NASCAR Merchandise, Will the Growth Stop?

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From its modest beginnings in the South, NASCAR has grown to huge popularity across the entire U.S.A. recently. From the first races conducted in 1948 to the current NEXTEL Cup and Busch series, NASCAR has become arguably the leading spectator sport in America, featuring 75 million rabid fans.

The NASCAR formula is one that no other spectator sport matches. Weekly, the top teams (drivers) are fighting straight up against each other. Unlike, for instance the NFL, where you may have to wait for weeks for that exciting match up, at a NASCAR race, you can watch number 1 versus number 2 every week. It’s virtually like having the U.S. Open of this sport every week.

The NASCAR brand has become recognized around the world as a preeminent sports property. More Fortune 500 firms use investment in NASCAR racing than any other spectator sport. Landor Associates was cited in December 2004 as stating “NASCAR was the #6 brand in 2004 and is predicted to be the #2 brand in 2005, in front of Google and iPod,”

Amazingly, 40% of today’s race fans are women and 53% work in white-collar or skilled labor jobs. And even with this variety, the statistics continue to be solid; annual attendance at race tracks is above 7 million and more than 275 million People view on TV.

Those who monitor the sport attribute several reasons to its’ success. Years of history and a grass origins origin are a few of the factors given for the sport’s popularity. The start of the sport in the “bootlegging” days and the modest start of quite a few of it’s first heroes seems to be a positive factor to fans in this day of the spoiled, indulged, disrespectful pro athlete.

From little local raceways in the South, NASCAR is now big business today. With TV revenues, sponsorship dollars, and licensed product sales, NASCAR generates very big bucks today. NASCAR merchandise gross sales now have grown to pass $2 billion annually and the markets continue to stay strong. This is built upon a 250% gain from 1995 to 2004.

Clothes such as NASCAR jackets, NASCAR jerseys, t-shirts, etc appear to be flourishing in growth as producers release expanded products and are even including more expensive products like leather jackets and specialty things like jewelry. The true fanatic can even dress the entire family unit with recent introductions of complete NASCAR kids clothing and youth lines.

Within the vast NASCAR products market, impressive sub markets pop up. NASCAR collectibles have become large just by themselves. A mixture of products from plaques and autographed photos to diecast cars are snatched up, partially due to growth, but also in hope of growth in value for the collectibles market.

While the NASCAR diecast market has slowed down lately, it is still reasonalbe in size. As drivers switch their paint schemes, it lets producers to expand the product sets several times over in this niche and that helps keep sales moving.

Race followers seem to have a large pocketbook for wares that shows backing for their favored driver, whether it is by donning NASCAR apparel, grabbing accessories for their car or pickup truck, or even decorating their front yard. NASCAR clocks, even blankets, sheets and wall tapestries are appearing in homes everywhere.

Where will it all stop? I don’t believe we know, but when I see corporate secretaries wearing new NASCAR hats and white collar managers donning snazzy NASCAR shirts with pictures of “Junior” plastered on them, I question if there is a limit to this market.