The upcoming Olympic Games are set to have a profound effect on the retail industry worldwide. Companies have already reaped the benefits of the London Games, and Ireland is no exception.
Sport sponsorship has proven to be a crucial element in campaigns for high profile brands. According to a report in Checkout, shoppers show a positive disposition towards sport sponsorship, with half of all shoppers agreeing that they have a better impression of a brand that sponsors a team or sport they follow, and one in three admitting to having bought a product as a result of sports sponsorship. There is no better time to take advantage of this than in the run up to the Olympics, with one obvious team to support in the patriotic climate of Ireland.
P&G is one such brand, which has leveraged the current sporting environment in Ireland and abroad very successfully. P&G’s Olympic sponsorship has seen campaigns incorporating one of the Irish favourites Katie Taylor. P&G have ensured to maximise global and domestic media coverage for its brands in the lead up to the Olympics. They have achieved this through a holistic marketing strategy that reaches across TV, print, PR, digital and in-store activations. The ‘Proud sponsor of Mums’ campaign has been supported by ‘The nearest and dearest’ programme which saw P&G give tickets to every Olympic athlete in order to give a loved one the opportunity to see them in the first round of the Olympics. They have also employed breakthrough point-of-sale and retail entertainment activities. ‘Almost every brand in our portfolio has developed a unique campaign to celebrate the Olympics that leverages specific consumer insights and brand benefit, and is communicated across touch points’ (Sports Marketing and Olympics Project Director with P&G, Nathan Homer).
The Olympics are expected to generate millions for the retail sector in the UK and there are massive opportunities for Ireland to benefit from the spin-off. ‘A recent study by Retail Excellence Ireland revealed that retailers are expected to enjoy a sales lift of around €250 million on the back of the Euros, with a further €18 million if Ireland reaches the finals of the tournament.’ (Checkout, June 2012)
So, if you are in retail, make sure you support the Irish team this summer through high visibility POS in store to ensure a lift in sales during the Olympics.