The sports industry is booming-learn how you can be part of its billion-dollar growth with these strategic tips. This dynamic field offers countless job prospects, company locations, and promising earning opportunities. The Sports Sector is Expected to Reach $623.63 Billion in 2027 at a CAGR of 5 percent. The biggest problem, however, is that this rather opaque field has a highly competitive entry process, unlike more conventional industries. Therefore, strategic planning and a proactive approach are necessary. Here are 10 tips to help YOU establish yourself in the sports industry, along with insights into popular careers within this field.
➡️ Best Paying Sports Jobs 2024
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Physically, mentally, socially - when it comes to staying healthy, sport and exercise play an important role. At the same time, sport and health have a common goal: a long and fulfilling life. People, but also companies and organizations, have become more aware of this.
At the same time, global multi-crises and the intensification of our life realities are demanding both an increased need for services and the development of new, holistic solutions, for example in the area of mental health. The health market is booming accordingly, and holistic concepts offer great potential for the sports industry as a well-known provider of fitness solutions. Sport and health will therefore be considered hand in hand at ISPO Munich 2024.
1.8 billion: That's how many people around the world do too little exercise and do not achieve the recommended level of physical activity, according to WHO data for 2024. Inactivity is the fourth-biggest risk factor for early death and is responsible for 3.2 million deaths every year. The level of physical inactivity varies from region to region. In high-income countries, it is more than twice as high as in low-income countries. In Germany, the figures are already dramatic at a young age: 88 percent of girls and 80 percent of boys aged 11 to 17 do not get enough exercise.
This has long-term and expensive consequences for healthcare systems.
Prevention and health promotion are an important part of the healthcare sector - and are becoming increasingly important in view of these figures. They can reduce the costs of treating and combating diseases in the long term and at the same time lead to a higher quality of life.
There are natural synergies between the sports and health markets, especially thanks to a common goal: promoting activity and therefore general well-being.
The World Federation of the Sporting Goods Industry (WFSGI) has brought together industry leaders such as Nike, Adidas, ASICS and others. The aim of this joint initiative is to create awareness of the problem, promote cooperation within the industry and gain support from governments.
"This fight cannot be tackled by one institution alone, we must all work together." Tobias Gröber, ISPO Executive Director of Consumer Goods
Networking, exchange, best practices in the sports industry and beyond - this is also what the WFSGI panel at ISPO Munich is all about. Together with representatives from companies, politics, the WHO and the World Trade Forum, the current figures will be discussed and greater awareness of the problem will be created:
Consumers are increasingly taking a holistic view of their health and recognizing that physical activity, nutrition and general well-being are interconnected. As sports retail is already known as a popular place to go for expert advice, there are also various opportunities here at the interface with the health segment.
In addition to the integration of health offers and solutions, the topic of nutrition is also a growth market, as nutritional supplements and nutrition plans have now found their way out of their niche between bodybuilding and marathons and into a broader target group. For example, 63% of sports nutrition consumers are interested in improving their general state of health, while 39% are looking to increase their performance. Thinking about sport, exercise and health more holistically and being a common point of contact as a holistic provider of solutions therefore offers future opportunities in retail.
Tech advancements in fitness, including wearables, apps and virtual training platforms, have made sports/fitness activities more accessible, more motivating, and values and health metrics more tangible. The integration of these technologies into studies and research has also contributed to the use of this data gold not only for self-optimization in sport, but also to a greater extent in the area of personalized health.
Fitness trackers and the like enable a more personalized and data-driven approach to wellbeing, from cycle-based workouts to AI-powered and personalized training plans. Tracking and exercise data can also serve as an early warning system for illnesses such as depression. Exciting insights will be provided on December 4, 2024 at Sports Tech Nation, which will take place parallel to ISPO Munich 2024 at the ICM:
Well-being is also becoming increasingly important in the workplace. As a key benefit for the younger generations, corporate health benefits can be a decisive advantage in the war of talent in times of a shortage of skilled workers. The focus here is not only on increasing productivity, but also on preventing absenteeism - and thus reducing costs. Offers here go beyond traditional health insurance offers and instead focus on health offers as a lifestyle-oriented supplement. These include sports and wellness memberships as well as corporate fitness and in-house courses such as yoga or Pilates.
The topic will also find its stage at ISPO Munich 2024: The Talent & Culture Hub addresses topics such as employer branding, recruitment and resilience, recruitment and resilience picks up on the topics that currently affect corporate health. There is also a separate stage here, where the topics of career and corporate health are linked, current innovations are presented and holistic solutions in the healthcare sector are discussed.
In order to further raise awareness of the importance of mental health in the workplace and how important the topic is for employees, organizations and society, this year's Mental Health Day on 10 October focused on the topic of "workplace mental health".
Constant availability and high stress levels, shift work or the demanding task of combining career and family or caring for relatives - the reasons are as varied as the danger is real. According to a survey conducted in 2023, one in five people in Germany rate the risk of burnout as high. Added to this is a general feeling of exhaustion due to the mood of crisis and increased workload, which, according to a study by HelloBetter and Ipsos , is becoming increasingly difficult for people. The reason: the feeling of having no control internally or externally or losing it more and more.
The good news is that digital health applications and new solutions offer additional options, such as psychotherapeutic support, communities or apps for building up regular exercise habits, and therefore a low-threshold option for finding help or doing something for oneself in a shorter space of time.
Closing the circle, sport, physical activity and fitness offerings, as well as mindfulness and a conscious approach, play a decisive role when it comes to building mental strength, resilience and self-esteem, as well as reducing stigma and unhealthy behavior patterns. At the same time, there is a need for further attention and discussion, as governments, organizations and companies have at least as much responsibility as individuals.
In line with all these topics, health and sport are growing ever closer together: also at ISPO Munich 2024. The extensive program also includes a series of specialist congresses at this year's event, offering additional input and interfaces.
For example, therapie MÜNCHEN as a trade fair with a congress for therapy and medical rehabilitation and with confirmed exhibitors such as crosscorpo, Zimmer MedizinSysteme, SCHNELL Trainingsgeräte, Buchner & Partner, Schupp & David, SOVDWAER, opta data, BTL Medizintechnik, Stolzenberg & Dynamed, ARTZT, NAGGURA can be visited with the ISPO Munich ticket:
Ready to get involved in the Sport Health hot topic, have your say or get in touch with the health megatrend? Dive deeper into the topic with like-minded people at ISPO Munich, be inspired by the current discussions and get to know the innovations at the interface between sport and health.
How important is resilience? Whether in running or in life: Resilience is like a multiplication factor. If it has a value of zero, you always end up with zero. Resilience plays a particularly important role in unexpected turns and initially unwanted changes. It often determines victory or defeat and in extreme situations sometimes even life and death, both on the mountain and in business.
How discipline is fun
How to train discipline
Discipline and self-confidence
Actionable steps and strategies for individuals to build resilience in the workplace.
Resilience is a key factor in overcoming crises in a way that conserves resources - both in the Ultratrail and in companies. So the interesting question is: can you train resilience? I can do this very well when running an ultra trail. A marathon or the necessary stamina for other sports is certainly enough. Regardless of your sporting discipline, you need the necessary discipline to achieve challenging goals and this can easily be trained in everyday working life. Wait a minute, I was just talking about resilience and now I'm talking about discipline. Discipline is like FC Bayern or corona rules: There are always fans and opponents. I didn't use to be a fan of discipline. Until I realized that eating a bar of chocolate can be just as disciplined as eating a salad.
Below you will find out why discipline is so important for resilience, how discipline is fun, how it can be practiced in everyday life (without spending extra time), how discipline and self-confidence are connected and what everyone can do to get the best out of unwanted, unplanned situations for themselves and those around them.
By dividing the big goal, in my case a finish at the Tor des Géants, into many small stages, which you can achieve and implement with discipline and your method of time management, even in a busy and packed working day, you will gradually gain self-confidence and at the same time get closer to your goal. You don't run an ultra trail over 100, 200 or 300 kilometers, but from aid station to aid station, from checkpoint to checkpoint, and in difficult moments only the next step counts. And then another and another and another. The more challenging the situation, the smaller your sub-goals need to be so that they remain achievable.
Bonus point: master unexpected changes with discipline, resilience and self-confidence.
Whenever things go differently than desired or planned, this requires us to rethink and adapt to the new conditions. Social scientists and change managers explain the consistent reaction pattern to such changes using the well-known Kübler-Ross model, among other things. The model originally comes from the phases of coping with grief. The death of a loved one is certainly an extreme example of an unwanted change. Social scientists have also found comparable reaction patterns in other adjustment processes. I use this model to show you a way, based on my experience on the mountain and in business, that will enable you to move from the first to the last phase in a way that conserves resources:
In 2023, I signed up for the TOR again with the question: How can I manage to be seventeen hours faster? With so little sleep from 2019 and with poorer muscular conditions than after optimal training with two healthy legs?
The answer: I have to manage to get to phase 4 (acceptance) when unexpected events occur without losing time or energy, not let myself be thrown off course, reorient myself briefly if necessary and accept everything that I cannot change as it is in order to make the best of it. A thunderstorm on the pass, hail in an open field, trails that turned into torrents, constant rain with a landslide, a broken pole and then the cold. I had the opportunity to practise. 127 hours 32 minutes and 35 seconds - to the finish.
With the new "Sport Marke Medien" congress, which will celebrate its premiere at ISPO Munich in December, a strong platform for the future of the sports business is being formed. 1000 participants are expected to attend the first event. Renowned congress partners as well as hidden champions will participate in the program.
On December 2 and 3, 2024, the new Sport Marke Medien congress will take place for the first time at ISPO Munich. The event aims to address the current challenges for all sports. To this end, think tanks were set up in advance and the focus was on sponsorship and financing, event management, transformation, media rights and communication as well as the new role of athletes.
Hans-Willy Brockes, the organizer of the congress, clearly describes the vision behind Sport Marke Medien: "Instead of navel-gazing with sales presentations, SPORT MARKE MEDIEN should capture the current problems in depth. To this end, we are working intensively with our partners on the design of the program. They not only contribute their expertise, but also their networks, which creates enormous added value for the participants."
Premium partners include APA - Brands Events Solutions, an expert in brand and event staging, and the CAPABLE Experience Agency, which creates impressive brand experiences for consumers. The German Tennis Federation (DTB) is also on board, as is IST-Hochschule as a career partner that specializes in training and further education in the sports sector and is on site with talent recruiting.
Losberger De Boer, the world's leading provider of temporary space solutions, will also be actively involved on site. We will also receive support from SPONTENT for the technical implementation of the cast sessions. ONE8Y, the congress's market intelligence partner, and sportsevision, which optimally stages brands and sporting events, round off the list of premium partners.
A new addition is The Sports People, a consulting agency with clients such as FC Bayern Munich and the German Football League (DFL), which is contributing its expertise in brand strategy and sponsorship to the congress.
But why is this congress so important right now? The sports industry is facing massive changes: Digitalization, sustainability, inclusion and the growing role of artificial intelligence require new approaches to brand communication and sponsor activation. Topics that will be explored in depth at the congress.
"The combination of top-class partners and innovative topics ensures that we are creating a forward-looking event," explains Hans-Willy Brockes. His aim is to develop new perspectives and solutions for the sports business with strong partners.
The congress is aimed at decision-makers and experts from the worlds of sport, business and media. The broad range of topics - from the role of sponsorship in women's sports to the importance of data and artificial intelligence to new business models in sports management - suggests that Sport Marke Medien will be a relevant driver for the future of the sports business.
With its partners, Brockes is creating a strong foundation that could extend far beyond ISPO Munich.
Launching a business is easy; it’s the expansion that can be tricky—especially when it involves trading the safety of local markets for the unfamiliarity of foreign shores. But it's by pushing past these challenges that real revenue and recognition start rolling in. Global expansion is the new arena where brands are battling to beat the competition and stay relevant. So, how can your brand leverage fast-growing, high-potential foreign markets? Here are some useful strategies and tips, along with inspiration from brands that have done it right!
Market dynamics are particularly important for sportswear brands, as the global market size is projected to grow from $412.82 billion in 2022 to $748.79 billion by 2031. And the forces shaping the market dictate the direction a brand needs to follow. Let’s take a look at the trends and drivers of global expansion.
Traditionally, North America and Europe have been the key players in the sportswear market, fueled by strong government investments and a passionate consumer base. In fact, North America leads the sportswear market with a share of 45% in global revenues.
But now, it’s the previously overlooked markets like Asia-Pacific, the Middle East, Africa, and Latin America where the real growth is happening. A rising middle class, a youthful population, increasing disposable incomes, and greater government support for sports are driving demand. The Asia-Pacific (APAC) region is expected to grow at a solid 8.6% CAGR, making it impossible for brands to ignore.
Meanwhile, the LAMEA region (Latin America, Middle East, and Africa)—with standout countries like Brazil, Saudi Arabia, the UAE, and South Africa—is also showing promising growth. Although the current boom is concentrated in just a few countries, this is expected to expand, offering brands an exciting opportunity for the future.
Geographic diversification offers a reliable shield against the vagaries of the market. In times of economic downturn, having a presence in international markets can protect a company’s bottom line. This is possible because the negative growth in one market can be offset by improved performance in another. It is therefore a strategic response to adapt to minimise risk and achieve operational flexibility.
Expanding your business into an untapped market gives you a natural advantage over the competition. Being the first to introduce a product instantly boosts brand recognition and awareness. First movers also benefit from early access to key resources like talent, technology, and prime locations. Take Nike, for example—they've been in China since 1981 and have firmly cemented their brand in the minds of consumers. By 2023, they held the largest share (17.9%) of the Chinese athletic apparel market.
Product diversification can be both a cause and effect of expanding globally. As a cause, it gives companies a reason to explore untapped markets to test new product lines. They can introduce new products and unique products to overcome saturation in the home market and efficiently utilise manufacturing resources.
Product diversification can also be an effect of entering a new market. Brands like Puma adapt their products to regional preferences as a strategy to succeed in overseas markets. A case in point is Puma’s range of cricket-specific apparel to cater to the Indian demographic.
When expanding internationally, businesses typically adopt one of three strategic pathways, each differing in its degree of centralization and focus. A multidomestic strategy emphasises adapting to local markets, allowing brands to tailor their products and operations to specific regions. For instance, Puma's “China-for-China” strategy involves designing collections based on Chinese preferences and adjusting its distribution and store experience to suit the local market. In contrast, a global strategy is more centralised, prioritising efficiency over localization. This approach often sees less adaptation to local needs, which can lead to challenges, as seen with Decathlon's struggles in China due to its insufficient localization. A transnational strategy, on the other hand, seeks a middle ground, blending efficiency with some degree of localization. Adidas exemplifies this approach by maintaining a globally integrated marketing and supply chain system while still curating regional nuances.
So, which one should you select for your brand? Entry mode selection is a crucial aspect that requires a thorough analysis of internal and external factors. The decision will depend on the social, political, environmental, and economic conditions in the target market and the risk appetite of your brand. Broadly speaking there are two modes of international entry:
1) Non-equity modes like exports, licensing, and franchising rely on contractual arrangements and do not involve any equity investment. Such methods are preferable for countries where the resource advantage is high, the market is uncertain, or you are testing a new product.
Example: American Sportswear brand, Under Armour, has recently entered Brazil by signing an agreement with Brazil-based Vulcabras, for exclusive distribution and licensing of its products in the country.
2) Equity modes of entry, like joint ventures and Foreign Direct Investments involve direct investments by the company. Such modes are high-risk but also offer greater market control to the company. As such they are utilised best in markets where companies have high commitment.
Example: Adidas entered the Indian market in 1996 by setting up a 100% subsidiary and eventually entering into a JV with Magnum International and holding 80% equity.
There is no singular approach to business success in international markets. Rather it is a culmination of tactics applied in the right scenario and at the opportune time. Below are a few strategies to navigate the complex waters of foreign shores.
Adapting your product to the local flavor is crucial when entering a foreign market. How well your product responds to and understands the consumer's preferences will determine your brand’s success. In fact, highly successful brands are moving towards hyper-localization to overcome the intense competition. Nike practices this strategy in all new markets that it enters. In China, for example, it caters to the Chinese taste by incorporating red and gold colors that reflect traditional Chinese design elements. It has also set up a creative studio, Icon Shanghai, specifically with the intent of translating its global messaging to content that resonates locally.
This strategy of localization is not limited to the product but extends to brand communication as well. The entire marketing and advertising mix must be designed to build an emotional connection with the customer. This is exactly how Puma operates. To maintain strong local relevance, Puma puts immense focus on sports, brand ambassadors, and communication in each market. Some examples of this strategy are Puma’s presence on locally popular chat platforms like Weibo and WeChat in China, partnering with Virat Kohli for the cricket-crazy Indian market, and launching football-focused collections in Brazil.
Collaborations and cross-partnerships can help brands gain unique insights and local perspectives. This creativity can be leveraged to adapt better to market conditions and respond more quickly in a crisis. Cross-industry collaborations also offer new revenue streams and a more agile business model. Take the Decathlon Partnership Program, for example, which has helped the brand penetrate deeper into the cultures of new markets. Any organisation with sports or a healthy lifestyle as its focus can partner with Decathlon. By offering community space, introducing new games, hosting events, and more, Decathlon is able to leverage its existing customer base to expand its reach.
Most companies stop market research once the business is established in a country. However, this process needs to be ongoing. Markets and consumers are constantly evolving, and to stay in sync, brands must do the same. This is especially true in foreign markets where a brand is still establishing its presence. Local players often have a deeper understanding of the market, giving them a natural advantage. Ongoing research can help offset this to some extent. By continually studying the market, you can uncover new opportunities and gain a comprehensive understanding of the competition. Both factors help your brand improve its offerings and stay ahead. Brands like Adidas conduct extensive market research to deepen their understanding of the consumer. These insights are then used to design more effective market and product strategies. As Joseph Godsey, Global Head of Digital Brand Commerce at Adidas, says: “As an organisation, we openly talk about the importance of taking risks and the important role innovation plays in everyday work. We’re better at both when we’re using data and insights.”
Of all the elements in the international marketing mix, price is the most relevant in emerging markets. Consumers in developing nations tend to be extremely price-sensitive and value-conscious. These markets are highly competitive, with numerous international and local players vying to acquire and retain customers. Therefore, your pricing strategy must be carefully evaluated and implemented. The key is to reflect your product’s value while staying within the customer's budget. Many brands offer both budget-friendly and high-end options to cater to emerging markets.
Consider Columbia Sportswear’s value-based pricing strategy. The brand’s pricing is based on a careful assessment of the product’s features, perceived value, and benefits. However, they also charge premium prices for products that include special features, such as their omni-heat reflective technology for improved insulation.
Global ecommerce is currently at an estimated 5.8 trillion U.S. dollars and is further expected to grow by 9.49% in the 2024-2029 period. The digital world is the easiest way to take your products to new markets and establish a presence. Regardless of the region, the most important aspect of online sales today is a strong website and social media presence. Take a page out of Puma’s ecommerce strategy to understand the power of online sales. Puma leverages cloud data, analytics, and AI solutions to enhance the online retail experience. The brand has partnered with several tech companies to improve various aspects of its digital presence, including its mobile app. Additionally, Puma actively collaborates with celebrities and social media influencers to promote both existing and new collections. The result has been a sharp increase in sales and a deeper understanding of consumer needs.
Canadian theorist Marshall McLuhan believed that technology would transform the world into a global village, where everything is interconnected. This concept extends to businesses as well. As the demand for fitness and sports grows worldwide, the time is ripe for sportswear brands to expand and explore new markets.