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The Sports market in Chile is experiencing minimal growth due to various factors including stagnating consumer interest, lack of investment in infrastructure, and competition from other forms of entertainment. Submarkets such as soccer and basketball remain popular, but the overall market is hampered by a stagnant economy and changing consumer preferences. Government initiatives and collaborations with international leagues may help drive future growth.
Customer preferences: The Sports market in Chile is seeing a rise in demand for fitness tech and digital solutions to support health and wellness goals. This is driven by the growing interest in self-care and convenience, with individuals looking for easy access to online fitness programs, nutrition tracking apps, and virtual coaching services. This trend is also influenced by the rise in chronic conditions, with consumers turning to remote monitoring and digital treatment options for management and support.
Trends in the market: In Chile, the Sports Market is experiencing a surge in the use of technology in sports, with athletes and coaches using data tracking and analysis tools to improve performance. This trend is set to continue with the increasing availability of wearable devices and the integration of artificial intelligence in training and competition. Such advancements have significant implications for industry stakeholders, as it allows for enhanced data-driven decision making and performance optimization. Additionally, the rise of e-sports in Chile has attracted investments and sponsorship opportunities for teams and competitions, further boosting the growth of the industry.
Local special circumstances: In Chile, the Sports Market is heavily influenced by its unique geographical features, such as its diverse landscapes and extreme climate. This has led to a wide variety of sports being popular in the country, from skiing and snowboarding in the Andes Mountains to surfing and kitesurfing along the countrys long coastline. This diversity has also contributed to the growth and development of sports tourism in Chile. Additionally, the countrys strong passion for sports and its governments support for sports initiatives have created a thriving market for sports equipment, apparel, and events.
Underlying macroeconomic factors: One of the major macroeconomic factors shaping the Sports market in Chile is the overall economic health of the country. The performance of the market is highly dependent on the purchasing power and disposable income of the population, and any fluctuations in the national economy can significantly impact consumer spending on sports activities and events. Moreover, fiscal policies such as tax rates and government spending on infrastructure development also play a crucial role in the growth of the Sports market. For instance, investments in sports facilities and stadiums can attract international sporting events, boosting the market and promoting tourism. Furthermore, global economic trends such as trade agreements and economic partnerships can also have a ripple effect on the Sports market in Chile, influencing foreign investments and exports of sports-related goods and services.
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)