Website searches from research firm Similarweb revealed that Nike is enjoying a rare victory as a result of the summer Olympics. The worldwide athletic event has helped increase demand for the sportswear giant’s new launches and outperform competitors.
According to Similarweb, during the first week of the Olympics, which ran from July 26 to August 1, Nike and Puma reported a rise in visitors to their direct-to-consumer websites, whereas Adidas, Hoka, and On all witnessed a decrease in visits from the previous week.
The number of visitors reached a peak of 2 million on July 31, coinciding with American gymnast Simone Biles’s eighth Olympic gold medal, which came after the country won its third gold in the women’s team competition.
86,900 of those visits to Nike.com resulted in a sale, whereas only 3,600 of Adidas’ 532,500 visits were probably converted into product purchases, according to the data.
According to Daniel Reid, Senior Insights Analyst at Similarweb, “if the athletes and teams sponsored by Nike carry on winning, that’s likely going to boost their popularity, and therefore they’ll probably still see those conversions remain strong through the rest of the Olympics.”
In an attempt to boost sales and compete with emerging rivals, Nike said that it would be investing more in the Olympics than it has in any prior games. Reinvesting almost $1 billion in consumer-facing initiatives in fiscal 2025, according to CEO Matthew Friend’s June statement, is Nike’s strategy. This includes product releases and expanding its sports marketing portfolio through campaigns during the Paris Olympics.
The biggest sportswear manufacturer in the world and the official sponsor of the American Olympic and Paralympic teams, Jordan 4 Retro SE shoes to an Olympic Electric Pack with fifty-five shoes, including new designs of Alphafly 3 and Pegasus that have caught the attention of customers, were just a few of the products that the company unveiled.
The Jordan 4 Retro SE Paris Olympics Wet Cement, which sells for $225, is the most popular Olympic product on StockX, having been exchanged over 8,373 times as of the end of July.
Even yet, Nike’s performance this year in the running, performance, and casual shoe categories has trailed behind brands like Deckers Outdoor’s Hoka, Roger Federer-backed On, and Adidas. The sportswear behemoth has struggled to introduce novel designs and has made a few strategic errors.
“In general, Nike is still having trouble as a brand. However, the Olympics undoubtedly spark curiosity about these topics. According to StockX’s merchandising director Drew Haines, Nike is the company that is truly succeeding there.
