01 February 2023, Mumbai
The millions of devoted cricket fans in India attest to the fact that devotion is unquestionably a virtue. What some analysts refer to as "cricket fever" is viewed as steadfast support for the Indian squad among Indians.
When a competition like the Cricket World Cup starts, a herd of cricket-obsessed fans rushes in, eager to throw their support behind their side. Due to the excitement, everything related to cricket is given more weight, creating enormous business potential and boosting the economy. Commercialized sports have historically contributed significantly to economic progress in a nation.
The market values the bat and ball industry greatly. The Indian team's early elimination from the 2007 World Cup resulted in significant losses for the competition. In addition to the sponsors, other sectors were also driven into the red. India's World Cup 2015 performance, which included their triumph over longtime foe Pakistan, also portends well for the garment industry.
Not only will the lads be wearing blue, but millions of other fans worldwide will also be donning the hue. Additionally, despite claims to the contrary from other cricket-playing nations, garment sales indicate that India is not alone in this regard. Online shopping has become more commonplace than unusual.
Fans have been thronging on the websites to get genuine ICC cricket accessories because of their valuable benefits. As the official sponsor of Team India, Nike has partnered with online retailer Myntra to offer World Cup 2015 apparel only online. Other online stores like Amazon, which sell t-shirts with images of trophies, the ICC Cricket World Cup logo, etc., in various colors, are drawing customers in addition to Myntra.
Sales in India, Australia, and New Zealand are expected to bring in US$ 10 million for the official web stores of the ICC and ESPN Cricinfo. These retailers stated that the hats and the gold foil print Indian throwback t-shirt, worn by Team India in the 1992 World Cup, are among the items selling the quickest.
Impact of the sports culture on the industry
Although studying and comparing cricket gear prices online is more practical, this has not harmed customer traffic in physical stores. A significant proportion of customers are also drawn to sales at physical stores. Fan favorites like the official Team India hats, t-shirts, and pants are offered on Myntra between INR 1895 and INR 4995.
Still, competition from nearby stores offering cheap knockoffs is worrying. Team India t-shirts, pants, and hats are widely available in India at far lower prices than those found in official retailers. These products, which start at INR 250, are flying off the shelves.
Even if the quality of the clothing and accessories sold in neighborhood stores does not compare to that of official goods, the affordable choice continues to draw buyers.
The World Cup 2015 may seem similar due to stiff competition from fake fan gear, similar to the Cricket World Cup of 2011, where bogus fan cricket gear sales exceeded those of legitimate equipment. Furthermore, sales of inexpensive t-shirts, hats, and other items of other teams are also gaining traction in Australia, the host nation, so these fake clothing and accessories are not just expected to trouble India. However, what distinguishes India's official cricket uniform from others is that the new lightweight outfit, consisting of a t-shirt and pants, is made from an average of 33 recycled plastic bottles.
Although fourteen nations compete in the 2015 Cricket World Cup, India dominates the team merchandise market. Due to the high interest in the matches from Indians throughout the world, the sale of team India's clothing and accessories has surpassed that of other groups.
The official online retailer for the Middle East for the 2015 ICC Cricket World Cup, Souq.com, reports that approximately 60% of purchases are focused on Team India t-shirts, caps, and other memorabilia.
Pakistan comes in second place behind India with a 15% market share, followed by Sri Lanka with a 10% market share.
