Despite Speculation Of A Drop In Sales, Nike's Numbers Are Up 31 Percent Since Kaepernick Became Face Of New Campaign
Won't Nike do it?
In the business world, it is clear that very few understand the effectiveness of protest. Perhaps somebody should help them out.
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On Sept. 3, Nike apparel unveiled their Just Do It campaign, featuring former NFL quarterback Colin Kaepernick. Since then, financial projections for the brand were primarily negative, however, the latest data proves otherwise. Nike sales have actually increased 31 percent -- particularly online buying -- over the last five days.
Hetal Pandya, co-founder of Edison Trends told Market Watch: “There was speculation that the Nike/Kaepernick campaign would lead to a drop in sales, but our data over the last week does not support that theory.”
According to the financial news site, the company’s stock shares landed at the bottom of the Dow Jones exchange on the first trading day of September. NKE closed at -0.02 percent and eventually fell 3.2 percent on Monday, when Nike went public with the Kaepernick ad campaign. Adding to the the drop in market value, a public outcry against the athletic brand erupted across national media. And of course, you know who had something to say:
What was Nike thinking?— Donald J. Trump (@realDonaldTrump) September 7, 2018'
Scores of misguided white folks shared the burning and desecrating of their Nike apparel on several social platforms. Naysayers threatened a mass boycott, while pro-Nike supporters exalted the sneaker brand for advocating on Kaepernick’s behalf. Celebrities such as D.L. Hughley commended Nike for aligning itself with the social justice movement.
Dl Hughley Talks Nike and Kaepernick #Topbuzz https://t.co/akjl64TcJM— MFW Sr. (@Dr2deep365) September 7, 2018'
Nick Cannon was “compelled” to buy out a store’s entire sock inventory to show love for the homeless and the apparel brand.
A few good cops represented by the National Black Police Association announced their intent to stand by Kaepernick and buy even more Nike products as well. Surely, these testaments of support, among others, are having a profound impact on the turnaround in sales reflected. It not only shows the power of the black dollar, but also the power in protest.
Check out the ad campaign below on Kaep’s Instagram: