In the new episode of the EGN podcast, Dr. Armand Farsi, Head of DACH + Connected Commerce at Fanatics Inc., offered a deep dive into the world of sports merchandise. Have you ever wondered about its challenges? If so, this is something just for you!
Dr. Armand Farsi began our talk by highlighting that managing a merchandise business is far more complex than it appears, especially when compared to the predictability of the fashion industry. In sports merchandise products can be “timed”—linked to specific events like a game victory—or “timeless,” such as general team merchandise.
It comes with some difficulties. For example, Dr. Farsi shared with us that managing inventory presents a significant challenge due to the unpredictable nature of sports events, such as game wins or player transfers. He explained that Fanatics navigates this complexity by using a combination of historical data, social listening, and qualitative assessments to forecast demand and ensure they can meet consumer needs without overstocking.
Community is Key
One of the crucial insights Dr. Farsi shared with us is the modern consumer’s desire for experiences and a sense of community. Fanatics taps into this need by focusing on enhancing fan engagement through their products and services. They have come to realize that their primary asset lies in their relationships with sports fans, more than their technology or infrastructure.
Expanding beyond traditional merchandise, Fanatics is branching into new areas such as collectibles, betting and gaming, live shopping, and events, aiming to create comprehensive experiences for fans. One of their latest initiatives includes hosting large-scale events that bring fans closer to their favorite sports and athletes, blending entertainment with merchandise.
The Road Ahead
Looking ahead, Fanatics explore the potential of artificial intelligence to improve both internal processes and customer interactions. They are also keenly observing trends in social commerce and the influence of super apps from markets like China, recognizing the need to adapt and innovate continuously.
Want to hear about it and more yourself? Watch the full talk here:
Can’t watch? No problem. It is also available on Spotify and Apple Podcast.
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