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Worldwide sports market shrinks
By: Jeff James
Listed Under: Top Story
Published: Tuesday, August 03, 2010
The worldwide sports market has declined for the first time since 2005, according to The NPD Group’s Global Sports Estimate 2010, the fifth annual study of the global sports market.
NPD values the global sales of sports equipment, apparel and footwear at $282billion for 2009, a two per cent decline on 2008.
“The state of the global economy and its subsequent impact on consumers worldwide has had an impact on the sport market as well,” says Renaud Vaschalde, global sports industry analyst at The NPD Group, Inc.
“We found that the market declined four per cent in the US and five per cent in Japan, which are keys to understanding the global decline.”
While the overall sports market suffered declines, there are pockets of growth in the Middle East (three per cent), North Africa (five per cent), equipment in Europe (one per cent) and footwear in Asia (one per cent).
Footwear, apparel and equipment products purchased for ‘sport use’ performed better in Europe (minus one per cent) and Asia (plus one per cent) than in the USA (minus four per cent).
Products purchased for ‘sport style’ where down everywhere - minus three per cent in Europe and in the USA, and minus one per cent in Asia.
“It is really the impact of the trend for ‘sport use’ that shows us why we are seeing less of a decline in Europe and Asia versus the US,” says Vaschalde.
However, according to NPD, there is evidence that the global sports market will bounce back in 2010, with a forecast of an increase of one per cent globally.
“We have just ended the 2010 World Cup and we know that from past tournament years this is a key driver of sales in the football market and in turn that will help to push the overall sport market back into positive territory,” says Vaschalde.
“In addition, the US market is expected to stabilise and potentially grow in 2010.”
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