Sports Economy — Women’s Business Opportunities
In 2020, when no one knows what to think anymore of tomorrow, I asked myself what 2021 will look like — in sports.
It is funny to watch sports journalists argue about trivial things about this season when no one knows what will happen in a month. So I said to myself, take a step ahead and predict the 2021 season. Sports will be back, we will have the best of the best competitions and fans/viewers who will be glad to walk outside and watch new materials.
When I think ahead, I am picturing the Tokyo Olympics and the whole world cheering when the competition is on. Countries parading with their best teams — athletes, coaches, medical teams, etc…
Then I wonder if countries are tapping into the women’s pool. What about the sponsors? They have athletes from Kenya or Ethiopia. Most of them are runners and we don’t usually associate them with a brand — maybe Nike or Adidas — but nothing from outside the athletic gears.
We are in an era when athletes are encouraged to use their platforms to speak about world issues and I am coming from a developed country, it is safe to say that they are so many issues that choosing one becomes a hassle. Nonetheless, athletes are not policy makers, they contribute to shedding a light on social issues. Here is where the opportunities lie for the sponsors.
- When women are sharing stories about adversity, it is less about them as individuals and more about the community — how they can help pull women out of a certain misery. When I speak to friends who are not particularly drawn to sports, they buy in the image that male winners bring — it’s about them and how they are grandiose. When it comes to women, we can’t diminish their accomplishments but when sharing their stories, they bring another layer — a different side of leadership and community. If one athlete was to speak against excision for instance, women in the Middle East/Africa would have an opportunity to hear from a “champion” and this would bring more awareness in the region.
- A story about sisterhood — while we can see sports as a man’s world (beers, bars, and fights), there is a space where women are growing together and it creates a sisterhood bond. I know that I have, had amazing times chatting about Nike vs Adidas, Nadal vs Federer, the NBA players when I was exchanging with my friends — those moments are so much fun that when I meet my friends, we go back there. Who wore what in 2003? Which racquet did Sampras use? Until now, commercials tend to bring the male version of sports — winning has no gender.
3.Middle East / Africa : Untapped potential. Rugby, tennis, swimming, Polo or cricket — these sports either little known or unknown in the regions. Bringing awareness to individuals who understand the spirit of sport is easier. There are already federations present in the regions but less marketing around it — to play these sports is a luxury. Although the luxury sector is in a gestational stage, it is a great opportunity for brands to start there and provides a first mover advantage. Working with locals to understand trends and differentiations provides another edge to the newcomers.
I believe the women’s potential will be seen largely during the Tokyo Olympics with an Ethiopian runner, a Nigerian footballer, a Kenyan rugby player, etc.
It’s about time that brands start to work hand in hand with them.
Last note, Netflix bought the right to a movie about the World Cup — I am so excited to see that storytellers are coming together to bring a story about women, whom we may have forgotten without it. Brandi Chastain wrote a book “It is not about the bra” and the leadership skills she has shown throughout the book is amazing. I am glad to be part of a generation where women’s voices are empowered.
