The Summer Olympics is proving to be a significant win for Nike as the global event boosts demand for the sportswear giant’s latest products and helps it surpass competitors, according to website searches analyzed by research firm Similarweb.
Similarweb reports that during the first week of the Olympics, from July 26 to August 1, Nike and Puma saw increased traffic to their direct-to-consumer websites. In contrast, Adidas, Hoka, and On experienced a drop in visits compared to the previous week.
Traffic to these sites peaked at 2 million visits on July 31, coinciding with U.S. gymnast Simone Biles winning her seventh Olympic gold medal and the United States securing their third gold in the women’s team event.
According to the data, 86,900 of these visits to Nike.com resulted in sales, while Adidas garnered a total of 532,500 visits, with only 3,600 likely leading to purchases.
“If the athletes and teams Nike sponsors continue to win, their popularity is likely to increase, which should sustain strong conversion rates throughout the Olympics,” said Daniel Reid, Senior Insights Analyst at Similarweb.
Nike has increased its investment in this Olympic cycle more than in previous games, aiming to boost sales and stay competitive against newer rivals. CFO Matthew Friend revealed in June that Nike plans to reinvest nearly $1 billion in consumer-facing activities in fiscal 2025, which includes new product launches and enhancing its sports marketing portfolio with campaigns timed around the Paris Olympics.
As the world’s largest sportswear maker and the official sponsor of the U.S. Olympic and Paralympic teams, Nike launched several new products, including the Jordan 4 Retro SE shoes and the Olympic Electric Pack, which features 55 shoes, including the new designs of Alphafly 3 and Pegasus that have captivated consumers.
On the resale platform StockX, the Jordan 4 Retro SE Paris Olympics Wet Cement, priced at $225, traded over 8,373 times by the end of July, becoming the site’s top-selling Olympic product.
Despite these successes, Nike’s performance this year has generally lagged behind brands such as Roger Federer-backed On, Deckers Outdoor’s Hoka, and Adidas in running, performance, and casual shoe categories due to less innovative designs and some strategic missteps.
“Nike is still considered a struggling brand overall. However, the Olympics significantly boosts interest in these brands… Nike is excelling there,” remarked Drew Haines, merchandising director at StockX.
