Economics and Sportswear Industry Essay
Sports Put on Market in India Together with rapid economic growth, large population base, rising earnings levels, changing lifestyle and consumer preferences, India has witnessed tremendous growth inside the sportswear industry over typically the past couple of years. The region has been exploiting the favorable demographics, which help to make it one of the particular most attractive destinations regarding both domestic and world sportswear players to funds on the highly lucrative market. As an effect, all the international gamers, including Nike, Adidas and Reebok, are striving challenging to grab a share of the money-spinning market. http://www. bharatbook. com/detail. asp? id=126899& rt=Sports-Wear-Market-in-India. html ) “Sports Use Market in India” anticipates the current size of the Indian sportswear business worth over INR 355 Billion, which is expected in order to grow at a CAGR of around 45% among 2010 and 2012. The current market estimates and future projections are entirely based on the set of feasible marketplace trends and Indian demographics, which take into thing to consider consumer behavior and spending patterns that may affect growth of the sportswear industry.
Typically the report has studied the Indian sportswear market by simply segmenting it into various subsections – sports footwear and sports apparel, rural/urban divide and gender-wise demand projections. Our extensive study on this industry offers found that the existing sportswear market is centered by the sports apparel sector, but future growth will be driven from the sports footwear segment. The research also elaborates typically the fact that there remains a vast difference inside the buying habits and purchase making decisions of Indian buyers whenever we segment them about the basis of urban/rural divide.