Retailers jump on Rio Olympics bandwagon
Food and beverage retailers as well as major department stores and discount chains are taking advantage of the Summer Games’ marketing potential.
Coca-Cola, which has been an official sponsor of the Olympics since the 1928 Amsterdam Games, has launched a limited-edition gold-colored bottle for the upcoming event in Brazil.
Under its “#ThatsGold” campaign, the beverage maker is encouraging consumers to share their own “triumphant moments” online using the hashtag for a chance at winning gift sets after the Olympics conclude.
“The electrifying feeling, passion and happiness you can get from the Olympics corresponded well with our product, which is why we have sponsored the global event for such a long time,” a Coca-Cola spokesperson said.
P&G, another multinational company that has been an official sponsor of the Olympics, rolled out a “Thank you, Mom” campaign that acknowledges the hard work and sacrifices that mothers have made to raise their children.
Department stores, discount chains and convenience stores are likely to see a temporary sales boost as more customers purchase food and drinks to accompany Olympic watch parties.
Shinsegae Department Store said sales of grocery products at its branches soared more than two times in years with global sports events compared to years with none, based on data compiled from the 2012 Summer Olympics in London, 2014 FIFA World Cup in Brazil and 2016 UEFA European Championship in France.
The company said grocery sales rose by 23.1 percent during the Olympics in 2012, compared to that year’s average sales growth rate of 11.3 percent.
For this year’s Games, Shinsegae Department Store is holding a “Summer Food Festival” until Aug. 21, the day of the closing ceremony in Rio. Customers who buy a coupon worth 15,000 won ($12) at any branch nationwide can enjoy as many as three menu items from well-known restaurant franchises participating in the event. Many of the menu items cost more than 10,000 won each.
“Big sports festivals are one of the vital factors behind department stores’ sales growth,” said a spokesperson from Shinsegae Department Stores’ grocery division.
Riding on the trend, discount chain Lotte Mart is selling instant versions of traditional Brazilian staples such as churrasco, Brazilian barbecued meat. It will also offer discounts on chicken and beer products, which are typically ordered during sporting events.
Convenience store chain GS25 is giving away Olympic-themed bear figurines designed with top talent agency YG Entertainment to those who purchase the convenience store’s private-label beverages and collect 30 stamps on the GS25 smartphone app.
BY JIN EUN-SOO [firstname.lastname@example.org]