Warm up your brand strategy ahead of Paris 2024 Olympics
WGSN Insider
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This summer’s Olympic and Paralympic games in Paris represent an opportunity for brands to engage with an estimated four billion TV viewers, as well as social media users. From the introduction of breakdancing as a sport to rising opportunities for luxury brands, we explore five ways to capitalise on the 2024 summer game events.
The opportunity
This year, France will host the Summer Olympic Games for the first time in a century and the Paralympic Games for the first time in history.
Pierre Blache / Pexels
Brands have an opportunity to align with an estimated 1.5 million spectators and four billion TV viewers who are set to consume 350,000 hours of TV broadcasting amid the most streamable Olympic Games in history. There are also 15,000 athletes set to compete in events, which translates to 15,000 potential creators to lean on for conversion.
As winning athletes are primed to become influencers, brands must pay close attention to future-proof their strategies.
Leverage sports stars as talent
Play into the games by working directly with athletes to expand their personal brands via emotive storytelling.
Brands are launching creative collaborations with athletes to attract their fans. Similar to reality TV stars, Olympians will inevitably garner brand deals once they are given a platform. One study shows athlete marketing can have a profound impact on fan engagement and motivation. Focusing on Gen Z is key, as they are 21% more likely than the general population in the US to consume sports on social and video streaming platforms. Tapping into athletes who are new to the games this year will attract this younger cohort.
Integrate sport and luxury fashion
Explore the convergence of fashion and sport and lure in women shoppers, following record-breaking coverage and viewership of women’s sport during the Tokyo Olympics.
WGSN Street Style Image / Paris
Designers should develop merch opportunities that encourage young fans to buy into their brand, as Millennials and Gen Z are forecast to represent 70% of the global luxury market by 2025.
Some brands are enabling spectators to engage and ‘twin’ with athletes virtually. Embrace the digital twin phenomenon on Roblox to attract Gen Z users who spend money on skins and collectables. In China, the revenue in the online games market is projected to reach $6.53bn in 2024.
Build communities around growing niche sports
Pay attention to new Olympic sports such as the recently added breaking (breakdancing) event, which is set to attract younger viewers.
Breaking, originating from hip-hop, allows brands to expand on streetwear and lifestyle collections. Sportswear giant Nike will capitalise on this through its role as the official sponsor of the US, Japanese and Korean breaking federations.
Partner with emerging women talent to attract the growing audience for women’s sports. Deloitte predicts women’s elite sports will generate global revenues of $1.28bn in 2024. One report shows women are attracted to behind-the-scenes sports content online and are more likely than men to follow volleyball, gymnastics and water sports like swimming, diving and water polo.
Keep the momentum for the Paralympic Games
Once an overlooked event, the Paralympic Games in Paris is expected to draw 3.4 million spectators, representing huge opportunities for brands.
Yusuf Miah / Pexels
Amplify the stories of some of the 4,400 Paralympians participating in Paris 2024 and move beyond tokenism. Show support by incorporating self-care strategies into the mix. The Paralympic Games is a unique opportunity to spotlight sport and disability, inspire individuals and engender social change. An estimated 1.3 billion people in the world live with a significant disability and an estimated 10% of Americans are living with an invisible illness.
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