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Sports Market - Market Review 2010
Key Note Publications Ltd, April 2010, Pages: 162
Consumers in the UK spent £10bn on sport in 2008, an expenditure that covers various manifestations of their interest in sport — participation fees such as club memberships, sportswear, personal equipment and the cost of watching live sport. The £10bn figure may sound high, but, in fact, it only accounts for 1% of total consumer spending (i.e. of the average household budget) and the market has been shrinking during the recession.
The relatively low level of spending is due to several factors, including a switch away from competitive sports, which tend to be more expensive, and towards `pure' fitness activities — such as swimming, running or fitness classes in local leisure centres — which cost less. Another factor is the subsidy for sport paid for by central and local government, which ensures that participation is relatively cheap for the household. Following live sport can be expensive but the televised alternative is cheap, paid for largely by advertising and sponsorship.
The 2005 to 2009 period has seen slow growth or even contraction in value for market components such as sportswear — worth £4.53bn, although this includes sportswear used as casual clothing or footwear: `fashion not function' — and equipment (around £1bn), which has inevitably suffered from the move to simple, equipment-free fitness activities. The £3.5bn spent on participation is now dominated by membership fees at private health clubs, to which one in ten adults now belong.
As the health club market matures, contraction has produced a handful of chains led by David Lloyd Leisure, Virgin Active and Fitness First. There has also been contraction in sports retailing, where Mike Ashley's Sports Direct is now easily the largest operator; the owner has also invested in sports brands such as Slazenger and Dunlop and has a high sports profile as Chairman of Newcastle United FC. JJB Sports, Blacks Leisure and JD Sports are other key players in the high street. Overall, however, the largest sports companies by far are the two global sportswear giants, Nike and adidas Group.
Sport in the media is dominated more than ever by the national sport, football, which also ranks as the most widely played competitive sport (5% of adults play regularly, ahead of golf [4.3%], and badminton [2.6%], although these have far fewer participants than swimming, cycling or gym workouts). In 2010, English football is gearing up for a World Cup, while its top clubs play a leading role in the prestigious European tournaments such as the Champions League.
London continues its preparations to host the Olympics in 2012 — to be followed by the Commonwealth Games in Glasgow in 2014 — and research in 2010 found that three-quarters of adults approve of public investment in the Olympics and sport in general. The same research reveals that four out of ten adults see sport as `a big part of their lives'. The main objections raised are: the cost of playing some sports; the price of team replica kit; and, above all, the excessive money made by professionals in some sports.
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