LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global online sports retailing market provides an analysis on the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Sharan Jagannath, a lead analyst from Technavio, specializing in research on retail goods and services sector says, “Major growth drivers for the global online sports retailing market include increasing disposable income and a growing awareness of the benefits of leading a healthy lifestyle.”
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The top three emerging market trends driving the global online sports retailing market according to Technavio research analysts are:
- Mobile commerce and network marketing
- Social media presence
- Increased demand for eco-friendly products
Mobile commerce and network marketing
The increasing emphasis on mobile commerce is mainly driven by the wide penetration of mobile phones and the development of mobile applications by retailers such as Amazon, Flipkart, and Alibaba.
With the increase in the popularity of shopping through mobile devices, retail sales with the use of these devices are likely to grow. Most of the orders via smartphones are placed for apparel, sports gear, mobile devices, skin care products, and hair care.
“Mobile applications enable users to shop conveniently with their mobile devices. The use of mobile wallets is expected to grow in the future as consumers are becoming more comfortable with electronic cash,” says Sharan.
Social media presence
Social media plays a significant role in the decision-making process while shopping online. For online retailers, the platform is not only restricted to connect and gain feedback from customers, but will also act as a decisive tool for creating new products, understanding latest trends and interests, consumer experiences, tracking brand and product reviews, and launching marketing campaigns. YouTube, Instagram, and Pinterest are some of the popular social media platforms used by most online retailers for their product launch and campaigns.
Social media plays a pivotal role in increasing product awareness. Consumers today are more engaged in social networking and blogs and therefore, vendors prefer to use social media to increase awareness and promote their products.
Increased demand for eco-friendly products
The global online sports retailing market is expected to witness an increase in the demand for eco-friendly raw materials in sports equipment. Organic cotton, water-based adhesives, and recycled plastic materials are replacing the traditional leather, synthetic rubber, polyurethane, nylon, and other synthetic materials in the manufacturing process.
The newly developed and advanced non-toxic material called Thermoplastic Elastomer is being increasingly used in sports equipment, making them eco-friendly in nature. Niche sports equipment such as golf balls are being made eco-friendly by making them water soluble. For example, Dixon Golf's, eco-friendly golf balls are named after the four elements of nature, namely, fire, earth, water, and air, thereby providing it an eco-friendly appeal and brand identity.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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