NASCAR's Popularity Continues to Soar, Including Merchandise Sales

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From its humble roots in the Southland, NASCAR racing has grown to immense popularity across the whole nation lately. From the 1st races held in 1948 to today's NEXTEL Cup and Busch series, NASCAR has become arguably the number one spectator sport in The United States, boasting 75 million loyal fans.

The NASCAR brand is recognized worldwide as a leading sports property. More Fortune 500 companies use investment in NASCAR racing than any other sport. Landor Associates was quoted in December 2004 as stating “NASCAR was the #6 brand in 2004 and is projected to be the #2 brand in 2005, ahead 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 strong; yearly attendance at races is over 7 million and over 275 million People follow on the tube.

Those who observe the circuit attribute several factors to its’ success. Decades of history and a grass origins beginning are a few of the factors given for the sport’s growth. The start of the sport in the “bootlegging” days and the humble start of several of it’s initial heroes seems to be a positive factor to buffs in this day of the spoiled, indulged, cocky professional athlete.

The NASCAR formula is one that no other spectator sport uses. Weekly, the top teams (drivers) are brawling head to head against each other. Unlike, for example the NFL, where you might have to wait weeks for that big competition, at a NASCAR race, you can watch number 1 versus number 2 every week. It’s practically like having the U.S. Open of this sport every week.

From small local courses in the Southland, NASCAR is big business today. With TV revenues, sponsorship money, and licensed product sales, NASCAR generates huge bucks today. NASCAR merchandise sales now have grown to over $2 billion annually and the markets continue to stay strong. This is built upon a 250% gain from 1995 to 2004.

Race fans seem to have a vast appetite for wares that show their feelings, whether it is by wearing NASCAR apparel reflecting their favorite driver, buying accessories for their car or truck, or even decorating their house. Decorative, unique NASCAR wall clocks, desk clocks, even NASCAR throw blankets and pillows are appearing in homes everywhere.

Within the big NASCAR merchandise market, impressive sub markets come out. The vast numbers NASCAR collectible items are a big market just by themselves. A diversity of items from plaques and signed pictures to diecast cars are gobbled up, partly due to popularity, but also in hope of gain in value for the collectibles market.

Even though the large NASCAR diecast market has slackened of late, it is still reasonable in size. As drivers change their paint schemes, it permits manufacturers to grow the merchandise several times over in this segment and that helps keep sales moving.

Apparel such as driver NASCAR jackets, jerseys, t-shirts, etc appear to be growing in success as makers release expanded items and are even including more high end items like leather jackets and specialty things like jewelry. The true devotee can even dress the entire family unit with recent introductions of complete NASCAR kids clothing lines and also youth lines.

Where will it all end? I don’t think we know, but when I see corporate secretaries donning colorful NASCAR hats and white collar managers wearing NASCAR shirts of all types, I wonder if there is a limit to this market.

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