SPORTSMATCH
Prospects • Retail Solutions • Network
Singapore's sporting goods industry's primary challenge is planning and forecasting to ensure enough inventory to meet demand, without holding to too many products.
Prospects
Retail Solutions
Network
One of the most valuable assets a sports entity possesses is its brand. SPORTSMATCH continues emphasise our value proposition and messaging, based on our proximity to local distribution consumer segments.
Singapore's sporting goods industry's primary challenge is planning and forecasting
to ensure enough inventory to meet demand, without holding to too many products.
Throughout the world, sports coaches are the gatekeepers of their sport. Which is why SPORTSMATCH has always invested in facilitating collaborative partnerships with coaches and clubs to promote active sport participation in communities & sports clubs.
SPORTSMATCH can always be on the forefront of retail support with an ecosystem of brands that are able to promote greater sales support for retail stores.
Strength of Supply Chain Resilience.
Since the pandemic, rise in sports participation due to rising awareness regarding health, whereby there is increase in physical activity, is fueling demand for licensed sports brands. The expansion of sports to different regions and growing media coverage for different sports has propelled the market growth of sports merchandise.
For SPORTSMATCH, it also requires knowing the best channels for products, how to work with retailers and suppliers for the most efficient results, and how to handle product order patterns, delivery schedules, inventory turns, and receipts.
Athleisure Will Surpass Fashion as Largest Footwear Category in 2023
Athleisure.
Given a more competitive landscape, winning sporting goods retail strategy over the coming year will need to find ways to outperform fashion brands in the growing athleisure segment.
A key advantage general fashion brands have over sporting goods players are their shorter development cycles, allowing them to respond more quickly to consumer trends.
Brands are adopting competitive strategies by investing more to develop new-generation technologies for the production of sports protective equipment, so as to develop a unique product portfolio, further driving the market growth in the region.
Sports Protective Equipment.
The global sports protective equipment market is estimated to register a CAGR of 4.1% during the forecast period (2021-2026). Globally, there has been a significant rise in the prominence of ball sports, owing to the health and wellness trends, the increasing influence of social media, celebrity endorsements, and rise in the number of international sports events are encouraging consumers to enter some of the other sorts of sports activities.
Football and basketball are some of the popular ball sports with a significant amount of sports participation rate, across the world. This, in turn, has increased the demand for ball sports protective equipment, across the world.
Europe holds a significant share in the market, owing to the well-penetrated sports environment and enormous athlete participation rate witnessed in the region. Furthermore, the booming enthusiasm for country-level and international tournaments is gaining tremendous followers in the region and is leading to a large number of athlete admissions every year, which is, therefore, propelling the demand for associated businesses, including sports protective equipment.
In addition, Brands are adopting competitive strategies by investing more to develop new-generation technologies for the production of sports protective equipment, so as to develop a unique product portfolio, further driving the market growth in the region.
The greatest opportunities, meanwhile, are associated with the potential return of large sports events, including, potentially, the Olympics...
The number of people playing tennis at least once a week increased by 34%, after the WTA Finals was held in Singapore.
The greatest opportunities, meanwhile, are associated with the potential return of large sports events, including, potentially, the Olympics and Paralympic games, and the ongoing rise in popularity of outdoor and home sports. Categories that did well in 2021 (including outdoor individual, home exercise, yoga, racket sports, and virtual races) are expected to remain on a high in 2022.
Tennis in Singapore has definitely become more popular as a result of hosting the championships. The WTA Finals gave Singaporeans the opportunity to watch live matches where the legends of women’s tennis like Serena and Venus Williams fight it out with rising stars such as Naomi Osaka and Caroline Garcia. These events serve to create a more vibrant tennis scene in Singapore and introduced Singaporeans to the world of professional tennis by allowing them to get up close to the action.
Singapore Tennis Developments
A new Kallang Tennis Centre (KTC) that will feature up to seven indoor and 12 outdoor courts and integrate green replacements into spaces such as the rooftop, event plaza and outdoor boulevard will be ready by the end of 2022.
The first-class facility will be the showpiece of a vibrant tennis hub to host future world class events.
