In partnership with Sports Innovation Lab, key findings from a groundbreaking, data-led report identify a $4 billion untapped U.S. women’s sports merchandise market for retailers, with 79% of women’s sports fans indicating they would buy more merchandise if more options were available to them; To further address the cause, Klarna and women-owned media and commerce company TOGETHXR have released limited edition merchandise with proceeds benefiting the Women’s Sports Foundation
NEW YORK, June 26, 2024 /PRNewswire/ — Klarna, the AI-powered global payments network and shopping assistant, today announced, Rep Her, a multifaceted, research-backed initiative to raise awareness around gender-based gaps in women’s sports merchandise availability. In partnership with fan intelligence company Sports Innovation Lab, Klarna has released a first-of-its-kind report titled Rep Her: Revealing the Unmet Demand for Women’s Sports Merchandise. The Rep Her report values the rapidly growing women’s sports merchandise market at an estimated $4 billion annually, proving the sector’s drastically unmet consumer demand, and measures gender-based imbalances between men’s and women’s sports fan communities. To further address consumer appetite, Klarna has teamed up with female Olympian-founded, trailblazing media and commerce company TOGETHXR and 2x World Cup Champion, NWSL Champion, ESPN Analyst and TOGETHXR consultant Ali Krieger to launch limited edition merchandise and has also launched a new innovative shopping experience within its app and website.
Key findings from Klarna and Sports Innovation Lab’s report include that fans are:
Hungry for Options: 79% of surveyed respondents reported they would purchase more women’s sports merchandise if there were more options available to them, while 28% reported they could not find a style they likedDemanding Inventory: More than 60% of fans who searched for and intended to buy women’s sports merchandise did not make a purchase because it was not in stockSeeking Out Retailers: 32% of women’s sports fans cannot find a retailer that carries merchandise related to their favorite teams and athletesSearching for More Styles: Buyers of women’s sports merchandise are 60% more likely to have trouble finding a style than buyers of men’s sports merchandiseExpressing Fandom Through Merch: 67% of women’s sports fans have purchased sports merchandise despite only 49% having ever purchased a ticket to a live sporting eventLimited Compared to Men’s Sports: For every nine pieces of men’s sports merchandise available, women’s sports has one (The 30-team NBA has 9x more merchandise options than the 12-team WNBA, and the 29-team MLS has 6x more merchandise options than the 14-team NWSL)Vast Supporters: Most women’s sports fans identify as fans of multiple sports and leagues – top leagues include the WNBA (60%), NWSL (51%), NCAA Women’s Basketball (49%), NCAA Women’s Volleyball (39%) and the USWNT (37%)
“Consumer appetite for league, team, and athlete merchandise is vastly exceeding supply,” said Angela Ruggiero, Co-Founder of Sports Innovation Lab. “There is a golden opportunity for retailers to capitalize on a surging market that is telling us if you create something authentic to the community, they will buy it.”
Klarna, TOGETHXR and Krieger have tapped designers Sophia Chang and Mellany Sanchez to create t-shirts and tote bags featuring the phrase “A movement, not a moment,” celebrating their passion for women’s sports and allowing fans to Rep Her with pride. This merchandise not only symbolizes the growing influence of women’s sports, but also empowers fans to showcase their dedication. Available for purchase on both Klarna.com and TOGETHXR.com, a percentage of all proceeds from the collection will go to Billie Jean King’s Women’s Sports Foundation, emphasizing that the interest in women’s sports is a formidable force that’s here to stay.
Additionally, to help women’s sports fans find merchandise to represent their favorite teams with ease, Klarna has curated an innovative women’s sports destination on Klarna.com and in its app, offering a seamless way to discover, shop and purchase women’s sports merchandise utilizing its interest-free pay in 4 payment option.
“As a brand that breaks the status quo and is a big supporter of women’s sports through our three-year partnership with Angel City Football Club, we saw there was a lack of merchandise available for women’s sports fans yet demand for it so we want to do our part to find a solve and contribute to fueling women’s sports fandom to continue to help propel the industry forward,” said Klarna’s Head of B2C Marketing in North America and the United Kingdom, Megan Gokey. “We are energized by the growing attention surrounding women’s sports and are proud to launch this initiative with Sports Innovation Lab and TOGETHXR to raise awareness around the merchandise gap, ultimately helping to make merchandise more accessible to millions of fans and create a space for women’s sports fans to shop smarter and ‘fan’ harder.”
“As a female athlete myself, it’s incredibly important to see efforts like these that highlight and address gender disparities in sports, like the gap in women’s sports merchandise. This initiative is a pivotal step in recognizing the value of women’s sports and ensuring that fans have the merchandise they want,” shared TOGETHXR consultant Ali Krieger. “Klarna has pushed the boundaries when it comes to creating a smart way to shop and pay, and this initiative directly speaks to the brand’s impactful efforts to push the women’s sports movement forward.”
This report is the fourth annual installment in Sports Innovation Lab’s internationally acclaimed The Fan Project series, which has become the global sports industry’s north star guidance on the commercialization of women’s sports since launching in 2021.
To view the full Rep Her report, please visit HERE. Additionally, Sports Innovation Lab is hosting a live webinar on July 11 to provide a report read-through and data deep dive, which can be accessed by registering HERE.
About Klarna
Since 2005 Klarna has been on a mission to accelerate commerce with consumer needs at the heart of it. With over 150 million global active users and 2 million transactions per day, Klarna’s fair, sustainable and AI-powered payment and shopping solutions are revolutionizing the way people shop and pay online and in-store, empowering consumers to shop smarter with greater confidence and convenience. More than 500,000 global retailers integrate Klarna’s innovative technology and marketing solutions to drive growth and loyalty, including H&M, Saks, Sephora, Macy’s, Ikea, Expedia Group, Nike and Airbnb. For more information, visit Klarna.com.
About TOGETHXR
TOGETHXR is a media and commerce company founded by Jessica Robertson alongside four of the world’s top professional athletes, Alex Morgan, Chloe Kim, Simone Manuel, and Sue Bird. With a focus on rich storytelling rooted in lifestyle and youth culture, TOGETHXR is an unapologetic platform where representation and gender equality are both expected and required. TOGETHXR highlights a diverse and inclusive community of game-changers, culture shapers, thought-leaders, and barrier breakers – finding and telling the stories of women who are doing the same. As one of the most compelling platforms for women in sport and culture, TOGETHXR’s in-house production studio has created a slate of scripted and unscripted premium content, including Surf Girls: Kaikaina, More Than A Name, FENOM, Summer of Gold, and more, which are in discussions to be adapted for film, TV, and digital media. In 2023, TOGETHXR was named one of Fast Company’s Most Innovative Companies and won Media Company of the Year in the DigiDay Media Awards.
About Sports Innovation Lab
Sports Innovation Lab is a data company that enables brands and sports properties to build more effective sponsorships, improve targeted advertising, and enhance fan experiences. Known for its pioneering research on fan behavior and the commercialization of the women’s sports market, Sports Innovation Lab’s flagship Sports Data Cloud offering built on proprietary observational, transactional, and deterministic fan data is evolving how organizations use data to understand their customers and acquire more of them – starting with sports & entertainment. Learn how global brands including the NFL, Nike, NHL, Ally Financial, WNBA, and NASCAR use Sports Innovation Lab’s data, audiences, and strategic advisory to drive revenue by visiting sportsilab.com or following on LinkedIn, Instagram, and Twitter.
Media contacts:
Klarna – Kimberly Gibbs
kimberly.gibbs@klarna.com
(614) 967-5032
Sports Innovation Lab – Anthony Baldini
anthony@athletestrategies.com
(408) 506-5975
TOGETHXR – Togethxr@laruepr.com
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SOURCE Klarna Bank AB (publ)
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