How Popular are Sporting Goods Worldwide?
Sport is an important industry that generates revenues in multiple ways all over the world. The sports industry in the US generates $414 billion in revenues every year. Sporting goods, apparel, accessories and other equipment contribute to the world economy in a major way and trends show that the sports industry will demonstrate robust growth in the future. Advertising and promotion also makes sporting events money churners for big business. Even the food and beverages industry has made its money by promoting certain products as health foods.
The populations of the developed nations are more health conscious than ever before. Equipment and apparel are all the rage and their popularity is spreading to other nations as well. Sports and health are intrinsically related. Energy drinks and malted drinks are very popular all over the globe as they have been promoted as health drinks during product placement.
Sports and sporting goods have also found increasing demand in the emerging markets. Traditionally sports like Cricket, Hockey, Badminton and Table Tennis were popular in Asia. As China emerges as a premier power to reckon with in the field of sports and with the upcoming Olympic Games that are to take place in 2012, there is sure to be a boost in the demand for sporting goods in the emerging markets like China. More and more youngsters in Asia are being drawn to non conventional sports and helping the sports industry to find new consumers in fresher and larger markets.
A major challenge that the industry faces is the growing need for environmental friendly measures being employed in stadia and ball parks across the world. Energy consumed for lighting and other needs is astronomical. Organizers are reacting to this phenomenon and seeking more green options like using solar energy and other renewable sources.
The global sports industry makes its money from telecasting rights, endorsements and media advertising. Sporting Goods manufacturers like Nike, Adidas, Reebok and Puma enjoy world-wide patronage and are multi billion dollar companies. Even non sportspersons are attracted to these global brands. Shoes, apparel and other accessories are popular for their brand value among all types of customers.
Winter sports and specialist sports like climbing and skydiving etc. require very high quality, tested equipment. Some types of gear are very expensive like those that are required in motor sports, sailing, aeronautics etc. Equipment may have to withstand extreme conditions and stresses. For sports persons, to ensure safety and optimum performance levels it is essential to use only the highest quality of equipment and sporting goods. Bayville residents can find high quality gear in local stores specializing in sports gear.