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Home » Companies Capture $4 Billion Share of Women’s Sporting Goods Market
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Companies Capture $4 Billion Share of Women’s Sporting Goods Market

i2wtcBy i2wtcJune 26, 2024No Comments5 Mins Read
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Ali Krieger knows the frustration her family and friends feel when they can’t find her jersey, whether it’s for the U.S. national team or her NWSL club team.

Back in 2016, Krieger was looking for a Sue Bird jersey. She didn’t really care if it was the Seattle Storm, Team USA, or anything else. She just wanted the jersey of her friend, who was the most famous and popular US women’s basketball player at the time.

But most sporting goods stores didn’t carry the jerseys in stores or online, and when Krieger found a website that carried Bird jerseys, they were either sold out or didn’t have her size in stock.

“I’d been looking for a Sue Bird jersey for a long time,” the two-time World Cup champion said, “and finally I thought, ‘I’m going to reach out to her and see if she can point me in the right direction.’ But not everyone has that luxury.”

A lack of merchandise options, or even merchandise at all, isn’t just a hassle for women’s sports fans. It’s another example of the economic inequality that has stifled the development of women’s sports. And it’s costing the companies, teams and leagues that make and sell the merchandise $4 billion a year, according to a new data analysis by Klarna and the Sports Innovation Lab released Wednesday.

Yes, $4 billion. With a B.

“There’s a big market here, and like everything else in women’s sports, it’s underserved and misunderstood, but there are some very easy ways to fix that,” Angela Ruggiero, co-founder and CEO of the Sports Innovation Lab and a Hall of Fame ice hockey player, told USA Today Sports.

“When you’re wearing the jersey, you’re a walking billboard. It’s free marketing,” Ruggiero added. “So, you’re just wasting money.”

Jerseys like Seattle Storm player Sue Bird's No. 10 are in high demand.

For decades, women’s sports has been treated more like a charity than a money-making opportunity, with minimal investment and equally paltry exposure. But three years ago, the Sports Innovation Lab launched “The Fan Project,” designed to question the notion that there’s no market for women’s sports and show how companies and leagues are hurting themselves as a result.

The new study Rep Her: Uncovering an unmet demand for women’s sports equipmentresearched the product using surveys of fans, analysis of Klarna purchasing habits, transaction data, in-store products and Google Trends. As well as calculating the value of a largely untapped market, the research found that:

  • 60% of female sports fans have wanted to buy merchandise but have been unable to do so due to a lack of stock.
  • 79% of fans said they would buy more sports merchandise if it was available for women.
  • For every nine men’s sports products, there is one women’s sports product.
  • The difference is especially stark when it comes to hats, with NBA options outnumbering WNBA options by 66 times.
  • 67% have purchased women’s sports goods without attending a sporting event

“We all knew demand outstripped supply because we had unsold inventory, but to have 60 percent try and not be able to buy felt astronomical. I can’t think of any other industry that can’t solve this right away,” said Gina Waldhorn, chief marketing officer at the Sports Innovation Lab.

“Yes, they want style that suits them, but they also want more T-shirts and hats,” Waldhorn says. “Just give them the basics.”

And don’t just go with the typical women’s “answer”: shrink it and make it pink, or slap a women’s team logo on a men’s product. Female sports fans want products designed for them, made in styles and fabrics that are comfortable and flattering, and they want the same wide variety of products as men’s sports.

This doesn’t just apply to clothing – think key chains, number plate holders, glasses, mugs, etc. Fans of men’s sports want these things, so why would decision-makers assume fans of women’s sports don’t too?

“The most common assumption is that there are no customers for women’s sportswear, but that’s simply not true,” says Megan Gokey, head of B2C marketing in North America and the UK at Klarna, an e-commerce online shopping hub and payment processor.

“By publicizing this, we’re trying to raise awareness that this is a real issue,” Gokey said. “The opportunity is there, the fans want it, the demand is there. The supply just needs to catch up.”

opinion:‘Everything is changing’: Women’s sports will pay off for those who invest now

While manufacturers and retailers are missing out on profits, teams and leagues are also suffering losses.

When fans wear merchandise, it increases brand recognition. The New York Yankees and Dallas Cowboys are popular around the world not just because of their play and history, but also because of the people wearing their jerseys, t-shirts, caps, and jackets. Not everyone who sees a Caitlin Clark t-shirt or an Alex Morgan jersey is going to buy a ticket to a game, but seeing a bunch of these items might make them want to check out the team.

And as the market for women’s sports grows, teams and leagues may lose control over revenue streams from sponsors and broadcasters, but they can control the amount of merchandise they sell.

“There are a lot of inequalities between men’s and women’s sports and this is one of them, but it probably hasn’t been noticed until now,” Gokey said.

The report aims to get the attention of decision makers, but change will take time. In the meantime, Klarna is creating a women’s sports presence on its website and app to help fans avoid having to hunt around for merchandise.

Klarna has also partnered with women-owned media and merchandise company Togethxr to create a limited-edition collection of t-shirts and tote bags, with a portion of proceeds going to the Women’s Sports Foundation.

“Women’s sports is moving in a very progressive way, and very quickly,” said Krieger, who is working on a merchandise collection with Klarna and Togethxr. “If we don’t get on board now, it’s going to be too late.”

It’s a perfect slogan for a t-shirt.

Follow USA TODAY Sports columnist Nancy Armour on social media @nrarmour.



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