Nike is benefiting greatly from the Summer Olympics, as evidenced by internet search statistics from research firm Similarweb. The global event has boosted demand for the sportswear giant’s new product launches and helped it surpass competitors.
In the opening week of the Olympics, from 26th July to 1st August, Nike and Puma managed to increase visits to their direct-to-consumer sites, while Adidas, Hoka and On all saw their visits decline compared to the week before, according to Similarweb.
Traffic rose on 31st July, reaching 2 million visits, coinciding with US gymnast Simone Biles securing her seventh Olympic gold medal and the United States winning its third gold in the women’s team event. Of the visits to Nike.com, 86,900 resulted in a sale, whereas Adidas had 532,500 visits with only 3,600 potentially converting into product purchases.
Similarweb’s Senior Insights Analyst, Daniel Reid, commented, “If the athletes and teams sponsored by Nike continue to win, it’s likely that their popularity and conversions will stay strong throughout the remainder of the Olympics.”
Nike had announced that it was investing more in this Olympics than in any previous Games, aiming to boost sales and compete with emerging rivals. CFO Matthew Friend revealed in June that Nike was reinvesting almost US $ 1 billion in consumer-facing activities for FY 2025, comprising new product launches and enhanced sports marketing efforts throughout the Paris Olympics.
As the world’s biggest sportswear maker and official sponsor of the US Olympic & Paralympic teams, Nike introduced a range of new products, from Jordan 4 Retro SE shoes to an Olympic Electric Pack featuring 55 different shoes, comprising new designs like the Alphafly 3 and Pegasus.
On the resale platform StockX, the Jordan 4 Retro SE Paris Olympics Wet Cement, priced at US $ 225, was traded more than 8,373 times by the end of July, making it the top-selling Olympic product on the site.
Despite this, Nike’s performance this year has fallen behind brands such as Roger Federer-backed On, Deckers Outdoor’s Hoka, and Adidas in the running, performance, and casual shoe categories. Nike has faced challenges in delivering innovative designs and navigating strategic missteps.
