The Olympic opportunity: How brands can sustain their momentum beyond the Games

There is no doubt that the Olympic Games are always a global phenomenon that transcends sport competitions.

There is no greater time or opportunity to tap into the excitement and connection it brings to a nation, regardless of age, colour or religion.

The Games possess the power to unite nations, inspire individuals, and leave a lasting impact on people’s emotions and the retail sector.

This article delves into the psychological effects of the Olympics, explores how they influence consumer behaviour and provides insights into what retailers can do to capture and extend the positive sentiments the 2024 Olympic Games in Paris will generate. 

Viewing statistics alone clearly demonstrate the impact and investment people have in this global moment. During the Tokyo 2020 Olympics, which were delayed until 2021, more than 3 billion people tuned in globally, and digital engagement reached unprecedented levels. These trends underscore the powerful draw of the Olympics, and the results from Paris are eagerly anticipated.

Psychological impact of the Olympic Games

The Olympics are far more than a series of athletic events; they are a cultural and emotional experience that resonates deeply with audiences worldwide. Psychologically, they tap into a range of emotions and needs that go beyond the mere spectacle of sports. So let’s start by looking at these key emotions a little more deeply.

1. National pride and unity

The Olympics are famous for evoking strong feelings of national pride. As athletes from around the world compete under their national flags, we experience a heightened sense of patriotism. This is particularly evident during the opening and closing ceremonies, when national symbols and traditions are prominently displayed. The ceremonies are a celebration of cultural identity, and they foster a collective sense of belonging and unity among citizens.

If you consider the 1996 Atlanta Olympics, where the US women’s gymnastics team, known as the Magnificent Seven, won the first-ever team gold medal for the United States. The image of Kerri Strug landing her vault on an injured ankle became an enduring symbol of determination and national pride. The collective joy and pride Americans felt during that moment reinforced a sense of unity and shared identity.

2. Inspiration and aspiration

Watching athletes achieve extraordinary feats often inspires us to reflect on ourselves, and set and pursue our own goals. The stories of perseverance, dedication and triumph over adversity resonate deeply, encouraging individuals to aspire to greater heights in their own lives. The Olympics showcase pinnacles of human potential, serving as a powerful motivator for personal and professional growth.

The story of Michael Phelps, the most decorated Olympian of all time, is one of relentless dedication and perseverance. Phelps’ journey to winning 23 gold medals, despite facing numerous challenges, including struggles with mental health, is a testament to what can be achieved with unwavering commitment and determination. His story has inspired countless individuals to push beyond their limits and strive for excellence.

3. Emotional engagement

The emotional rollercoaster of victories and defeats creates deep engagement with the event. The shared experiences of joy, disappointment and suspense help foster a sense of community among viewers, both locally and globally. Whether cheering for your home country or admiring the skills of athletes from around the world, we are emotionally invested in the outcomes of the competitions.

Take the 2008 Beijing Olympics, for example, where Usain Bolt’s electrifying performances in the 100m and 200m sprints captivated the world. His exuberant celebrations and record-breaking runs not only thrilled audiences but also created moments of collective euphoria. The emotional high of witnessing such feats fosters a sense of connection amongst us all, transcending geographical and cultural boundaries.

4. Escapism and entertainment

The Olympics offer a break from the daily grind. For a few weeks, people can immerse themselves in the excitement of the Games, finding entertainment and a temporary escape from routine life. The variety of sports and the stories of athletes provide a rich tapestry of narratives that capture the imagination and provide a welcome distraction from our everyday concerns.

During the 2016 Rio Olympics, the story of US gymnast Simone Biles captivated audiences. Her incredible athleticism and grace, combined with her infectious personality, made her a household name. Watching Biles perform provided a sense of joy and wonder, offering a temporary respite from the stresses of daily life.

5. Cultural appreciation

The Games always promote cultural appreciation by showcasing diverse traditions and customs from around the world. This exposure broadens our horizons and fosters a greater understanding and respect for different cultures. The Olympic Village, where athletes from various countries live and interact, symbolises global unity and cultural exchange.

At the Tokyo Olympics, the opening ceremony paid homage to Japan’s rich cultural heritage, incorporating traditional music, dance and art. This celebration of culture not only highlighted Japan’s unique identity but also invited the world to appreciate its traditions. Such moments of cultural exchange enrich the global audience’s understanding and appreciation of diversity.

Impact on the retail sector

It’s exciting that the retail sector also experiences major shifts during the Olympic Games, driven by the heightened emotions and engagement of customers. These shifts manifest in various ways, from increased consumer spending to innovative marketing strategies. Let’s break some of them down and look at a few examples more closely.

1. Increased consumer spending

The excitement surrounding the Olympics always translates into increased consumer spending. People purchase merchandise, sports equipment and apparel to show support for their favourite teams, sports and athletes. Limited-edition items and memorabilia become highly sought after, creating a lucrative market for retailers.

During the 2012 London Olympics, for example, official merchandise sales reached unprecedented levels. From Team Great Britain apparel to Olympic mascots, consumers eagerly bought items to commemorate the event. The high demand for merchandise drove a 20 percent increase in sales of official merchandise over previous Games, but also created a sense of shared experience among consumers, who proudly displayed their support for the Games.

2. Boost in tourism and hospitality

Host cities experience a surge in tourism, benefiting local businesses, including hotels and restaurants. The influx of visitors creates opportunities for retailers to capitalise on increased foot traffic and spending. The economic impact of the Olympics also extends beyond the duration of the Games, as the host city’s enhanced global visibility attracts tourists long after the event has concluded.

The 2000 Sydney Olympics serve as a prime example. The event attracted 1.6 million visitors, creating a big boost for the local economy. Retailers and hospitality businesses experienced a surge in revenue, with many reporting record sales. The 2000 Olympics also established Sydney as a premier tourist destination and the city continued to attract visitors in the years that followed.

3. Marketing and branding opportunities

Brands that leverage the Olympics and create targeted marketing campaigns, sponsorships, advertisements, and promotions tied to the Games enhance brand visibility and engagement. Successful campaigns often evoke the emotions of pride, unity and inspiration associated with the Olympics.

One notable case is Procter & Gamble’s ‘Thank You, Mum’ campaign, launched during the 2012 London Olympics. The campaign highlighted the pivotal role mothers play in the lives of athletes, striking an emotional chord with viewers. By focusing on universal themes of gratitude and support, the ads generated a 15 per cent increase in sales and enhanced brand loyalty by 20 per cent.

4. Technology and media consumption

The way people consume media during the Olympics has evolved over the years also, with a shift towards digital platforms. Retailers can take advantage of this by enhancing their online presence, creating interactive content, and engaging with consumers through social media. This might be stating the obvious but it works.

During the 2016 Rio Olympics, NBC Universal reported that more than 100 million people in the US streamed the Games online, making it the most streamed event in history at the time. This shift in media consumption patterns opened new avenues for advertisers and retailers to reach a digitally savvy audience. Brands that embraced digital strategies generated increased engagement and sales.

Case studies

1. Nike’s ‘Find Your Greatness’ Campaign (2012 London Olympics)

During my time at Nike, we released a campaign during the London Olympics focused on personal achievement rather than elite sports. The objective was to resonate with a broader audience by encouraging individuals to pursue their own greatness, regardless of their background or skill level.

The campaign featured ordinary people from various walks of life striving for greatness in their own way. One memorable ad showed a young boy, Nathan, running along a quiet country road, with the tagline, “Greatness is not beyond his reach, nor is it for any of us.” This powerful message of inclusivity and personal achievement struck a chord with viewers, making the campaign a resounding success. Nike reported an increase in global sales of 10 per cent during and after the Olympics, and a 15 per cent boost to brand loyalty, demonstrating the effectiveness of emotionally resonant marketing. 

2. Coca-Cola’s ‘Share a Coke’ Campaign (2016 Rio Olympics)

Coca-Cola personalised its bottles with popular names, encouraging consumers to share a Coke with friends and family. The campaign, tied to the Rio Olympics, emphasised sharing and togetherness, aligning with the communal spirit of the Games. This led to a 12 per cent increase in sales and a 25 per cent rise in social media engagement.

The Share a Coke campaign was extended to include Olympic-themed bottles, featuring the names of famous athletes and popular sports. This personalisation created a sense of connection between consumers and the Olympic athletes they admired. Coca-Cola also leveraged social media to amplify the campaign, encouraging consumers to share photos and stories of their personalised bottles. 

3. Adidas’ ‘Impossible is Nothing’ Campaign (2004 Athens Olympics)

I was a part of the Adidas business during the ‘Impossible is Nothing’ campaign for the 2004 Athens Olympics, which celebrated the extraordinary achievements of athletes and the idea that overcoming challenges is within everyone’s reach. The campaign featured iconic athletes like Muhammad Ali and Haile Gebrselassie, showcasing their journeys of perseverance and triumph.

One particularly impactful ad depicted the story of Gebrselassie, a long-distance runner from Ethiopia who overcame poverty and physical challenges to become an Olympic champion. The ad highlighted his determination and resilience, resonating deeply with viewers. Adidas reported an 18 per cent boost in brand perception and a 10 per cent increase in sales through this inspirational storytelling.

Post-Olympic strategies for retailers

To sustain and maximise the amazing momentum generated from positive sentiments and consumer engagement, retailers can quite easily adopt and re-interrupt ongoing strategies post-Olympics. Let’s look at a few things to focus on that you can bring to life in your own way.

1. Emotional storytelling

Continue to tell compelling stories that resonate with the emotions experienced during the Olympics. Highlight personal achievements, community involvement, and the journey of athletes* to maintain the inspirational narrative. Storytelling that focuses on perseverance, triumph and unity can create a lasting emotional connection with consumers.

For instance, retailers can feature stories of local athletes or community heroes in their marketing campaigns. These narratives not only keep the Olympic spirit alive but also foster a sense of pride and connection within the community.

2. Limited-edition products

Introduce limited-edition products that commemorate the Olympics. These can include apparel, accessories, and memorabilia that allow consumers to hold onto the memories and pride associated with the Games. Limited-edition items create a sense of exclusivity, connection and urgency, driving sales and enhancing brand loyalty.

A successful example of this approach is Ralph Lauren’s limited-edition Olympic-themed apparel. By releasing a collection that celebrates the US Olympic team, Ralph Lauren capitalised on the national pride and excitement surrounding the Games. The collection’s exclusivity and high-quality design made it a sought-after commodity, boosting sales and brand prestige.

3. Community engagement

Some retailers can foster a sense of community by organising or being involved in local events, sporting activities, and partnerships with local sport clubs. This keeps the spirit of the Olympics alive and encourages ongoing engagement with the brand. Community-focused initiatives build loyalty and strengthen the brand’s presence within local markets.

For retailers that can sponsor local tournaments, host viewing parties for major sporting events, or collaborate with schools to promote physical activity, these initiatives not only enhance brand visibility but also create positive associations with community involvement and support. Think about like-minded associates who have the same values and beliefs as you, which can extend your ecosystem.

4. Interactive digital experiences

Enhancing digital platforms with interactive content, such as virtual-reality experiences of Olympic venues, behind-the-scenes footage, and athlete interviews. Engaging consumers online helps maintain interest and connection with the brand. Interactive content provides an immersive experience that keeps the excitement of the Olympics alive.

For example, retailers can create virtual tours of Olympic themes, moments or experiences from the Games, allowing consumers to explore or revisit these moments to spark emotions. Additionally, offering exclusive post-Olympic interviews with athletes, fans and personalities can provide a unique and engaging experience to spark and rekindle emotions.

5. Collaborations and partnerships

Retailers can forge collaborations and partnerships with brands, athletes and influencers who were prominent during the Olympics. These partnerships can lead to co-branded products, special events, and promotional campaigns that keep the Olympic momentum going.

For instance, collaborating with a popular Olympian to launch a signature line of products or hosting events where fans can meet their Olympic heroes can drive engagement and sales. I would suggest you focus on ambassadors aligned with your brand and not influencers, for even greater return on investment. These partnerships leverage the athletes’ popularity and personality, and the goodwill generated during the Games, benefiting both the retailer and the athlete.

6. Customer loyalty programs

Developing customer loyalty programs that reward consumers for their engagement during and after the Olympics can foster long-term loyalty. Offering exclusive discounts, early access to limited-edition products, and special rewards for Olympic-related purchases can keep consumers connected to the brand. Remember, the rewards will influence their decision but ultimately the loyalty will come from the way you make them feel.

We all know these programs not only encourage repeat business but also create a community of loyal customers who feel valued and appreciated.

So what’s the conclusion?

The Olympic Games create a unique emotional and psychological landscape that retailers can tap into. By understanding the feelings of national pride, inspiration and unity that the Games evoke, retailers can craft strategies to capture these sentiments and extend their impact beyond the event itself. Through emotional storytelling, limited-edition products, community engagement, interactive digital experiences, collaborations, and valued customer loyalty programs, retailers can continue to ride the wave of Olympic enthusiasm and achieve lasting success long after the final medal has been awarded. The Olympics offer a treasure trove of opportunities for retailers to connect with consumers on a deeper level, foster lasting relationships, and drive sustained growth. By leveraging the powerful emotions and cultural significance of the Paris Olympic Games, retailers can ensure that the Olympic spirit lives on in the hearts and minds of consumers long after the closing ceremony.

This story first appeared in the August 2024 issue of Inside Retail Australia magazine.

The post The Olympic opportunity: How brands can sustain their momentum beyond the Games appeared first on Inside Retail Australia.