nike celebrity endorsements 2021

Then, you can be the hero to answer and give solutions when the audiences need. As a Premium user you get access to the detailed source references and background information about this statistic. Use Ask Statista Research Service. A post shared by Rafa Nadal (@rafaelnadal). 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. Derek Jeter is one of the highest-paid baseball athletes, with a $200 million net worth. Nike is reliant on third-party retailers to get its products into the hands of consumers. The former NBA player might be retired, but thanks to his deal with Nike, going strong since 1984, he keeps bringing in the big bucks. 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. Nike has managed to bag some of the biggest sports stars in the world to promote themselves and have successfully earned millions. Dollars). 1. Nike isnt just shoes. Counterfeits and copycats remain a threat. There were 98 standalone Converse stores in the United States in 2020. The cost of advertising and marketing only grows over time, and it must do more and more to maintain its massive brand presence in the market. Marketing Science Institute: Are Celebrity Product Endorsements Worth the Investment? Another feature that improves the eCommerce shopping experience of the website is the product filter. Marketing budgets continue to skyrocket. Nike has always put an emphasis on the imagery of their marketing strategy. Statista. And basing on the foundational elements of the brand, they can easily come up with ideas to write novel stories for the brand, which is relevant to targeted consumers aspiration, goals or lifestyles. If you are facing some creative blocks in building a story marketing strategy, our recommendation is to search inside your brand mission and answer these kinds of questions: Bill Bowman and Phil wanted to create sportswear for athletes, helping them to reach their highest potential. Do this well enough, and you can even turn readers into passionate brand loyal customers. With a combined 25.3 million followers on the major social media platforms, Westbrook is one of the most influential Nike-sponsored athletes. Get in touch with us now. The seven-time All-Star banked an additional $8.5 million (7m) thanks to money-spinning endorsement deals with the likes of Gatorade, Foot Locker, and Nike. The company depends on the customer behavior data collected from multiple sources to optimize their products and services. More than that, the company keeps their fanbase engaged and eager for more news thanks to the follow-up emails. Lebron James is commonly considered one of the greatest athletes to ever grace the NBA and professional sport with his presence. He had a close relationship with Nike and encouraged Jordan to hear the companys pitch. Federer made $90.7 million between 2021 and 2022 . The Shake It Off singer has had some of the best endorsement deals. 2023 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. Nike is one of the most recognized brands around the globe. March 9, 2023. (Investopedia). (Statista). What are the first things customers think of when then they hear about your brand? 7. 1 Michael Jordan & Nike - $145 Million (This Year) And topping the list go highest-paid celebrity endorsement deals of all time is, of course, Michael Jordan and Nike. The golfer earns more than $50 million a year from his endorsement deal. Just focus on delivering values to your customers life by using your products. Nikes worldwide employment grew 119% from 2009 to 2020. Nike had a hit on his hands. It maintains a vast line of athletic wear for all seasons and many different sports. Even though Nike remains fairly dominant in the market, competition is stiff, and brands continue to jockey for the top spot in consumers minds and will continue to try to hold onto their loyal customer bases. Is there anything more particular about their marketing strategies and tactics? Register in seconds and access exclusive features. 6. 138 million followers on Instagram and 8.3 million followers on Twitter (two most-followed active channels). Who was Nike's first endorsement? Its actually a genius collection of marketing strategies for every aspect of the brand. A seemingly endless stream of celebrity endorsements makes Nike advertisements appear more credible consumers, as people tend to listen to testimonials from superstars like Michael Jordan, Lebron James and Tiger Woods better than those from unknown actors. In 2021, Nike's brand value was 22.8 billion. You only have access to basic statistics. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. 4. Namely, Beckham has one of the biggest endorsement deals in the NFL right now. Figures prior to 2021 taken from previous editions of this publication. According to the company's annual report for 2021-22, Nike is the world's largest seller of athletic footwear and apparel. According to a survey by Adobe in 2018, gen Z and millennials, who were born between 1980 and early 2010s, most likely use social media as their connecting channels with digital advertisements. Are you interested in testing our business solutions? [Online]. If you are an admin, please authenticate by logging in again. Nike eventually offered a five-year deal with base pay of $500,000 per year, triple any other NBA sneaker deal. North America comprises 36% of its market. A post shared by Tiger Woods (@tigerwoods). This could be, in part, because many celebrities like Woods may . The company was founded in 1964 by Bill Bowerman as Blue Ribbon Sports. While Endorsement, is a channel of brand communication in which a celebrity acts as the brand's spokesperson and certifies the brand's claim and position by extending his/her personality, popularity, stature in the society or expertise in the field to the brand. References Aaker, D . He signed a five-year $29 million deal with Nike in 2017, which was several times bigger than his salary at the time. Make sure your M2 store is not only in good shape but also thriving with a professional team yet at an affordable price. 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. 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. Nikes products help customers to trust in themselves, train both their body and mind to overcome the challenges of life. Nike lost 5% of its global revenue between 2019 and 2020. 1. endorsements, such as the Nike Air Jordan deal. 3. Being a track and field coach, he easily wrote the story for his own products and connected with audiences. Nike and Jordan show how successful a celebrity endorsement can be with effective marketing and the right celebrity. How to Get Your Car Sponsored Professionally. Nike has also sponsored many other successful track and field athletes over the years, such as Carl Lewis, Jackie Joyner-Kersee and Sebastian Coe. Woods has been a Nike spokesperson since 1996, and in 2001, he signed a $100 million deal spanning five years -- one of the most expensive sponsorship deals in history. One of the most iconic endorsements goes to the partnership between Michael Jordan and Nike with the release of the Air Jordan brand. It currently only owns one other major brand: Converse. READ NEXT:The Jordan Effect: How Air Jordan Went From A Struggling Sneaker Line To A Billion-Dollar Brand, Sources: Inside Sports, Yahoo Finance, Finances Online, Forbes. Nike has filed suit against companies citing patent infringement, including against Adidas and MSCHF for its Lil Nas X shoes. It has taken hundreds of marketing minds decades of work to craft the powerhouse image we know today. Are you interested in testing our business solutions? (Vox). Nike has all but cornered the market on footwear, but the opportunity remains for it to set the standard in other areas. His mission, as well as the brand mission in those days, might have been creating shoes for athletes. In 2021 alone, Nike's advertising and promotion costs amounted to approximately 3.11 billion U.S. dollars. Images often show the bold, fearless side of the users when they use Nike products. 3. Magento Commerce or Adobe Commerce is a registered trademark by Adobe. Nike has acquired and divested a number of companies over time, including Cole Haan and Hurley International. (Statista). It maintains other valuable brands. (Statista). On October 18, the NBA threw them out of the game. Once you get the answer to the positioning question, even not easy, all of your marketing tactics will automatically work to affirm the qualities and gain some space in customers minds. A post shared by LeBron James (@kingjames). "As athletes, we're always going to struggle with . Be fearless and just do it with your marketing strategy, like them. SEMRush shows that over 60M users land on Nikes website monthly, spending almost 7 minutes on the site and browsing almost 5 pages. The Jordan Brand had revenue of $3.1 billion in the fiscal year ending May 2019only 8% of company revenue but likely . News on all your favorite celebs, reality TV, and movies. Distribute storytelling across social media channels. Female executives at Nike exposed a culture plagued by sexual harassment, leading to resignations from other male leaders. Please create an employee account to be able to mark statistics as favorites. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Competition continues to be fierce in the market. Nike's market cap of $136 billion is three times the size of Adidas. The top nine models were all made by Nike. Nike now has a virtual monopoly in the once-competitive basketball sneaker business. Nikewomen is a particular channel for women on Instagram. It has been plagued by sexual harassment allegations. Fortunately, the NBA can't keep you from wearing them.". Nike's marketing strategy. Nike figures come from the company's annual report. Kylie Jenner: Puma, $1 Million. 43 times what it was before it added Jordan. She has a Bachelor of Arts in communications from the University of Pittsburgh and an MBA from Robert Morris University. Nike's endorsements with LeBron James (NBA), Kevin Durant (NBA) and Cristiano Ronaldo (Football) are valued at $30 million each. 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. Please create an employee account to be able to mark statistics as favorites. 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. This means that Jordan brand incorporates more value . Professional athletes have arguably the best career in the world as their impact goes beyond the field of sports. "Nike's first signature athlete was welterweight wrestler, Wayne Wells. If you go to these two pages, you will see perfectly corresponding voices as well as actions that Nike speaks and does. Over the years, Nike has spent generously on sports endorsements with athletes ranging from football to golf. 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 . Is that, however, everything that Nikes doing? The two women on the videos shared about their works and ambition to revolutionize fitness through community. Customer signing up for a membership is only a part of Nikes customer experience. each of them is a notable individual and embraces distinct qualities. Nike is the master of masters in storytelling, you cant deny. To use individual functions (e.g., mark statistics as favourites, set In a market with a very high proliferation of local, regional and international . Actual payments under some contracts may be higher than the amounts listed as these contracts provide for bonuses to be paid to the endorsers based upon athletic achievements and/or royalties on product sales in future periods. When members use the apps, their engagement score is reflected in the main Nike rewards app. 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. Customers can then scan the app in Nike stores and at Nike events to earn rewards while they attend. When top athletes are seen wearing Nike clothing, their fans want to wear it too. With expectations of making $3 million in sales in the first year, Air Jordan's earned $126 million. Nike generated $3.6 billion in 2020 revenue from its Jordan footwear line . 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. It could rely on its strong reputation for quality in other product lines moving forward, or even develop new products that create new segments. Published by. In 2021, over 50 percent of the Adidas Group net sales were . Nike has a clear-cut identity as a sportswear brand, which has been building for a long time with multifaceted marketing strategies. Michael Jordan & Hanes Nike has recently made drastic moves to sell directly to consumers, opening its own retail storefronts and even selling directly online. However, the reasons behind this popularity that Nike gains includes a necessary element, an affiliate program. (Statista). You will be surprised to find out that shoes are not the only thing that has brought Nike this far. A fresh take on sports: the biggest news and most entertaining lists. Nike introduction. How has Nike been guiding its customers through the online shopping experiences smoothly? The firsts qualities of Nike that people can think of are being lightweight, comfortable, durable, and supportive. In terms of your overall marketing strategy, this means** figuring out where your audience hangs out and seeing how you can best reach them. Counterfeit goods accounted for $461 billion in world trade. Economists Christopher R. Knittel and Victor Stango found that Woods' portfolio of sponsors lost around 2 percent of their market value 10 to 15 trading days after the scandal. Nike generated more than $23 billion in revenue from footwear. For example, the company currently has a five-year $1.1 billion sponsorship deal with the NFL to outfit players on all teams, helping to expand their market share and cement their position as global leader in the sports apparel market. No better endorsement deal in history has been as popular and lucrative as Michael Jordan and Nike. She's hyped Windows 95, Diet Coke, Smartwater, and more recently, Aveeno. Laura Woods is a Los Angeles-based writer with more than six years of marketing experience. Quick hiring process. That is just the history of Nike; how about the marketing performance that the company has? . Please create an employee account to be able to mark statistics as favorites. Net sales of the Reebok brand worldwide from 2006 to 2022, Sportswear & sporting goods companies by worldwide revenue 2021. 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. Nike stores and other retailers spotlight its ability to offer something to every customer in the market for performance gear, and its lines continue to expand based on consumer demand. Considering this, What commercials are celebrities in? The Nike Swoosh is ubiquitous today, yet that was hardly the case in the mid-1980s. It has a number of celebrity endorsements. (Statista). However, like many brands, it has both strengths and weaknesses, and faces obstacles it must rise above in order to maintain its success. Can The Math Game Help The Denver Nuggets Beat The Phoenix Suns? Michael Jordan's net worth explained - including Air Jordans and Nike deal worth 1bnhttps://t.co/IoJZQ4jv37 pic.twitter.com/zxR5qg4pk3. Lets explore a full analysis of the strengths, weaknesses, opportunities, and threats facing this company. The Intriguing Finances Surrounding $66 Million Takefusa KuboTracked By Real Madrid, Coach Darryl Sutter Fired As Calgary Flames Continue Summer Of Change, Philadelphia 76ers Look To Win First Playoff Series Over Boston Celtics Since 1982, FC Barcelona Tell Newcastle United Their Raphinha Asking Price: Reports, biggest shoe deal among active NBA players, when announcing Nikes fiscal second-quarter results. Being a big brand in a multitude of industries, Nike has collaborated with many celebrities and influencers. According to CNBC, Nikes online sales has reached over 50% of total revenue, updated in Sep, 2020. Adidas' and Puma's financial year ends December 31st of each year. Rory McIlory was only sixteen when he became a professional golfer and began competing on the green fields. (Statista). The Marketing Science Institute published a study noting the Nike golf ball division increased profits by $103 million from 2000 to 2010, due to the companys endorsement deal with Tiger Woods. It can improve working conditions. Size of the global activewear market 2021 to 2028, Leading sport clothing brands in France 2021, by number of users, Global sports footwear market revenue 2018-2028. Nike spent $1.47 billion on marketing in the United States. It offers a unique and fully customizable buying experience that cant be imitated in a department store, allowing consumers to purchase products that are specific to their tastes and preferences. All Rights Reserved. (Statista) 2021's Nike brand value was one of the lowest recorded in years. Tiger Woods. Nike now has a virtual monopoly in the once-competitive basketball sneaker business. Nike has mastered the art of producing quality products at a relatively low cost. Sponsorships and celebrity endorsements can make or break a brand, and Nike invests . In, Nike. 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. This statistic shows Nike's projected endorsement contracts commitments from 2021 to 2026 . Hailing from Ireland, McIlory has become the face of professional golf in recent years. 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. (January 31, 2022). Tiger Woods: $20 million/year. 5. Learn more about how Statista can support your business. Check out the following conversation on Twitter, when a customer mentioned Nike on his post: Nike has truly turned Twitter into a place to be heard from its customers. These endorsements are a vital part of the brands success that cannot be discounted. The New York Times reported the soda giant was thinking big far beyond TV or print ads and was aiming to "get into the Beyonce business.". Nikes SEO strategy is also top-notch. Retail sales worldwide for apparel and footwear reached $1.9 trillion in 2019. For example, Nike recently celebrated the anniversary of their famous Just Do It tagline with an advertisement featuring a voiceover by movie star Bradley Cooper and cameos from a variety of famous athletes, which gained more than four million views during the first week it was online. Now lets see what marketing strategy Nike uses to create so much buzz around the brand and continue growing despite fierce competition from other sports industry players. Its clear that the crisis has pumped up the development of Nikes e-commerce strategy significantly. Nike's endorsement contracts commitments worldwide from 2021 to 2026 (in million U.S. dollars) [Graph]. Customers of Nike need to be aware of their strength and grow the ambition for reaching stronger, faster, and higher. Use Ask Statista Research Service. Its base product line touches most parts of the market. Reebok, which Adidas bought in 2005, posted lower revenue last year than it did in 1990. Get full access to all features within our Business Solutions. Social media platforms are one of the most low-cost but effective tools for social hearing, where the opinions are authentic and objective. (Statista). A post shared by Cristiano Ronaldo (@cristiano). Fun fact: The brand name Nike is not a senseless sequence of letters. #2 Feature collaborations with celebrities. A legendary football player to come out of Brazil, Neymar Jr. needs no introduction. Show publisher information You need a Statista Account for unlimited access. Revenue figures for Nike were converted from USD to Euros at an exchange rate of 1 USD - 0.913 Euros (April 19, 2023). If you are an admin, please authenticate by logging in again. Cristiano Ronaldo is the most sought-after celebrity in the world with several endorsements under his belt. The stronger the brand is, the quicker people can relate it with a differentiated characteristic or product. 50. The Beaverton, Oregon-based company has partnerships with many of the most talented and famous athletes in the world. Some experts predict that Nikes revenue will be able to grow by almost 25% through the fiscal year 2021 and reach $45.4 billion. If this all seems like a lot of information for you, thats because it is. These endorsements are a vital part of the brand's success that cannot be discounted. Tiger Woods has amassed a net worth of $800 million through his endorsement deals. 4. Lets see what sort of marketing strategy Nike used to achieve and maintain their status of a markets dominant player. How much does Nike spend a year on endorsements? Nearly 65% of Nike products are sold at third-party retailers. Research expert covering shopping behavior, sports and leisure retail, and the subscriptions and direct selling industry. Customers flock to stores in droves to purchase Nike products. This allows it to more tightly control distribution and pricing and also creates an air of exclusivity and scarcity that could continue to contribute to its valuable brand perception. While Nike helped make Jordan a billionairehis current net worth is $2.1 billionhe paved the way for Nike to leave Adidas and other competitors in the dust. Nike generated $30.6 billion in revenue worldwide from its major product segments, including sportswear, running gear, training gear, and specialty sport and footwear lines. 6. Female athletes say it has not always been that way. Nike is one of the businesses that put customers first - a phrase that you might hear several times. 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. 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. Scam artists create knockoff versions of an otherwise identifiable brand, hoping to fool buyers into thinking they are the genuine article when the quality is shoddy and the product is not authentic. Nike made a $100 million, 10-year deal with the hustler, which earned the sports star. He had endorsement deals with Coca-Cola and Nutella, which earned him $31 million per year. (Statista). 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. January 31, 2022. Accessed May 01, 2023. https://www.statista.com/statistics/269599/net-sales-of-adidas-and-puma-worldwide/, Statista. The Swoosh was even more dominant in the lifestyle basketball category, with a 96% share. Nike has 75,400 employees worldwide. Please do not hesitate to contact me. 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, . It is most well-known only for its footwear. (ABC News). Chart. And content is the core element of any marketing strategy as well. Going into the 21st century, Nike has retail outlets and product distributors in more than 170 countries, while its logo - a checkmark with a curve called the swoosh - is recognized throughout the world. Manufacturing costs typically stay low. Labor conditions are problematic. 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. In order to remain successful and seen as environmentally-friendly, it must take full advantage of the growing pool and research into earth-conscious practices for manufacturing and development. This helps increase their profit margins, as well as the development of a trade and distribution empire sure to keep every retailer well-stocked to meet increasing demand. Please do not hesitate to contact me. Then you can access your favorite statistics via the star in the header. Beyonce: Pepsi, $50 Million. MJs paychecks climbed as the Jordan Brand got bigger. Nike has frequently fallen under fire for working conditions in its overseas factories. 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.

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