Global Online Sports Retailer Market 2023-2030

Global Online Sports Retailer Market 2023-2030

Global Online Sports Retailer Market Size, Share & Trends Analysis Report by Type (Sports Equipment, Sports Apparel, Sports Footwear, and Other) and by Application (Men, Women, and Children) Forecast Period (2023-2030)

The global online sports retailer market is anticipated to grow at a significant CAGR of 9.8% during the forecast period. The growth of the market is attributed to the factors such as the rapid increase in internet penetration and the widespread adoption of e-commerce platforms across the globe. For instance, Walmart Inc., has 230 million customers who visit more than 10,500 stores and numerous eCommerce websites under 46 banners in 24 countries, and its eCommerce business’s net sales was $73 Billion. In addition, the partnership and collaboration to accelerate the e-commerce business buy the key players propelling the market growth. In 2022, PUMA SE invested in partnerships to accelerate and better use more sustainable materials amounts to over $1.10 million, and Walmart Inc., invested $13 Billion in CapEx for growth.

Segmental Outlook

The global online sports retailer market is segmented based on its type and application. Based on its type, the market is segmented into a sports equipment, sports apparel, sports footwear, and other. Further, based on the application, the market is segmented into men, women and children. Among the type segment, the sports equipment is anticipated to hold a prominent market share over the forecast period, owing to the increasing participation in sports and fitness activities, and growing health and wellness awareness.

Women Sub-Segment is Anticipated to Hold a Prominent Share in the Global Online Sports Retailer Market

Among the application segment, women sub-segment is anticipated to register significant growth for the forecast period. The growth of the market is led by the rising participation of women in sports and fitness activities across the globe. Women's engagement in various sports, including team sports, individual athletics, and fitness activities, has witnessed substantial growth in recent years. In Tokyo Olympic 2020, women accounted for more than 48% of the participants, there were 5,457 women out of 11,420 athletes, compared with 23% at the 1984 games in Los Angeles, and just over 13.0% at the 1964 games in Tokyo.

Additionally, improving the representation of women among other key functions at the Olympic Games, including coaches, technical officials and games team leadership, continues to be a priority for the IOC. In Tokyo 2020, 20.0% of National Olympic Committee Chef de Missions were women, 38.0% of Accredited International Technical Officials were women.

Regional Outlook

The global online sports retailer market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America).The market can be analyzed for a particular region or country level as per the requirement. Among these, the Asia-Pacific region is projected to experience considerable growth in the online sports retailer market, owing to the shift in consumer preferences towards health and fitness and increasing adoption of smartphones and mobile commerce.

The North America Held a Significant Share in the Global Online Sports Retailer Market

Among all the region, the North America held a significant share of the online sports retailer market during the forecast period. The growing availability of affordable internet access, especially in developing regions such as North America, has led to a substantial rise in the number of online shoppers, including sports enthusiasts. As more consumers embrace online shopping for sports-related products, the demand for online sports retailers continues to surge. In resulted, in North America, in 2022, NIKE’s revenue was increased 25%, driven by strong digital sales growth of 30%, comparable store sales growth of 17% and the addition of new stores.

Further, rising investment, partnership and collaboration to improve customer experience is propelling the growth of the market. For instance, in August 2021 Nextech AR Solutions Corp. came into the partnership Kohls Corp., (store chains in the US). Through this partnership, Kohls significantly scaled WebAR for Ecommerce, creating thousands of new 3D models that enhanced the augmented reality experience for Kohls' customers.

Market Players Outlook

The major companies serving the global online sports retailer market include Nike, Inc., Walmart Inc., PUMA SE, Decathlon USA LLC, DICK'S Sporting Goods, Inc., Decathlon USA LLC, ADIDAS AG, Recreational Equipment, Inc., Alibaba Group Holding Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in June 2023, LaLiga Group International, S.L., came into partnership with Fanatics, Inc., with the ecommerce platform for Spanish soccer’s top two tiers to launch the online shop.

The Report Covers

Market value data analysis of 2022and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global online sports retailer market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.