Published on : Aug 24, 2017
ALBANY, New York, August 24, 2017 – The U.K. sports market has been comprehensively evaluated in a market research report put on sale by ResearchMoz.us, titled “The UK Sports Market 2017–2022.” The report has shed light on some of the most critical consumer attitudes, trends, and important players operating in the market. Related markets such as sports equipment, bicycles, and sportswear have been assessed with the help of a highly insightful and intelligent study. Key factors that could have an impact on the market have been researched in great depth. These include spending motivations, consumer shopping habits, retailer market shares, retailer profiles, market forecasts and sizes until 2022, strategies for success, and hot issues influencing the growth of the market.
Several categories related to the product classification of the U.K. sports market have been analyzed in the publication. These include rackets, water sports, skates, balls, fishing, camping, fitness equipment, golf, bicycles, sports footwear, and sports clothing. The sports equipment market in the country has been foreseen to recede in terms of volume growth in 2017 and the year after. This could be on account of compressed disposable income of consumers, weak consumer confidence, and price inflation. Nevertheless, contrastingly, there could be opportunities growing from the impressively rising bicycles and sportswear markets. These have been expected to progress in an outperforming manner. For 2017, the bicycles market has been predicted to garner a sales growth of up to 8.7% and 6.4% by the sportswear market.
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The change in the spending behavior of consumers has been envisaged to significantly benefit most retailers positively affected in the U.K. sports market, such as cycling and sportswear. As a result, these retailers could be placed in an advantageous position in the market. On-trend activities and sports incurring restricted overhead expenses have been forecasted to gain a whole lot of demand in the near future. There could be a perpetual shift in consumers prioritizing their spending over core retail sectors and embracing wellness, health, entertainment, and leisure.
As per the analysis presented in the report, a US$1.8 bn growth could be expected on the part of online spending on sports. This could be due to top online shops such as ASOS and Amazon fueling penetration while riding on the trend of department stores and grocers limiting in-store sports ranges and increased ease of access to third party brands. Primarily in the categories of bicycles and sports equipment, the sales performance of physical stores has been envisioned to dwindle by a 3.4% between 2017 and 2022.
Although Sports Direct has been taking a leading position in the U.K. sports market, it could lose its share to closer rivals such as JD Sports and prominent players such as H&M. This has been projected to take shape owing to the company’s slow reaction to the athleisure trend.
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