Global Online Sports Retailing Market

April 23, 2022
ID: SR/ICT-152
Format:Pdf
Pages:220

Global Online Sports Retailing Market, By Product Type (Sports Equipment, Sports Apparel, Sports Footwear, and Others), By End User (Men, Women, and Kids (Boys and Girls)), and By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa)-Global Forecast to 2028.

Description

Online Sports Retailing Market Overview

The global Online Sports Retailing market is expected to grow with a significant CAGR during the forecast period, 2022-2028. The increasing penetration of smartphones, the growing availability of a plethora of options, lower prices compared to physical stores, and shifting consumer preference toward branded products are the primary factors accelerating the growth of the global Online Sports Retailing market during the forecast period. Furthermore, the growing continuous innovations, rapid technological advancements to keep pace with dynamic consumer preferences, increasing awareness regarding the benefits of a healthy lifestyle and the importance of sports and fitness activities, and the growing presence of various leading sports companies such as Nike, Adidas, PUMA, Under Armour, and many more offering a wide range of products through their online platforms are also anticipated to propel the growth of the global online sports retailing market during the forecast period.

What is Online Sports Retailing?

Online Sports Retailing is a form of electronic commerce that allows sports equipment and apparel sales through the internet. It allows consumers to purchase sports goods directly from a seller. Online Sports Retailing companies showcase their products on their websites or through mobile apps and offer several advantages such as easy access to the market, the convenience of shopping from the comfort of homes or any other location and an increase in the reach of retailers from the local area to overseas over traditional brick-and-mortar platform.

Growth Driver

The rapid growth of the e-commerce industry and growing digital transformation in the sports industry

Rising health and self-consciousness, desire to lead active lifestyles and appear fit encourage consumers to incorporate sports and fitness activities into their daily routine. Also, the growing consumer interest in outdoor individual sports participation has increased the demand for sporting goods, such as apparel, footwear, and equipment across the globe. Moreover, the growing availability of sports apparel with enhanced properties such as moisture management, temperature control, and other performance-boosting characteristics that prevent discomfort and potential injury has also increased the consumer focus on these sports apparel across the globe. This increased demand for sports apparel and equipment among consumers has made various sportswear stores and businesses invest in online presence to increase their sale volumes and retain existing customers across the globe. The growing digital transformation and increasing adoption of digital innovations in the sports industry is creating various opportunities for the growth of the global online sports retailing market during the forecast period.

Furthermore, the rising penetration of the internet, increasing the number of smartphones, rising social media users, and the rapid growth of the e-commerce industry and shifting consumer preference toward online shopping due to its various advantages over offline shopping. With the changing consumer buying behavior, most brands, retailers, and manufacturers are changing their business models by adopting digital commerce to accelerate their sales direct to customers. Furthermore, various leading manufacturers are increasingly adopting digital marketing to increase product visibility, largely influencing a large customer base. This rapid adoption of digitalization by various brands, retailers, and manufacturers are anticipated to drive the global online sports retailing market, especially in developing countries during the forecast period.

Retail E-commerce sales (USD Billion)

Pre-Covid-19 impact on the global Online Sports Retailing market

The easy access to the internet on account of the rise in the sales of smartphones, increasing use of debit cards for transactions and growing investment in logistics and warehouses have increased the growth of the global Online Sports Retailing market in the pre-COVID era. Furthermore, the continuous increase in the number of smartphone users and improving the population’s standard of living have also boosted the market’s growth. In addition, growing security features provided by online retailers, including online payments and online customer services, have also positively influenced the growth of the global Online Sports Retailing market. Furthermore, the growing availability of many designs and fits is propelling the growth of the global Online Sports Retailing market in the pre- covid era.

Covid-19 impact on the global Online Sports Retailing market

The COVID-19 pandemic has significantly hit the global Online Sports Retailing industry market in 2021 across the globe. The pandemic has severely affected every business segment due to various government norms such as nationwide lockdown and complete shutdown of manufacturing facilities across the globe. The interruption in the supply chain of products and goods and the non-availability of the workforce have halted the various industrial processes in developing and developed countries, significantly impacting the growth of the Online Sports Retailing market. Moreover, the complete shutdown of outdoor and indoor sports facilities canceling and postponing various sporting events, has also slowed the demand for sporting goods among consumers across the globe. However, the increased consumer awareness of physical fitness and increased number of consumers preferring home workouts have fuelled the growth of the online sports retailing market during the forecast period.

Post Covid-19 impact on the global Online Sports Retailing market

The increasing awareness about the benefits of a healthy lifestyle and the importance of sports and fitness activities has significantly increased consumer spending on sports apparel and equipment across the globe. This rapid increase in the number of smartphones and the growth of the e-commerce industry is anticipated to propel the growth of the global Online Sports Retailing market during the forecast period. Furthermore, the continuous evolution of new technologies such as Artificial Intelligence (AI), Chatbot, and Machine Learning is helping e-retailers to understand customer demand and leverage these technologies by making smart product recommendations and personalized guidelines. Furthermore, the growing adoption of digital marketing tools and increasing offering of sporting apparel and accessories through various social media platforms are expected to accelerate the growth of the global online sports retailing market during the forecast period.

Product Type Segmental Analysis

Based on the Product Type, the global Online Sports Retailing market is segregated into Sports Equipment, Sports Apparel, Sports Footwear, and Others. The Sports apparel segment is expected to hold the highest market share in the global Online Sports Retailing market in 2021. Sports Apparel includes Tracksuits, shorts, T-shirts and polo shirts and specialized Garments include swimsuits, wet suits, ski suits and leotards. The demand for fashionable sports apparel is rising as they are versatile, convenient, trendy, and can be worn for various occasions. Moreover, the growing availability of sports apparel with enhanced properties such as moisture management, temperature control, and other performance-boosting characteristics is anticipated to propel the growth of the sports apparel segment in the global online sports retailing market during the forecast period. Furthermore, the sports footwear segment is expected to witness significant growth in the global online sports retailing market during the forecast period.

End-User Segmental Analysis

Based on the End User, the global Online Sports Retailing market is segregated into Men, Women, and Kids (Boys and Girls). The Men segment is expected to have a significant market share during the forecast period. The increasing popularity of national and international events, such as the Soccer World Cup, Olympic Games, and Cricket World Cup, and an increasing number of men participants are boosting the growth of men segment in the global online sports retailing market. Moreover, rising cases of lifestyle-related health issues, such as stress and obesity, are pushing more people to engage in outdoor and fitness activities, fuelling the demand for various sorts of fitness and sports apparel among consumers across the globe. Furthermore, the women segment is expected to witness significant growth in the global online sports retailing market during the forecast period. The rising participation of women in professional and domestic sports, fitness activities and the growing availability of fashionable sports apparel is expected to further fuel the growth of the women segment in the global online sports retailing market during the forecast period.

Region Segmental Analysis

The Online Sports Retailing market is characterized by North America, Europe, Asia Pacific, South America, and Middle East & Africa. The North American region is expected to dominate the Online Sports Retailing Market and continue this growth rate during the forecast period, 2022-2028. This growth is attributable to the growing presence of various leading sporting apparel and equipment manufacturers and the growing popularity of games such as football, basketball, etc., in the region. Furthermore, the Asia Pacific region is expected to witness significant growth in the global online sports retailing market during the forecast period. Various emerging economies such as India and China are witnessing a significant increase in the demand for sporting accessories and equipment on COVID-19. In addition, the rapid economic growth, rising consumer disposable income, and increasing consumer participation in various fitness-related activities are anticipated to propel the growth of the product market in the region.

Competitor Analysis

Companies include Nike, Adidas, PUMA, Under Armour, DICK’s Sporting Goods, ASICS, Columbia Sportswear, Alibaba Group, Amazon.com, Benetton Group Srl. Giordano International Limited, EBay Inc., and Myntra are the key players in the Online Sports Retailing market.

Key Stakeholders

Market research and consulting firms
Industry associations
Global Online Sports Retailing manufacturing firm
Local Governments
Regulatory bodies
Suppliers
Retailers

Recent Developments

In March 2021, DICK’S Sporting Goods and NIKE announced a partnership designed to enhance the shopping experience for DICK’S and NIKE customers. This first-of-its-kind collaboration will allow DICK’S and NIKE to each reach more customers and provide them with access to exclusive products, experiences and offers.
In March 2021, Dick’s Sporting Goods announced the introduction of VRST, a men’s athletic apparel brand built for the modern active man who lives life on the go. VRST is available exclusively on VRST.com and dicks.com and will roll out to more than 400 DICK’S stores nationwide over the coming weeks.

Scope of the Report

Report Attribute	Details
Historical data	2017 – 2020
Base Year	2021
Forecast period	2022 – 2028
Region covered	America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	Nike, Adidas, PUMA, Under Armour, DICK’s Sporting Goods, ASICS, Columbia Sportswear, Alibaba Group, Amazon.com, Benetton Group Srl., Giordano International Limited, EBay Inc., Myntra, and other prominent players

Market Modelling

By Product Type

Sports Equipment
Sports Apparel
Sports Footwear
Others

By End-User

Men
Women
Kids
- Boys
- Girls

By Region

North America
Europe
Asia Pacific
South America
Middle East & Africa

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Table Of Contents

Methodology

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Frequently Asked Questions (FAQ):

What is Online Sports Retailing?

Online Sports Retailing is a form of electronic commerce that allows sports equipment and apparel sales through the internet. It allows consumers to purchase sports goods directly from a seller.

What is the growth rate of the Online Sports Retailing market?

The global Online Sports Retailing market is expected to grow with a significant CAGR during the forecast period, 2022-2028.

What are the driving factors for the global Online Sports Retailing market?

The increasing penetration of smartphones, the growing availability of a plethora of options, lower prices compared to physical stores, and shifting consumer preference toward branded products are the primary factors accelerating the growth of the global Online Sports Retailing market during the forecast period.

Which region is expected to have the largest share in global Online Sports Retailing?

The North American region is expected to dominate the Online Sports Retailing Market and continue this growth rate during the forecast period, 2022-2028.

Who are the major players in the global Online Sports Retailing?

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Global Online Sports Retailing Market