The market of sports and fitness in India is a place where there is a scope for all kinds of business to flourish. One such business is the business of sports and fitness. This business is not only flourishing in India but also is contributing to the economy of our country. Although this market has always had seen an overall good revenue growth in terms of sales of products, in recent times the profit margin of this business of sports and fitness has also escalated real quick!
Now there are so many factors which have led to the business of sports and fitness market reach at a position that so many other fields of business are still struggling to be at. These factors are as following-
- The globalization of sports and fitness market
The basic idea of the globalization of sports and fitness market is to expand this market all over the world. The foundation of modern sports was laid in the early to mid 19th century when countries like the United States and Britain had began to take interest in the business aspects of both sports and fitness and started taking it professionally. The business that started in a small land with limited access began to set up its franchise in other countries. And this led to an increase in demand which eventually led to an increase in the revenue growth. By adopting the same strategy today the Indian market too has been successful in setting up its base in foreign lands. Not to forget, even the fitness industry is some or the other perishing in India due to the influence of western countries.
- Increase in the number of types of sports and fitness activities
Earlier people in India took interest only in two sports. The first one was hockey in the 60s and later came the cricket during the 80s. Fans went gaga over the players when they used to bring gold or a cup for the country and wanted to be like. This led to the market of sports industry which sold various hockey and majorly cricket related stuff advertised by the famous sportsmen of that time. Thus cricket played an important role in establishing the business of sports and fitness in India. But cricket alone couldn’t carry the entire burden of the market on its shoulders. Thankfully, due to the globalization other sports like football, volleyball etc came in India even when they weren’t played professionally on the Indian ground. Slowly and eventually, sports like Polo, Snooker, Wrestling, boxing came in vogue. This led to the growth of market as people started playing different sports which led to an increased number of demands.
- Influence of social media exposure
In the world of internet that we are living today, almost everything is influenced by the social media. Be it sports or fitness, social media has created a buzz all over the world. Social media allows people to post a part of their daily activities online. Be it regular gym posts, or heavy exercise routines, to stunningly fit body pictures, everything is on social media. And since these things can be found on all platforms one simply can’t avoid but take a dive in it. Such is its influence that even the laziest of them all will for at least once drag themselves out of their beds and go to fitness or a sports club. Thus when more people enter in this field , the demand of such products will increases as well leading to an increase in the overall growth of this market.
- Increase in profit and growth revenue
This is the main reason for such massive popularity that the business of sports and fitness has gained over time. This field produces a good profit margin and hence a decent revenue growth. There is a reason why it gives profit. Sports and fitness is a field in which the demand of customers never ends. After all everybody wants to be fit and look good. And nothing but being active sports and fitness activities can help them achieve this. Thus unlike other businesses, this field has no such future of coming to an end as there is an always some profit.
- Increase of the competition in the market-
In India, since the time Modi ji has started promoting the famous “Make in India” project, so many start ups are being created on a daily basis. Some of which have a focus on the sports and fitness market. Now there are already some of the national and international brands who have firmly established themselves in this business. And with the small companies trying to make a space for themselves, the competition has fueled even more. This scenario has led to the production of more products of good quality and affordable price because the majority of buyers come from the middle class background. Thus when good quality products are sold in the market of affordable prices, the number of buyer increases which lead to an increase in the demand. This automatically leads to the profit of the companies.
- Involvement of women in the business of sports and fitness- Women are the paragon of success. Where-ever they set their foot, a positive growth is seen. In recent times, India has since quite a change in the way people have started treating women. Women are being encouraged in every field be it science, art, sports, finance everywhere. The involvement of women in the business of sports and fitness has led to the betterment of this field. Also there are several sports clubs ad fitness health centers especially for women. This has led to more women come and join such places. This in many ways has led to the profit of business of sports and fitness.
This industry of sports and fitness has come a long way from what it was a century ago. Form people not taking any interest in this field, to a mass number of people having started contributing to this market in some or the other, the sports and fitness business has seen more profits than losses. And all the above factors have played a key role in leading this industry to what it is today.