Talk of Nike Inc. sales taking a hit from the company’s decision to put ex–NFL player Colin Kaepernick at the center of its latest “Just Do It” campaign is looking overblown, based on data from a Silicon Valley digital commerce research company.
After an initial dip immediately after the news broke, Nike’s online sales actually grew 31 percent from the Sunday of Labor Day weekend through Tuesday, as compared with a 17 percent gain recorded for the same period of 2017, according to San Francisco–based Edison Trends.
“There was speculation that the Nike/Kaepernick campaign would lead to a drop in sales, but our data over the last week does not support that theory,” said Hetal Pandya, co-founder of Edison Trends.
Nike’s stock has also held up after its initial slump. The stock was up 1 percent Friday and remains in the black for the month. It has gained 29 percent in 2018, while the Dow Jones Industrial Average, which since 2013 has counted Nike as a member, has gained 5 percent, as the S&P 500 index has risen about 8 percent.
The news generated plenty of online buzz, with social engagement around Nike and Kaepernick rising sharply this week, according to 4C Insights, a marketing technology company. Mentions of and comments about Nike on social media platforms rose 1,678 percent Sunday and Monday, according to 4C data. Mentions of Kaepernick spiked 362,280 percent, the data showed. [READ MORE...]