Nascar

NASCAR

NASCAR has been around since I can remember. Ever since I was a little girl I can recall seeing ads and TV coverage of NASCAR races. However, in recent times, I would say that their popularity has dangerously decreased. It seems as if NASCAR failed to see the change in the nations demographics. In the following paragraphs I will explain how NASCAR is being threatened by changing demographics, discovering the root behind the disappointment of NASCAR’s digital rights, and why NASCAR has failed to stars who are highly engaged.

To start, NASCAR is a very traditional “closed culture” sanctioning body. They haven’t changed much about the company since it started in 1947. Also, NASCAR’s original fans are beginning to age. Their fans were “predominately comprised of white, married males with an average age of 47”. With their fan base getting older, they need to be focusing on a new target market. Single parent homes have risen by 19% in forty years and “one in four children were growing up without an adult male at home. “ Being that NASCAR is like a Dad and son tradition, it is simple to see how these single parent demographics are affecting the NASCAR’s business. The situation doesn’t get better for households with males. Research shows that kids in a household with males are not interested in the car racing sport, but rather video games and smartphones. The males of these households are being drawn to sports that are exposed through digital and social channels. Another rapidly changing demographic was that of the Hispanic population. The Hispanic population is expected to triple over the next forty years. “[The Hispanic population is] increasing its financial wealth at the fastest rate of any ethnic group in the United States and was expected to have more than $1trillion in buying power by 2014. However, the Hispanic population, family oriented and sport watching, did not feel invited to sport. NASCAR failed to market to the Hispanic population. One fan mentioned he had “never seen a NASCAR ad in Spanish”. Generation Y is another demographic NASCAR has failed to pay attention to. The big spenders, Generation Y, are said to be spending more “discretionary” money than the wealthier Baby boomer generation. Although Generation Y is fairly easy to reach via social networks, they sensed that NASCAR “ did not project an aura of multiculturalism”. They also saw sporting events more as social events and “loved the feeling of community that came from pride for one’s city”. Although these are general trends in the ever-changing demographics could be a threat to all business, they are specific to NASCAR since they haven’t done anything to address them.