Nike sees 31% rise in online sales following controversial campaign
The US-based sportswear manufacturer, Nike, has seen its online sales increase by 31% during the weekend following the company’s latest campaign, according to Edison Trends.
The campaign features Colin Kaepernick, who refused to stand during the US national anthem at a game of American football in protest to racism in 2016.
The protest by the San Francisco 49ers player was seen by some, including the President of the United States, as disrespectful.
Nike’s sales grew by almost double its annual increase of 17% last year in the space of a few days.
“Nike’s choice to use Colin Kaepernick as part of its latest campaign was of course a calculated risk; short-term press spike balanced against (hopefully) short-term criticism from some quarters and the hope that the longer-term commercial effect would be net positive. If POTUS is tweeting about your brand (albeit negatively) the news of this campaign is bound to go global and get people talking. After some initial fall out, Nike’s stock has rebounded. There may be further ramifications but at least in the short-term, Robinhood (a no-fee brokerage) reported 15,191 investors have added Nike to their portfolios,” commented Thom Newton, CEO & Managing Partner at Conran Design Group.
“Nike knows its customers and will be confident of a positive response to the campaign, at the very least in terms of its attitude toward freedom of expression. And they probably tested it in any case. Brands know that they need to express a personality to be meaningful to their audiences and differentiate themselves, and indirectly by asking us to ‘believe in something’ Nike is really asking us to believe in them. In most categories consumers prefer brands that take a position because it helps us understand what they're about.”
“According to Edison Trends the Just Do It campaign has driven a 31% increase in sales which suggests there are a lot of people who like what they see. But however calculated a move and however divisive, this is after all just a campaign. It isn't reflective of Nike's more inclusive, long-term mission to bring inspiration and innovation to every athlete [and - they say - if you have a body you are an athlete] which is perhaps a little corporate, but certainly apolitical in contrast to the campaign. Colin Kaepernick may be helping Nike drive brand awareness and sales, but the campaign's impact on its overall brand image and favourability remains to be seen.”
G7 Summit guide: What it is and what leaders hope to achieve
Unless you’ve had your head buried in the sand, you’ll have seen the term ‘G7’ plastered all over the Internet this week. We’re going to give you the skinny on exactly what the G7 is and what its purpose on this planet is ─ and whether it’s a good or a bad collaboration.
Who are the G7?
The Group of Seven, or ‘G7’, may sound like a collective of pirate lords from a certain Disney smash-hit, but in reality, it’s a group of the world’s seven largest “advanced” economies ─ the powerhouses of the world, if you like.
The merry band comprises:
- The United Kingdom
- The United States
Historically, Russia was a member of the then-called ‘G8’ but found itself excluded after their ever-so-slightly illegal takeover of Crimea back in 2014.
Since 1977, the European Union has also been involved in some capacity with the G7 Summit. The Union is not recognised as an official member, but gradually, as with all Europe-linked affairs, the Union has integrated itself into the conversation and is now included in all political discussions on the annual summit agenda.
When was the ‘G’ formed?
Back in 1975, when the world was reeling from its very first oil shock and the subsequent financial fallout that came with it, the heads of state and government from six of the leading industrial countries had a face-to-face meeting at the Chateau de Rambouillet to discuss the global economy, its trajectory, and what they could do to address the economic turmoil that reared its ugly head throughout the 70s.
Why does the G7 exist?
At this very first summit ─ the ‘G6’ summit ─, the leaders adopted a 15-point communiqué, the Declaration of Rambouillet, and agreed to continuously meet once a year moving forward to address the problems of the day, with a rotating Presidency. One year later, Canada was welcomed into the fold, and the ‘G6’ became seven and has remained so ever since ─ Russia’s inclusion and exclusion not counted.
The group, as previously mentioned, was born in the looming shadow of a financial crisis, but its purpose is more significant than just economics. When leaders from the group meet, they discuss and exchange ideas on a broad range of issues, including injustice around the world, geopolitical matters, security, and sustainability.
It’s worth noting that, while the G7 may be made up of mighty nations, the bloc is an informal one. So, although it is considered an important annual event, declarations made during the summit are not legally binding. That said, they are still very influential and worth taking note of because it indicates the ambitions and outlines the initiatives of these particularly prominent leading nations.
Where is the 2021 G7 summit?
This year, the summit will be held in the United Kingdom deep in the southwest of England, with Prime Minister Boris Johnson hosting his contemporaries in the quaint Cornish resort of Carbis Bay near St Ives in Cornwall.
What will be discussed this year?
After almost two years of remote communication, this will be the first in-person G7 summit since the novel Coronavirus first took hold of the globe, and Britain wants “leaders to seize the opportunity to build back better from coronavirus, uniting to make the future fairer, greener, and more prosperous.”
The three-day summit, running from Friday to Sunday, will see the seven leaders discussing a whole host of shared challenges, ranging from the pandemic and vaccine development and distribution to the ongoing global fight against climate change through the implementation of sustainable norms and values.
According to the UK government, the attendees will also be taking a look at “ensuring that people everywhere can benefit from open trade, technological change, and scientific discovery.”