In 2021 alone, Nike's advertising and promotion costs amounted to approximately 3.11 billion U.S. dollars. In a market with a very high proliferation of local, regional and international . Customers can then scan the app in Nike stores and at Nike events to earn rewards while they attend. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. 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. #2 Feature collaborations with celebrities. Nike's endorsement contracts commitments worldwide from 2021 to 2026 (in million U.S. dollars) [Graph]. These lucrative partnerships have enabled sports stars to earn more money outside of their game. Is there anything more particular about their marketing strategies and tactics? Magento 2 Extension Customization Service, Experienced M2 Developers Ready To Join Your Team, Best-sellers: Must-haves for all M2 stores, Sell touching stories instead of amazing products, Employ the power of social media marketing, #1 Nikes social media content type: User-generated content, #2 Feature collaborations with celebrities, #3 Join in customers social conversations, Ensure easy, exciting and hassle-free online purchasing, #3 Useful, logic and detailed product filtering, Apply Nike marketing strategy to your brand, Step 2: Figure out how to reach your audience, Step 3: Create content that addresses audience needs, improves the eCommerce shopping experience, Magento 2.4.6 Release Notes - Highlight Features & How to Upgrade. You can only download this statistic as a Premium user. Michael Jordan Has Made Over $1 Billion From Nike - Forbes statistic alerts) please log in with your personal account. Nike understood the reason and meaning of storytelling very early and has constantly followed this strategy to cultivate customer loyalty and grow brand awareness. When members use the apps, their engagement score is reflected in the main Nike rewards app. 10 best celebrity ads of 2021 . Its base product line touches most parts of the market. 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. Reuters: Adidas calls in fitness experts to revive Reebok. (Statista). 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. Get full access to all features within our Business Solutions. Nike place high value on NBA players as endorsement partners due to their significant influence on fashion and pop culture, which ties into Nike's growing emphasis on lifestyle and culture. Nike, a brilliant storyteller, has created the sense of belonging for any of its customers for almost 50 years.