France is about to become the focus of the world, as the Olympic stars shine, as it will for any brands that have backed the 2024 Olympic Games in Paris. They will all make a healthy return on their money. The global message the Olympic Games offers is hope, as worldwide support is increasing.
For companies sponsoring the event, this presents a rare chance to leverage the principles of the Olympic and Paralympic Games: bravery, rivalry, esteem, elevation, and mastery. This goes beyond just the chance to increase brand recognition and preference, thanks to its wide exposure to a possible audience of 3 billion or more viewers. Companies can also engage more deeply with their brands through special products.
For instance, P&G will incorporate over 30 of its brands into creating campaigns inspired by the Olympic and Paralympic Games and will launch in-store and online sales programs with more than 150 stores globally. Evaluating the return on investment for such a venture is challenging; companies must not only focus on the immediate sales figures but also consider the long-term effects on brand worth and the engagement of their thousands of employees who are proud to work for a company linked to the Olympics — not to mention the opportunity to strengthen ties with French government bodies.
Paris Olympics when the World Stops to Watch
The advantages will differ greatly based on the extent of collaboration and financial backing from the 15 worldwide Olympic Partners, including Allianz, Coca-Cola, Samsung, Toyota, and Visa, along with various national partner brands, whether they fall into the high-end category (like Accor, BPCE, Carrefour, EDF, LVMH, Orange, Sanofi), serve as official sponsors (such as Air France, Danone, Decathlon…), or official endorsers. In general, the Olympic Games also present a prime chance for brands looking to connect with women and younger demographics.
Samsung is sponsoring athletes in surfing, skateboarding, and breakdancing. The company plans to use the Paris event to set up a temporary store on the Champs-Elysées and to announce its worldwide Galaxy Unpacked event in Paris on July 10. Some international partners are putting in around $20 to $30 million, while local high-end partners are investing approximately €90 million. LVMH is putting in closer to €150 million, utilising the craftsmanship of its various “maisons,” such as Chaumet, Dior, Louis Vuitton, Moët Hennessy, and Sephora, for the medals and Berlutti for the official attire.
Carrefour, the leading supermarket chain for supplying fresh food for athletes’ meals, is focusing on keeping its supply chains as local as possible. Enedis (a subsidiary of the state-owned electric utility EDF), has linked the Olympic venues to the primary power grid, utilising renewable energy sources for the games instead of relying on diesel generators to power stadiums. This ambitious environmental focus has enabled sponsors like Arcelor Mittal, CMA CGM, and Coca-Cola to showcase aspects of their sustainability initiatives, though the risk of greenwashing is still prevalent.
Coca-Cola has made considerable strides in providing 13 million reusable caps, 700 water fountains, and bottles made from recycled materials. Nonetheless, critics are justified in noting that the company is not making a fundamental shift in its business approach and continues to be among the leading contributors to plastic pollution globally.
It’s a phenomenal opportunity for ecommerce retailers to lend their support to it as well. Rather than perceive it as jumping on the bandwagon, this is a global event, and an opportunity for a celebration for everyone. A time when people of the world unite. Disagreements are set aside, as much as they can be. No reason, therefore, not to lend your weight to the event, be in on the act, participate, be in support of, or simply offer themed campaigns to earn some benefit. Either way, let’s all get involved, we all need some excitement and exhilaration.
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The 2024 Paris Olympics will showcase some of the best basketball players from around the globe, including NBA stars and emerging international talents. It’s the perfect stage for these athletes to shine and make a statement