Transparency
Market Research Added A New Report "Licensed
Sports Merchandise Market". 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.
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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. These sport
organizations have merchandise distributed online retail channels and
shops. 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.
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