President Donald Trump has made his name from sales of everything from suits to steak, but this is his first time selling sneakers — even though that probably wasn’t his intention.
Nike sales jumped by 31 percent after debuting quarterback-turned-activist Colin Kaepernick as a new company spokesman — and market observers say the president’s public displays of anger may have backfired by drawing more attention to Nike.
“Controversial endorsements tend to generate a lot of hype,” said Marshal Cohen, chief industry analyst for retail at The NPD Group, a market research firm. “These kinds of statements and brand partnerships make for a big impact on brand selling.”
According to data from Edison Trends, online sales of Nike products jumped 31 percent between the Sunday before and the Tuesday after Labor Day, nearly double last year’s 17 percent increase over the same time period. Kaepernick is part of Nike’s 30th anniversary of its “Just Do It” tagline. A TV ad narrated by Kaepernick debuted Thursday on the opening night of the regular NFL season.
“Nike is a company that is focused on younger generations and expanding their market. This ad did that for them,” said Hetal Pandya, co-founder of Edison Trends.
