Sports Industry Analysis
Woohoo Pay performs analysis of the sports sector by tracking prices, stock availability and promotions in millions of online store catalogs.
Global vision of the sports sector
The demand for products in the sector varies according to demographic and income criteria, a situation that has changed the current competitive landscape. The sports sector is a major economic driver in many countries. For example, in Spain alone it represents 2.4% of the national GDP taking into account textile products, gyms, clubs and even betting.
The truth is that most customers are looking for the best deals online and businesses need to come up with ideas that allow them to offer better value for money without risking the company’s profitability.
Population segments on the rise
In 5 years, the practice of sport among women has grown 13 percentage points to 42%. This increase, linked to the continuous year-on-year increase in the weekly practice of sport among the whole population throughout Europe, makes the sports sector a very powerful economic engine.
Analysis of the sports sector by country
Each country, due to both cultural and climatic differences, has different tastes in terms of sports. In the Nordic countries there are many winter sports that are little known and in countries closer to the equator, as well as in countries with warmer climates, are more akin to practicing certain sports.
Analyzing purchasing patterns or simply the demand for products of one sport or another equally across all countries gives a less than accurate picture of the market.
What does it take to succeed in the industry?
It is a highly competitive sector in all countries. It is very common to have continuous price wars on a large number of products and brands.
For the consumer on the Internet, the main factor in purchasing decisions is the price of the product. Having the right price is vital to increase revenue and optimize the performance of online campaigns.