nike celebrity endorsements 2021
Overall, though, Nike is a strong company that must work hard to remain strong in the future. Much of Nikes manufacturing happens outside of the United States (where the majority of its sales occur), which means it is vulnerable to international trade laws and sanctions. Most Super Bowl wins by NFL team 1967-2023, Average ticket price in the NFL by team 2021, FIFA World Ranking: top male soccer teams 2022, Athletic footwear global market share by company 2015, Health & Fitness Clubs - Statistics & Facts, Sporting goods industry in the U.S. - statistics & facts, Research expert covering sports and video gaming, Profit from additional features with an Employee Account. Even though we are not in Nikes Development or Marketing team, we still can assume several resource as following: Being one of the most innovative sportswears brands in terms of marketing at the moment, product analytic can lie in responsibilities of both the Development and Marketing team of Nike, whether it is a most-liked feature or the last step where a user abandons the shopping cart. [Online]. The iconic swoosh and ubiquitous tagline Just do it are powerful status symbols in many social and industry circles, and the brand has come to represent the pinnacle of sportswear and footwear for decades. Sharapova had signed an 8-year Nike deal worth $70 million in 2010, which earned her $8.75 million a year. Some experts predict that Nikes revenue will be able to grow by almost 25% through the fiscal year 2021 and reach $45.4 billion. Brand recognition does not happen overnight. Nike has emphasized on direct-to-customer channel which is its e-commerce website. 2. Nike has filed suit against companies citing patent infringement, including against Adidas and MSCHF for its Lil Nas X shoes. Show publisher information Lebron James is currently one of the highest-paid athletes in basketball with endorsement deals with top brands such as McDonalds, Samsung, and Coca-Cola. This issue has led to a number of shakeups that resulted in positive action for the company, but the damage to its reputation has already been done. Then you can access your favorite statistics via the star in the header. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 70m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. The company renamed itself Nike, Inc., in 1978 and went public in 1974. Are you interested in testing our business solutions? Just focus on delivering values to your customers life by using your products. Jordan had a $500,000 a year, five-year deal with Nike, but now the retired player makes $100 million a year, thanks to Air Jordan. A marketing strategy should be packed with the best practices and approaches. Statista. Lets analyze Nike athletic shoes go-to-market strategy and see what we can learn from. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Show sources information Nike has also sponsored many other successful track and field athletes over the years, such as Carl Lewis, Jackie Joyner-Kersee and Sebastian Coe. Access to this and all other statistics on 80,000 topics from, Show sources information The King Of Clay has certainly made a list with his $10 million a year contract with Nike, including royalties. StartupTalky - Know Startup Stakeholders and Learn How to's 5. For the fact that many customers of Nike are members of the social media network, the brand knew that it had to connect with audiences via social media channels and gain brand recognition as soon as possible. 2022's report can be found here The two women on the videos shared about their works and ambition to revolutionize fitness through community. Learn more: From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors, Shoe Dog 3 Minute Summary: 15 Lessons Learned + PDF, Target SWOT Analysis for 2021: 24 Key Strengths and, "From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors. From basketball legend Michael Jordan to the greatest footballer Cristiano Ronaldo, lets look at some of the most expensive Nike endorsements. You will be surprised to find out that shoes are not the only thing that has brought Nike this far. 4. If scrolling through their social media account, you can come across high profile faces in the sport industry: Tiger Woods, Serena Williams, Rafael Nadal, etc. As the image above suggests, consumers can sort products by many aspects, such as size, brand, type, suitable weather, icon, material, technology, height, width, and more. It is a hallmark of quality and status, and it has also benefited from powerful celebrity endorsements that let any buyer take part in something they may see as bigger than themselves. Value of Nike's endorsement contracts worldwide 2021-2026. According to Lottoland, Woods made $600,000 playing golf from June 2014 to 2015, while he raked in $50 million in endorsement deals. 3. Nike has become synonymous with celebrity endorsements and sponsorships. While everyone pays handsomely to own a pair of Jordans or customized gear, Nike also increases its popularity through the swoosh on the players' jerseys. Then, you can be the hero to answer and give solutions when the audiences need. For a company that targets the younger generation like Nike, it is important to use social media as a vital part of their marketing strategy. In 2021 alone, Nike's advertising and promotion costs amounted to approximately 3.11 billion U.S. dollars. It has been plagued by sexual harassment allegations. Can The Math Game Help The Denver Nuggets Beat The Phoenix Suns? 2021. Woods signed a five-year contract for $100 million in 2001, and his current contract stands at $200 million. Particularly troublesome are some allegations of sexual harassment and unfair treatment of women in the workplace. The adidas Group's net sales worldwide from 2000 to 2022, Leading 10 global footwear consumers 2021, by country, Net sales of Skechers worldwide 2011-2022. Nike's marketing strategy. Taylor signed a deal worth $26 million with Coca-Cola for promoting Diet Coke. Copyright 2023 by Mageplaza. #1 Nike's social media content type: User-generated content. MJs first shoe with Nike was banned by the NBA because it didnt meet the the leagues color standards. Its customer base is very strong. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Currently, you are using a shared account. (Statista). The shoe industry was significantly revolutionized once Nike entered the business. Rory McIlory was only sixteen when he became a professional golfer and began competing on the green fields. It has taken hundreds of marketing minds decades of work to craft the powerhouse image we know today. In, Brand Finance. And weve continued the momentum into Q3 with a significant holiday launch of the Jordan 11 Bred, meeting demand for one of sneaker cultures all-time favorites at an incredible scale., This is a BETA experience. Bloomberg Business Week noted that as of 2012, the retailer spent 13.5 percent of total company revenue on these marketing efforts. A post shared by Cristiano Ronaldo (@cristiano). The stunning visual is shown on Nikes website as well, I mean, just look at the picture above. George's latest signature shoe with . That is just the history of Nike; how about the marketing performance that the company has? However, in 2014, Nike celebrated the retirement season of the Yankees shortstop with a tribute ad. Please create an employee account to be able to mark statistics as favorites. The Beaverton, Oregon-based company has partnerships with many of the most talented and famous athletes in the world. (Statista). But hardly anyone understands how mighty Nike is compared to other global sports brands out there, like Adidas, for example. Fun fact: The brand name Nike is not a senseless sequence of letters. 1 overall draft pick straight out of high school cemented Lebron as the biggest endorsement opportunity since Tiger Woods. Customers flock to stores in droves to purchase Nike products. Only from $15/hr, With a big catalog of 234+ extensions for your online store. So before we begin digging into Nikes marketing strategy and tactics, let me share a bit of history with you: Nike, Inc., formerly Blue Ribbon Sports from 1964 to 1978, is an American sportswear company headquartered in Oregon. Nike. 1. This statistic shows Nike's projected endorsement contracts commitments from 2021 to 2026 . Luka Doncic, to promote the Jordan Brand. ", Brand Finance, Brand value of the sports company Nike worldwide from 2016 to 2022 (in million U.S. dollars) Statista, https://www.statista.com/statistics/632210/nike-brand-value/ (last visited May 01, 2023), Brand value of the sports company Nike worldwide from 2016 to 2022 (in million U.S. dollars) [Graph], Brand Finance, January 31, 2022. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Nike held 21.1% of the market share for U.S. footwear. News on all your favorite celebs, reality TV, and movies. Nikes products help customers to trust in themselves, train both their body and mind to overcome the challenges of life. Furthermore, it isnt much of a complex strategy at all. Quality and style are a winning combination for Nike across the board. You need at least a Starter Account to use this feature. 6. International trade could become a pitfall. Only time will tell if continued reliance on poorly-paid employees and adverse (and potentially unsafe) working conditions will be enough to turn most consumers away, decreasing the potential revenue and growth over time. Nike's fiscal year runs from June 1 to May 31 of the following year. Then, show up with the information, products, and services to help them make it happen. Business Solutions including all features. The firsts qualities of Nike that people can think of are being lightweight, comfortable, durable, and supportive. Economic uncertainty can cause major issues. Business Solutions including all features. Followed by Federer, Nadal is the only player to win 20 Grand Slam titles in his career. Position products carefully. Reputed as the most consistent player in the NBA, the late legendary basketball player Kobe Bryant was the greatest Lakers player the world had witnessed. (Statista). Nike has done that since the beginning. For Nike, it is the smart product recommendations that make a consumer satisfied with their experience. Seventy-seven percent of NBA players wore Nike or Jordan shoes during the 2019-20 season, according to. Use Ask Statista Research Service. All Rights Reserved. NIKE MARKETING STRATEGY: WHY NIKE IS A MARKETING LEADER? Customers of Nike need to be aware of their strength and grow the ambition for reaching stronger, faster, and higher. 2023 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. Revenue of the cosmetic & beauty industry in the U.S. 2002-2022, Value of the leading global textile exporters in 2021, by country, Vegetable oils: global consumption 2013/14 to 2022/23, by oil type, Cocoa bean production worldwide 2020/2021-2022/2023, by country, World coffee per capita consumption: major consumer countries 2015, Cosmetics industry in the U.S. - statistics & facts, Research expert covering shopping behavior, sports and leisure retail, and the subscriptions and direct selling industry, Profit from additional features with an Employee Account. You only have access to basic statistics. Accessed May 01, 2023. https://www.statista.com/statistics/269599/net-sales-of-adidas-and-puma-worldwide/, Statista. Nike has managed to bag some of the biggest sports stars in the world to promote themselves and have successfully earned millions. The most expensive celebrities for promotions are: Taylor Swift. Jennifer Aniston rose to fame as a cast member of "Friends" more than 20 years ago, but she's still one of the highest-grossing actresses in the country. Nike and Jordan show how successful a celebrity endorsement can be with effective marketing and the right celebrity. Jordan wore Converse sneakers at the University of North Carolina, and his first choice was to join Adidas after the Bulls drafted him. RELATED:Here's How Tennis Legend Rafael Nadal Spends His $200 Million Fortune, A post shared by Kobe Bryant (@kobebryant). Laura Woods is a Los Angeles-based writer with more than six years of marketing experience. The 5 8 Texas native had an accomplished . One of the most iconic endorsements goes to the partnership between Michael Jordan and Nike with the release of the Air Jordan brand. When & How to send a Follow-up email? (Reuters). Michael Jordan, Lebron James, and Tiger Woods are just a few of the names that helped catapult Nike to buyers' collective consciousness. Nike has frequently fallen under fire for working conditions in its overseas factories. Social media platforms are one of the most low-cost but effective tools for social hearing, where the opinions are authentic and objective. A post shared by Maria Sharapova (@mariasharapova). has always been Jordans biggest backer, both financially and marketing-wise. It will never be above imitation or outright infringement of its products, and lawsuits to rectify these problems take time, energy, and expense away from the company with the potential of losing out on a contested case. It can improve working conditions. If you are an admin, please authenticate by logging in again. The Swoosh was even more dominant in the lifestyle basketball category, with a 96% share. Nike produced $16.2 billion in gross profit in 2020. Sponsorships and celebrity endorsements can make or break a brand, and Nike invests . The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Show sources information The only woman on the list, Maria Sharapova, was a tennis phenomenon during her active years. (Statista). The ideal entry-level account for individual users. To use individual functions (e.g., mark statistics as favourites, set Tiger Woods. Register in seconds and access exclusive features. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 70m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. 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Tactics that employed in Nikes social media marketing strategy are: When you can sell the stories, values and benefits, you might not need to be bothered by the thought of competing with your competitors in terms of price. (Investopedia). And content is the core element of any marketing strategy as well. As soon as this statistic is updated, you will immediately be notified via e-mail. This means that Jordan brand incorporates more value . Some consumers may not be aware of the full line of products, or may be turned away by higher costs when compared to other comparable products. Federer made $90.7 million between 2021 and 2022 . According to Yahoo Finance, in 2011, Neymar signed a ten-year contract with Nike, which earned him $10 million per year. How much does Nike spend a year on endorsements? The channel holds women empowerment content that inspires the healthy and sporty lifestyle. Nike currently engages in some sustainable practices, but other corporate mandates have led to inconsistencies in execution. The Jordan Brand had revenue of $3.1 billion in the fiscal year ending May 2019only 8% of company revenue but likely . It can lean into sustainable practices. Nike lost 5% of its global revenue between 2019 and 2020. Nike is the master of masters in storytelling, you cant deny. Bloomberg Business Week noted that as of 2012, the retailer spent 13.5 percent of total company revenue on these marketing efforts. Carving out even a small percentage of growth could mean millions or even billions in sales, so Nike cannot simply rest on its laurels. Nearly 65% of Nike products are sold at third-party retailers. The company depends on the customer behavior data collected from multiple sources to optimize their products and services. Beyond simple marketing and advertising, Nike has also remained at the forefront of athletic wear research and development, positioning itself as a reliable brand for quality as well. (Statista). "Nike's first signature athlete was welterweight wrestler, Wayne Wells. The Nike Swoosh is ubiquitous today, yet that was hardly the case in the mid-1980s. Labor conditions are problematic. If you are selling furniture, for example, let customers think of them with the feeling of elegance; minimalism; nature-friendly or industrial. It is the richest athlete endorsement deal ever but also arguably the biggest bargain given that Jordan helped transform Nike from a scrappy underdog into one of the largest, most valuable consumer brands in the world. How will you help customers with your products (both physically and mentally)? While many choose this brand for normal use, others select it as a fashion statement to be kept in pristine condition and promptly replaced or upgraded over time. Customers can have positive or negative conversations about the brand, however, Nike knows social media conversations like those are one of the purest kinds of customers conversation and feedback. Are you interested in testing our business solutions? If an eCommerce business can provide an excellent shopping experience, consumers will naturally recommend the brand to other shoppers. That's mainly because of her successful endorsement career. In 2016, the Daily Mail reported that then-18-year-old and very rich Kylie Jenner signed a $1 million deal to serve as a brand ambassador for Puma . In addition to celebrity endorsements and sponsorships, Nike also backs local organizations to personalize the brand. Another feature that improves the eCommerce shopping experience of the website is the product filter. Statista. (New York Times). A post shared by Rafa Nadal (@rafaelnadal). Nikes owners did declare the uniqueness of the brand shoes with three points, by which customers can easily decide whether to buy Nike shoes or find another brand. To use individual functions (e.g., mark statistics as favourites, set Nikes brand value across the globe was $34.8 billion. The athlete has endorsement deals with brands such as Babolat, Kia, Santander, and Emporio Armani. 4. The celebrity athlete is well-known and uses his or her fame to help a company sell or enhance the image of a company, products, or brands (Brooks & Harris, . The Jordan Brand had revenue of $3.1 billion in the fiscal year ending May 2019only 8% of company revenuebut likely represents a larger chunk of the market value because its 10% growth rate is faster than the companys overall. This allows them to make an impact in local communities, forming a solid relationship with consumers, increasing the likelihood theyll choose Nike the next time they make a buying decision. Any changes in trade law, supply chain management issues, or other pitfalls inherent to an international company could cause major problems if left unchecked, leading to short supply or delayed product delivery. Actual payments under some contracts may also be lower as these contracts include provisions for reduced payments if athletic performance declines in future periods. Nike fell victim to a class-action lawsuit regarding gender pay discrimination. Show publisher information (Fashionista). Any downturn in the market typically results in consumers cutting back on luxuries, and Nike is likely at the top of the list for many buyers. The Nike-related topics are still popular searched topics on Youtube because of the creativity of new influencers as well as innovative products of Nike. Images often show the bold, fearless side of the users when they use Nike products. Nike now has a virtual monopoly in the once-competitive basketball sneaker business. The sportswear giant has paid him an estimated $1.3 billion by Forbes count since it signed its first deal with Jordan in 1984, and it has helped make him a cultural icon. Nike generated more than $23 billion in revenue from footwear. Use Ask Statista Research Service. Nike's market cap of $136 billion is three times the size of Adidas. It maintains other valuable brands. (Statista). Many popular brands suffer from the counterfeit goods market. Long live the King. As sports players lived their life in front of cameras, Nike took advantage and offered staggering amounts of money for endorsement deals and advertisements. In the late 1980s, Jordan changed the sneaker scene when he introduced Air Jordan to the world. For eCommerce, a big part of the marketing strategy is the buying experience. "Nike's endorsement contracts commitments worldwide from 2021 to 2026 (in million U.S. (Statista) 2021's Nike brand value was one of the lowest recorded in years. "Brand Value of The Sports Company Nike Worldwide from 2016 to 2022 (in Million U.S. In 2017, he also launched the Nike Mercurial Vapor XI Neymar FG cleats. If youre unsure about your customers real needs, consider research methods from simple keyword research to surveys and get a better idea of what kind of content you should create so theyll find your brand valuable. Available: https://www.statista.com/statistics/632210/nike-brand-value/, Brand value of the sports company Nike worldwide from 2016 to 2022, Number of employees of the top sportswear companies 2021, Sportswear import value in the EU from 2014-2019, Sportswear export value in the EU from 2014-2019, Export value of sportswear in the EU by leading country 2019, Importers of fashion sportswear in the EU 2019, Import value of fashion sportswear to France 2019, by product, Distribution of import value of fashion sportswear to France 2019, by product, Average growth rate of import value of sportswear to France 2014-2019, by product, Average import unit price of fashion sportswear to France 2019, by product, Imports and exports value of sports footwear in France 2015-2020, Imports and exports volume of sports footwear in France 2015-2020, Change in revenue of sporting goods retailers in France 2019-2020, Sales value change of lingerie and swimwear in France 2019-2020, by item type, Breakdown of sports and sportswear purchases in France 2020, by channel, Market share of sports and sportswear retailers in France 2020, Production volume of sports shoes in France 2010-2020, Production volume of men's anoraks, ski jackets, windcheaters in France 2017-2019, Yoga clothing market size in France 2019, by type of item, Yoga clothing market breakdown in France 2019, by type of item, Leading brands of sports shoes/trainers in France 2020, by number of users, Most visited sportswear stores for sports purchases in France 2018, Annual revenue of selected athletic wear companies in France 2015-2020, Leading Dcathlon sports clothing in France 2014-2021, by number of users, Women's swimwear usage in France 2014-2020, by number of purchased items, Men's swimwear usage in France 2014-2020, by number of purchased items, Sportswear clothes most frequently used by the French in their daily life 2018, Annual Consumer Price Index for women's sportswear in France 2010-2021, Annual Consumer Price Index for men's sportswear in France 2010-2021, Annual Consumer Price Index for children's sportswear in France 2015-2021, Sports apparel and equipment annual spending of French sportspeople 2019, by gender, Annual spending on sportswear by French sportspeople 2019, by age group, Annual spending on sportswear by French sportspeople 2019, by level of income, Annual spending on sports apparel and equipment by people in France 2019, by type, Annual spending on sports apparel and equipment by French people 2019, by channel, Share of French yoga practitioners' spending on sportswear 2019, by type of clothing, Leading 'Shoes (Except Sports And Indoor)' brands among women in FR 2021, by number of users, Sports clothing items usage in France 2014-2020, by amount spent, Global brand value comparison of Nike and adidas from 2010 to 2022, Global brand value of H&M from 2016 to 2022, Global brand value of Zara from 2016 to 2022, Global brand value of Uniqlo from 2016 to 2022, Global brand value comparison of H&M and Zara from 2010 to 2022, Global brand value of Chanel from 2017 to 2022, Global brand value of Dior from 2016 to 2022, Global brand value of Herms from 2010 to 2021, Global brand value of Cartier from 2016 to 2022, Global brand value of Louis Vuitton from 2016 to 2022, Global brand value of Gucci from 2016 to 2022, Global brand value of Gillette from 2016 to 2022, Global brand value of Nivea from 2016 to 2022, Global brand value of Dove from 2016 to 2022, Brand value of the sports company Nike worldwide from 2016 to 2022 (in million U.S. dollars), Find your information in our database containing over 20,000 reports, America's favorite clothing and footwear brands. Jennifer Aniston. In Nikes case, their target audience were looking for new ways to get in shape. Lets see what sort of marketing strategy Nike used to achieve and maintain their status of a markets dominant player. Research expert covering shopping behavior, sports and leisure retail, and the subscriptions and direct selling industry. Converse remains an immensely popular brand, and further opportunities for acquisition may present themselves over time. Which social networks are they highly active on? Michael Jordan's net worth explained - including Air Jordans and Nike deal worth 1bnhttps://t.co/IoJZQ4jv37 pic.twitter.com/zxR5qg4pk3. 6. In the other hand, . [Online]. If you are an admin, please authenticate by logging in again. She has the Career Grand Slam: Australian Open, French Open, and US Open, along with a silver in the Olympics. Apart from Nike, Odell's most prominent sponsor is United Sports Brands. Can you pay to promote your content on these networks? #3 Join in customer's social conversations. Please create an employee account to be able to mark statistics as favorites. The former Texas standout famously turned down a $70 million deal from Adidas to sign with the Swoosh. Accessed May 01, 2023. https://www.statista.com/statistics/632210/nike-brand-value/, Brand Finance. Nike outperformed competitor Adidas in revenue by 69%. ", Nike, Nike's endorsement contracts commitments worldwide from 2021 to 2026 (in million U.S. dollars) Statista, https://www.statista.com/statistics/961728/nike-endorsement-contracts-value/ (last visited May 01, 2023), Nike's endorsement contracts commitments worldwide from 2021 to 2026 (in million U.S. dollars) [Graph], Nike, July 20, 2021. Please do not hesitate to contact me. His skilled game on the field has earned him an army of fans who follow everything he does. Nike is one of the businesses that put customers first - a phrase that you might hear several times. How has Nike been guiding its customers through the online shopping experiences smoothly? MJs brand shows no signs of slowing down. Then you can access your favorite statistics via the star in the header.