Sports merchandise licensing is a method adopted to prevent the manufacturing and selling of counterfeit products of sports merchandise brands. The market for licensed sports merchandise is expected to grow significantly as sports fanatics do not mind spending money on licensed sports merchandise. The licensed merchandise market is driven by innovation and regular product development to produce attractive and stylish sports merchandise.
The global licensed sports merchandise market is classified into four segments – products, distribution channels, price range, and end users. Products consist of apparels, sport shoes, toys, accessories, gifts, etc. The same report suggests that footwear holds the largest share in this segment and will account for 42% of the market share by 2023. The apparels segment ranks second, accounting for 36% of the market share by 2023. Distribution channels consist of offline stores and online stores. Offline stores held 66% of the market share as people prefer a proper assessment of the merchandise before buying. With growing awareness around e-commerce and social media, online sales are slowly picking up pace.
In regards to the price segment, the global licensed sports merchandise market is divided into economic and premium price range. Finally, the end user segment is divided among men, women and children. The report tells us that even though men held the largest market share (58%), women’s participation and viewership of sports has improved over time, encouraging merchandisers to produce licensed sports apparels and commodities for women.
Geographically, the global licensed sports merchandise market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa. North America accounted for 65% of the market in 2018. At present, the only road block to the consistent growth of the market is governmental control on the price and quality of the products manufactured and sold.
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