The article discusses the ongoing running boom in Stockholm, highlighting the influx of running enthusiasts and the ramifications for major sports brands like Nike and Adidas. It notes that while Nike faced a decline due to an overemphasis on performance marketing, Adidas suffered a drop in market share as well. This shift allowed new entrants, such as Hooka and On, to capture significant market portions. The piece emphasizes the importance of balanced marketing strategies, as effective brand building generates greater revenue than performance-focused tactics alone.
As big running brands failed at their own game, new players emerged (such as Hooka and On) and started grabbing real chunks of market share.
One of the reasons for Nike's descent from the sports brand throne was an over-investment in 'performance marketing' relative to brand building.
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