Study reveals increase in demand for women’s sports products, a market valued at US$ 4 billion annually
The women’s sportswear market, recently valued at $4 billion annually, is expanding, according to a joint study by Sports Innovation Lab It is Klarnareleased this Monday (1st July 2024).
The study highlights the sector’s growth potential, driven by a growing demand for a greater variety of products.
The survey, which surveyed 1,000 female sports fans across 7 different markets including the US, UK and Germany, found that female sports fans purchase, on average, more items per year (1.7 items) compared to male sports fans (1.6 items) over a 3-year period.
Additionally, it was noted that 30% of respondents purchase women’s sports merchandise 2 to 4 times per year, while 10% make 5 or more purchases annually.
Interestingly, 67% of women’s sports fans have purchased merchandise even without watching live games, which highlights the loyalty and support fans have for female athletes and teams.
However, the study also highlights significant challenges, such as the difficulty in finding products that meet consumers’ tastes and needs. Around 60% of fans reported intentions to purchase products, but decided against it due to lack of available stock.
Additionally, 60% of women’s sports merchandise shoppers had more trouble finding a style than those who shopped for men’s sports merchandise, and 79% said they would buy more if there were more options available.
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