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Sports Market - Market Review 2008
Key Note Publications Ltd, April 2008, Pages: 182
Sport is constantly in the public eye through the media (including appearances by sports celebrities) and government initiatives, such as the UK’s bid to host the Olympic Games in 2012. Following its success with the ‘London 2012’ campaign, the UK further raised its profile in international sport when Glasgow won the rights to host the Commonwealth Games in 2014. England also intends to bid to host the football World Cup in 2018.
In 2007, UK consumers spent an estimated £9.93bn on sport. This figure covers the cost of participation (including club subscriptions), sports equipment, sports clothing, sports footwear and admissions to live sporting events. Although it sounds impressive, £9.93bn in fact represents only 1.2% of total consumer spending — a share that has declined slightly since 2003. It should be remembered, however, that sport in the UK is heavily subsidised, so the total financial commitment of the nation is far in excess of the value of consumer expenditure. Several billion pounds are spent each year by local authorities, the official Sports Councils and central government (through the Department for Culture, Media and Sport [DCMS]) to ensure that the maximum number of citizens have access to facilities for healthy recreation.
In terms of consumer participation, the major trend of the past 20 years has been the move away from sports and towards ‘pure’ fitness activities. Many modern consumers simply do not have the time to commit themselves to playing competitive sports. Instead, private health clubs and the gyms at local leisure centres have become the focus of their fitness activities. Football remains the dominant sport at the professional level, and it is also the most popular competitive sport for amateurs. According to BMRB International’s 2007 Target Group Index (TGI) survey, 11.6% of adults play football either regularly or occasionally. However, golf (played by 8.9% of adults) is easily the largest market for personal sports equipment.
The sports market is, in most respects, a fairly mature one, and Key Note forecasts a relatively slow growth rate between 2008 and 2012. Current demographic trends bode well for participation, but little growth is expected in the sports-equipment sector, and sportswear’s share of the total clothing and footwear market is shrinking gradually. However, Key Note forecasts a revival in expenditure on spectating, with excitement about the forthcoming London Olympics likely to be a contributing factor.
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