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The New Zealand Basketball market has been experiencing minimal growth due to factors such as limited media coverage, availability of merchandise, and high ticket prices. However, the market is expected to see a gradual increase in growth as digital technologies and online services continue to attract more consumers and foster health awareness in the country.
Customer preferences: As the popularity of social media platforms continues to rise, consumers are increasingly turning to online communities and influencers for recommendations and reviews on basketball products and services. This trend is particularly evident in younger demographics, who value peer opinions and authenticity in their purchasing decisions. Additionally, there has been a growing emphasis on sustainable and ethically-sourced products, with consumers actively seeking out brands that align with their values and principles. This has led to a rise in demand for eco-friendly and socially responsible basketball equipment and apparel.
Trends in the market: In New Zealand, the Basketball Market within the Sports Market is seeing a rise in the use of digital platforms for broadcasting and streaming games, as well as for online ticket purchases and merchandise sales. This trend is expected to continue as consumers increasingly demand convenience and accessibility. The significance of this trend lies in its potential to increase the market reach and audience engagement for basketball, leading to higher revenues for industry stakeholders. It also allows for better targeting and marketing strategies. However, the potential implications for traditional media outlets and physical ticket sellers should not be overlooked. These businesses may need to adapt and evolve in order to remain competitive in the changing landscape of the basketball market.
Local special circumstances: In New Zealand, the Basketball Market within the Sports Market is heavily influenced by the countrys small population and geographical location. With only approximately 5 million people, the market is limited but passionate. Additionally, New Zealands close proximity to Australia, a country with a strong basketball culture, presents opportunities for cross-promotion and competition. The countrys laid-back and inclusive culture also fosters a welcoming environment for diversity in the sport, contributing to its growth. Furthermore, the governments support for grassroots programs and investments in developing infrastructure has led to a rise in participation and interest in the sport.
Underlying macroeconomic factors: The Basketball Market within the Sports Market in New Zealand is heavily influenced by macroeconomic factors such as the countrys overall economic health, government fiscal policies, and global economic trends. With a strong economy and stable political climate, New Zealand has a favorable environment for the growth of the Basketball Market. Additionally, the governments investment in sports infrastructure and emphasis on promoting a healthy lifestyle through sports participation has further propelled the growth of the Basketball Market in the country. On a global scale, the increasing popularity of basketball as a sport and the growing number of international tournaments and leagues have also contributed to the growth of the market in New Zealand. Overall, the favorable macroeconomic factors make New Zealand a promising market for the Basketball Market within the Sports Market industry.
Data coverage:
The data encompasses B2C and B2B revenues. Figures are based on media spending, merchandise spending, and ticket spending. All monetary figures for merchandise and tickets refer to consumer spending on goods or tickets 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.Lu - vi, 9:30 - 17:00 h (CET)
Lu - vi, 9:00 - 18:00 h (EST)
Lu - vi, 9:00 - 17:00 h (SGT)
Lu - vi, 10:00 - 18:00 h (JST)
Lu - vi, 9:30 - 17:00 h (GMT)
Lu - vi, 9:00am-6:00pm (EST)