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The Hidden Opportunity: Sports to Get Online Kick
The Franchising World
|September 2016
Lack of organised retail has made way for sports good manufacturers to enter e-commerce. Though, online sports retail is a small segment but it is growing at a very fast pace with a growth rate of over 30 per cent.
The sports and toys market in India is estimated to reach $15 billion by 2020, which currently stands at $5 billion, growing at a compounded annual growth rate (CAGR) of 30-35 per cent.
As the country is moving towards development and urbanisation, the demand for sports goods equipments is increasing. Factors such as budding awareness of the urban, middle and high-income population about fitness have boosted the sports equipment market in India. It has been observed that with global integration, the culture of workplace is changing. Further, India has been keenly active in hosting international sports events such as commonwealth, cricket tournaments, etc and also making its way into promoting new talent through initiatives as ISL, Pro Kabaddi League, IPL, et al.
Amit Narang, MD, Playmart India, says, “There is a lot of potential in retailing Sports and Fitness products in India. As the income levels are rising, people are getting health conscious.”
The game is changing
This story is from the September 2016 edition of The Franchising World.
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