E-commerce market to reach over $20t by 2025
The market will be led by sportswear brands Nike, and Adidas.
The global e-commerce market is expected to be valued at $20.7t by 2025, which will largely be driven by sportswear brands, GlobalData reported.
In its Ecommerce in Sports – Thematic Research, GlobalData found that Nike and Adidas will likely account for 42.8% of the global market shares.
“Nike’s partnership with Michael Jordan, which has existed for over 30 years now, is one of the most successful examples of a brand/athlete partnership, with Jordan now owning his own brand of Jordan products under the Nike umbrella,” Tanveer Aujla, Sport Analyst at GlobalData, said.
“Other significant deals include Nike’s lifetime deal with LeBron James and Adidas’ deal with Lionel Messi.”
Read more: NIKE net income slips by 5% in Q4
Aujla raised that third-party seller shutdowns could pose a challenge to Nike as these sellers prove to contribute a significant amount of profit through online marketplaces.
“Despite Nike’s attempts to stop third-party sellers through partnerships with leading e-commerce companies like Amazon, this has hitherto proved difficult to do due to the sheer size and scale of this unregulated market,” Aujla said.
“However, to enhance their growth – in a way that third parties will find difficult to emulate – both Nike and Adidas have expanded into the metaverse in the last year.”