Let the games begin! As the 22nd Winter Olympics kick off in Sochi, we at InfoScout want to understand how the Olympics can impact sales.
Right now, athletes and spectators are gearing up for the competition on the field while advertisers are holding a competition of their own. This competition is for share of your mind and it’s been brewing for years. We asked our highly engaged panel of U.S. shoppers about their interest in the Winter Olympics just before Opening Ceremonies. Some of what they told us bodes well for the Olympic games, however, shoppers may not be as likely to convert this interest into sales for the largest advertisers.
Three-fourths of shoppers indicated that they plan to watch or follow the Olympics. The vast majority (95%) indicated that TV is one way they will follow the Games. Internet News and Social Media follow closely behind and are likely to be the first sources of information that viewers turn to for the latest on Team USA. Let’s hope that advertisers have shifted a large portion of their Olympics ad dollars to new media.
Just over 40% of viewers indicate a high level of interest in the Olympics; the majority may just catch a few highlights here and there. If you are wondering which events will be followed most, that title goes to Figure Skating.
Unfortunately, the only thing that shoppers seem to care about is Team USA and not the major sponsors behind them. Only 13% of shoppers indicated that they would be more likely to buy products from Olympics sponsors versus companies that do not sponsor the Olympics.
Though the games have just begun, already there are some clear winners emerging from our pre-Opening Ceremony survey. Looking at our Worldwide Sponsor Leaderboard, it looks 40% have already seen Coca-Cola or McDonalds ads, however “None of the Above” is surprisingly taking the Bronze ahead of P&G and Visa.
Look for a follow up with actual purchase behavior of our panelists, including how the Olympics is driving share of wallet for the big global sponsors.
Survey Details: 500 InfoScout panelists were given a smartphone-based survey starting on Feb 6th. All 500 responses were obtained in 48hrs.