Market Overview

Under Armour And Nike See Increase In Consumer Mindshare Due To Olympics

Under Armour And Nike See Increase In Consumer Mindshare Due To Olympics

The Olympics are certainly about top global athletes coming together and competing for national pride. But the event is also a huge opportunity for a number of companies to capitalize on the massive worldwide audience.

With this year’s Rio Games set to wrap up on Sunday, the latest data from TickerTags indicate that athletic brands Nike Inc (NYSE: NKE) and Under Armour Inc (NYSE: UA) have gotten big Olympic bumps on social media.

TickerTags monitors social media sites to identify trends by searching for words and phrases that appear together in social media content, such as tweets.

Related Link: Here's Why Under Armour "Must Be Going Wild Behind Closed Doors"

While the numbers show Nike generated the most Olympic buzz in terms of absolute numbers, Under Armour saw a bigger consumer "mindshare" boost in percentage terms. Under Armour normally captures about 2 percent share of social media mentions of top four athletic brands: Under Armour, Nike, Puma and adidas AG (ADR) (OTC: ADDYY). However, during the Rio Games, Under Armour’s share of social media mentions jumped to 6 percent.

Nike was certainly a winner as well. Nike normally captures 55 percent of athletic ware social media brand mentions, but that percentage has jumped to 72 percent in social media content related to the Olympics.

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