Asia is the world's most dynamic region.
If you stop and think about Asia, you quickly determine that Asia is the go to market for brands, products or services looking to expand. The shear size of Asia is attention seeking. Growth across Asia continues as does their love and enjoyment of sport, their desire for international brands and their acceptance and popularity of online consumer retail.
- Over 50 countries
- Over 50% of the world's population
- Over 60% of the world’s youth live in Asia-Pacific, translating to more than 750 million women and men aged 15 to 24 years
- Asia, the largest and fastest growing consumer market in the world
- Southeast Asia alone 10 currencies, 10 different legal systems, 9 official languages, home to 600 million+ people
- In Malaysia and Singapore, the total hours streamed on e-commerce platforms grew by nearly 200% in 2020
- In the Philippines, 60% of the businesses are integrating live selling to attract buyers.
- The GMV (Gross Merchandise Value) of livestream e-commerce grew by 306% between January & June 2020 across Vietnam, Thailand, Singapore and Philippines.
- As of 2019, the Asian population in the U.S. had a median age of only 34, lower than the nation's overall median of 38. But the median age of U.S.-born Asians was just 19 – compared with 36 among all U.S.-born people. This is the future market we must target and learn to work with.
Asia is dynamic and ever changing, however in order to succeed you need to understand the culture and traditions of Asia and the countries within. Each country is unique and must be treated differently. Before you make any decision on Asia you need to reflect on what you are ideally looking for, who your consumer market is and how you intend to achieve this.
Our tip - Market intelligence is crucial. You need to be selective about markets that you want to enter. Don’t just jump in. Market assessment and intelligence will help to specifically identify the best markets and opportunities for your business.
This is where Sportzplanet can help. Partners in Asia.
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A 'bigger bang for your buck'.
The USA sports market is simply massive. The worlds largest single market by far. For professional sports it's valued at approximately $70 billion, roughly 50% larger than that of Europe, the Middle East, and Africa combined. If you have ever considered business into the USA then the size of sport here will simply stun.
USA's most popular sports,
- American Football (NFL)
- Baseball (MLB)
- Basketball (NBA)
- Ice Hockey (NHL)
- Soccer (Football)
The worlds most valuable sports teams
- Dallas Cowboys (1)
- New York Yankees (2)
- New York Knicks (3)
- Golden State Warriors (6)
- Los Angeles Lakers (7)
- New England Patriots (8)
- New York Giants (9)
- Los Angeles Rams (13)
- San Francisco 49ers (15)
The United States is constantly ranked as among the best for its overall competitiveness and ease of doing business. It is backed by a strong regulatory environment that is positive towards to starting and operating a business. The business culture encourages free enterprise and competition. They say that a new business is born every minute in the US, a free enterprise and encouraging open economic growth.
At Sportzplanet we will help identify and capture the right opportunity . At Sportzplanet we will invest the time it takes to understand your goals and challenges.
Our tip - understand State laws as these vary between states. In the USA you may not be dealing with one national law. And just like in Asia you need to expert assistance on market analysis and consumer demand.
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Asia’s fans lead the way in mobile consumption
Prior to the week of online events in early May 2021, it was confirmed via a report from YouGov that more sports fans in Asia are opting to watch sport on their mobile devices than anywhere else on the planet.
Some of the key findings suggest that 19% of fans globally use mobile apps to watch sport wherein Asia:
44 per cent of Indian sports fans watch sports on mobile devices.
In Vietnam, nearly half (48 per cent) of sports fans watch their sports on mobile devices.
33 per cent of Thais watch sports on mobile devices.
In South Korea, more than a quarter engage with sports online (28 per cent).
The Philippines has the same engagement as Korea at 28 per cent.
Asian Americans & mobile consumption
Asian Americans spend 2.3 hours streaming music and 1.3 hours listening to podcasts on average, as per Pandora’s recent report. The report finds that 62% of Asian Americans feel brands would be more relevant to Asian Americans by reflecting their lifestyle. 52% of the demographic are more attentive towards ads featuring Asian Americans.
50% of Asian Americans believe brands could feature people from diverse cultural backgrounds. 44% of respondents want brands to be honest in how they reflect their culture. Of those polled, 80% say they feel empowered by positive representation of Asians in media.
Also, 54% wished for more US-based content aligned with the Asian culture. When it comes to music, 86% of Asian Americans find it to be relaxing, and 79% say that it improves their mood. 43% find music to be motivating.
Southeast Asia an ideal ground for influencer marketing
Southeast Asia is an exciting ground for influencer marketing. A large numbers of internet users with nearly 90% of them connecting to the internet primarily through smartphones. Southeast Asia's internet economy is thriving and by 2025 it is expected to grow to $300 million. Southeast Asia is a mobile-first region along with its youthful demography and growing popularity of social platforms, Southeast Asia has become an ideal ground for influencer marketing to flourish.
Social media platforms such as Facebook, Instagram, YouTube remain popular in the region, Southeast Asia has largest the share of Tik Tok users. With many new short-video formats coming up lately, there is a wealth of opportunity to drive engagement, increase brand awareness, and reach new audiences for businesses.
Conclusively, brands in the Southeast Asian region are willing to invest in authenticity and a deep understanding of social media platform trends and market- influencer marketing will continue to grow further.
Asia Tech Daily
Small business in the US
There are 30.7 million small businesses in the U.S. which account for 99.9 percent of all U.S. businesses (SBA, 2019).
The Small Business Administration (SBA) defines a small business as a firm which has fewer than 500 employees. This means that many highly valued startups in the U.S fit within this definition of small businesses.
The definition of a small business varies across the world. For comparison, in the European Union any business that has fewer than 50 employees is considered a small business. In Australia, companies with fewer than 15 employees are considered small businesses.
Small business stats show that most businesses in America have fewer than 500 employees. Those businesses with fewer than 100 employees account for 98.2 percent, and those with fewer than 20 employees account for 89 percent of all businesses in the country.
Asia - living the digital life
A recent Deloitte report has found that South and Southeast Asian economies are on a fast track to the ‘digital life,’ owing to a number of ongoing and immediate factors with Singapore and Malaysia are leading the way. In a report produced in collaboration with Inclusion Fintech Conference, Deloitte hints at a digital life being one where consumption, entertainment, business and finance – essentially all walks of life – are or can be managed online.
The firm lists seven metrics of digital life in a market: mobile phone penetration, mobile internet speed, digital payment maturity, online shopping maturity, social media activity and policy support. For a number of reasons, South and Southeast Asia are markets ripe for the adoption of digital life. Front and centre is the sheer size of the region’s population, the majority of which falls in the young working age. Growing up in the era of gadgets and social media, consumers in the region are comfortable with the online paradigm.
The central finding: digital life adoption has been given a boost. In fact, nearly 80% of consumers have increased their use of digital services in light of the pandemic. A key driving force here, according to the research, is digital payments.
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