NEW YORK, Aug. 19, 2021 /PRNewswire/ —
As per Technavio’s Research Analysis, the licensed sports merchandise market is likely to register a CAGR of almost 3% while registering an incremental growth of USD 4.29 billion during 2021-2025. The report offers analysis on dominant market players including adidas AG (Germany), Columbia Sportswear Co. (US), Kynetic (US), DICKS Sporting Goods Inc. (US), Nike Inc. (US), PRADA Group (Italy), and PUMA SE (Germany).
Enterprises will go through the Response, Recovery, and Renew phases.
As the business impact of the COVID-19 spreads, the licensed sports merchandise market is expected to have negative growth.
Companies across the globe are focusing on creating a Resilient Business Model in the Face of COVID-19. Vendors are continuing their ongoing operations while building resilient business models as the path to recovery from the pandemic is being carved out.
The recovery process involves various phases including:-
- Adjust their strategic planning to move ahead once business stability kicks in.
- Focusing on agile execution of proposed and approved changes.
- Assessing Impact on Critical IT infrastructure and Software System
Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Top 3 Licensed Sports Merchandise Market Players
The company offers a wide range of licensed sports merchandise for men, women, boys, and girls for different applications and activities, such as running, lifestyle, football, sports sandals, tennis, outdoor, hiking, sneakers, gym and training, skateboarding, walking, casual/lifestyle, and basketball. A major product offering of the company is Nike NBA Connected Jersey
The company offers licensed sports merchandise through its Fanatics, FansEdge, Kitbag, Majestic, and Fanatics Authentic brands. Some of the products offered by the company are USA Basketball Mitchell & Ness 1992 Dream Team Authentic Shorts – Navy and USA Basketball Nike Legend 2.0 Long Sleeve T-Shirt – White.
DICKS Sporting Goods Inc.
The company offers hardlines, apparel, footwear, and merchandise and non-merchandise sales categories, including in-store services.
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Licensed Sports Merchandise Market 2021-2025: Segmentation
Licensed sports merchandise market is segmented as below:
- Apparel & Footwear
- Accessories & Gifts
- Toys & Games
- Distribution Channel
- North America
- South America
The licensed sports merchandise market is driven by increased awareness of fitness activities, design and material innovations leading to product premiumization, and the high influence of celebrity endorsements on customer purchase decisions. In addition, other factors such as increased awareness of fitness activities are expected to trigger the licensed sports merchandise market toward witnessing a CAGR of almost 3% during the forecast period.
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- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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