Sports
licensing includes licensing of symbols, logos, names of players and
names of varied sport organizations. The sports body is known as
licensor whereas company leasing rights is known as licensee. In
particular, licensor selects licensee that helps to enhance the brand
image of sports organization and teams. Expenditure on sports
merchandise determines the wide polarization of buying habits, with
retail and entertainment at one end and e-commerce at the other.
Today, consumers are increasingly spending on sport leisure at high
end malls and departmental stores. Hence, sports organizations are
seeing phenomenal rise in merchandise transactions.
Licensed
sports merchandise is sold through entire range of retail which
includes super markets, drug stores, departmental stores, specialty
stores and online stores. Merchandising enables efficient engagement
with fans who cannot attend matches, thereby helping to monetize
sports brands. For example, Nike permits customers customize their
trainers by sharing their designs and opinions with friends in person
and online. This helps Nike to understand the needs of its customers
and ensure that they come back.
Despite
the recent troubled economy, sports industry continued to thrive.
Licensed sports merchandise is driven by popularity of college and
university level sports team. Additionally, the convergence of
entertainment as sports is raising the usage of social media. Growth
in licensed sports merchandise market is closely linked with consumer
spending patterns. When sports team and fans are considered,
identification with the team have greatest importance in purchasing
licensed merchandise. Today, fans purchase licensed sports
merchandise because they feel like they are part of the team.
Additionally, a good design of store where licensed merchandise is
implemented can help to create an increasing effect on purchase rate.
The major challenge for licensed sports merchandise market is
increasing pressure to grow sports merchandise in international
market while maintaining the integrity of competition and local
support base. They key trends driving the licensed sports
merchandising include proliferation of digital origin properties,
alternative deal structures and decline in licensing contracts.
The
key major restraint for licensed sports merchandise market includes
high entry barriers such as procuring licensing rights and sustaining
brand identity. Additionally, availability of duplicate products and
consolidation of retail business is acting as key restraint for
licensed sports merchandise market.
Various
product category of licensed sports merchandise includes gifts and
novelty, stationery and paper, food and beverage, apparels,
accessories and footwear, and games among others. Geographically,
North America leads the licensed sports merchandise market. In U.S.
sports licensing is dominated by Major League Soccer (MLS), National
Hockey League (NHL), Major League Baseball (MLB), National Football
League (NFL) and National Basketball Association (NBA) among others.
Asia Pacific and Latin America is considered to be fastest growing
region in licensed sports merchandise market. This owes to increase
in disposable income and luxury spending. The key players in licensed
sports merchandise include VF Corporation, G III Apparel Group Ltd.,
Fanatics Inc., Reebok International Limited, Nike Inc., GSI Commerce,
Dreams Inc, and Knights Apparel Inc. among others.
This
research report analyzes this market on the basis of its market
segments, major geographies, and current market trends. Geographies
analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This
report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
More
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