What Should Nike Do After the Olympics? A Forward-Looking Strategy

The Olympics have been a bright spot for Nike, boosting interest in their products and driving traffic to their website.

But what should Nike do after the Olympics to maintain this momentum and address some of their recent challenges? Let's dive in.

First, we need to ask: what should Nike do after the Olympics to capitalize on this success? Here are my thoughts:

1. Refocus on core customers: Nike needs to reconnect with its base, especially runners. They've lost ground to brands like Hoka and On in recent years. Nike should revitalize its Run Clubs and engage more actively with running communities of all ages and backgrounds.
2. Balance innovation and accessibility: While limited-edition sneakers create buzz, Nike shouldn't neglect their mainstream offerings. They need to ensure they're meeting the needs of everyday athletes, not just collectors.
3. Invest in real-world experiences: The Metaverse might be flashy, but running is a physical, in-person activity. Nike should prioritize creating tangible experiences for their customers over virtual ones.
4. Gather customer insights: Nike needs to understand why they're losing market share in certain areas. This means spending time with customers, listening to their needs, and adapting accordingly.
5. Maintain Olympic momentum: Use the boost from the Olympics to showcase how Nike products perform in real-world athletic contexts, not just as fashion items.
6. Innovate thoughtfully: Nike's known for innovation, but they need to ensure new products truly meet customer needs rather than just chasing trends.
7. Broaden their focus: While major events like the Olympics are important, Nike shouldn't neglect year-round engagement with their customer base.

The key for Nike is to strike a balance between high-profile marketing events like the Olympics and consistent, everyday engagement with their customers. They need to remember that customer experience is an ongoing process, not a one-time event.

In my opinion, Nike should use the post-Olympic period to get back to basics.

They should focus on understanding their customers, creating products that truly meet their needs, and building lasting relationships with their core audience.

It might not be as exciting as launching in the Metaverse, but sometimes the tried-and-true methods are the most effective.

Remember, in the world of athletics and sportswear, it's not just about the big races - it's about the daily training too. Nike needs to apply this principle to their business strategy as well.