Aug 7 Reuters The summer Olympics is turning out to be a rare win for Nike as the global sporting event has helped boost demand for the sportswear giant39;s new launches and edge out competition, website searches from research firm Similarweb showed.

In the opening week of the Olympics, from July 26 to August 1, Nike and Puma managed to increase visits to their directtoconsumer sites, while Adidas, Hoka and On all saw their visits decline compared to the week before, according to Similarweb.

The visits peaked on July 31 to 2 million, following U.S. gymnast Simone Biles clinching her seventh Olympic gold medal after the United States earned their third gold in the women39;s team event.

Out of those visits to Nike.com, 86,900 included a sale, while Adidas had a total of 532,500 visits with only 3,600 likely converted into product purchases, the data showed.

If the athletes and teams sponsored by Nike carry on winning, that39;s likely going to boost their popularity and therefore they39;ll probably still see those conversions remain strong through the rest of the Olympics, Similarweb39;s Senior Insights Analyst Daniel Reid said.

Nike had said it was spending more on this Olympics than any previous games, as it hopes to revive sales and compete with upstart rivals. CFO Matthew Friend said in June that Nike was reinvesting nearly 1 billion in consumerfacing activities in fiscal 2025, which includes product launches and deepening its sports marketing portfolio through…

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