend on leisure activities like sports. Additionally, the governments emphasis on promoting sports and investment in sports infrastructure has fueled the demand for basketball merchandise. The rising popularity of basketball in India, with the success of the Indian national basketball team and the Indian Premier League, has also contributed to the market growth.
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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