Global Athletic Footwear Market: An Overview
The athletic footwear market report is a detailed study of trends, growth indicators, and economic forecast during 2018-2028. The report promises to provide key insights into the falling ratings for sports broadcasts. Currently, the falling ratings for all sports including NBA, MLB, and NFL is a major challenge worrying investors. According to sports illustrated, there is a 9.7% drop in overall NFL rating during the 2017-2018 season. Moreover, there was an 8% fall in the NFL rating in 2015-2016. This pattern is consistent over all major networks including ESPN, MLB, and Fox. This is an important trend to watch out for in the athletic footwear market. The dynamic shifts in viewing patterns of of the audience is expected to bring about a sea of change in loyalties, branding, marketing and distribution channels in the athletic footwear market.
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Global Athletic Footwear Market: Notable Developments
K-Swiss, a major brand for athletic footwear designed new sneakers especially for esports players in 2019. According to a new report by Goldman Sachs, the esports market will be worth $2.7 billion by 2022. Moreover, the move by K-Swiss is in line with other major brands including Adidas and Nike which also signed sponsorship deals with e-sports in 2019.
While speaking in an interview, former vice president of digital and brand strategy at phoenix Suns said, the rising usage of tablet and smartphone has led to increased consumption of online channels on Youtube as well as Netflix. On the other hand, the Brian Hughes, senior vice president MAGNA Global USA said, there is an increased interest in quick highlights, stats, and updates.
Athletic Footwear Market: Drivers and Restraints
More consumer are engaging in cord cutting, cord shaving, and responsible for the falling ratings. This may be a worrying trend but it is a sign telling investors to adapt more to the digital medium. The interactive and vibrant interaction of digital medium needs to be analysed further in order to find more suitable and lucrative branding and marketing opportunities.
Many analysts believed the reason for the sudden drop in ratings has a lot to do with generational change. They believed millennial aren’t keen on watching sports as much as their previous generation. However, new studies have debunked this theory. The number of millennial watching NFL on TV actually increased from 65% to 67% in 2016-2017 season. So, the challenge here is not essential generational, or lack of interest. However, it’s about fighting short attention spans.
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Global Athletic Footwear Market: Geographical Analysis
The global athletic footwear market report will cover key regions of the globe which display huge diversity in their viewership trends towards sports. On one hand, North America and Europe are witnessing huge stride towards e-sports. On the other hand, countries like China are witnessing major uptake of new sporting viewership including MLB and NBA. The e-sports market will likely remain dominant in the near future as rising urbanization globally, congested space, and busy lifestyle are moving city dwellers away from conventional sports. Additionally, the e-sports in the virtual world provide a far more interactive, community-based, and passionate fan following. The growing demand for athletic footwear in conventional sports is likely to remain high, thanks to expanding outreach to new regions, growth in interest for shorter formats of the game, and rising disposable income in developing countries. However, the digital arena leaves large scope for investigation as new players, new regions, and dynamic shifts in advertising, marketing, and distribution promise to create new opportunities for growth.
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