WILL THIS WEEK BRING AN OLYMPIC RISE TO RETAIL SALES?

Even before the Olympics started, the retail industry has experienced a big spike in athletic apparel. The growing popularity of “athleisure” clothing have helped athletic apparel see an increase this year of 14% to $45.7 billion as of the end of May.

Now the Olympics are in full swing, and the athletes are all decked out in sponsor apparel and logos. Many retailers are selling specifically to the Olympics market. While these retailers may not separate out specific Olympic-driven sales, several are counting on its popularity to drive sales. Athletic apparel in the children’s department is expected to be successful, as younger viewers look up to the athletes. Patriotic colors of red, white and blue are also expected to be popular.

Dick’s Sporting Goods will have specific Olympic displays. Dick’s CEO Edward W. Stack, announced his company’s plan to donate $1,000 for every medal won by Team USA. Macy’s has an exclusive partnership with Ralph Lauren to sell opening and closing ceremony outfits in its stores. Nike, as an official Olympics sponsor, has over 100 Team USA products for sale, and Under Armour has a “country pride” collection.

Retail sales for June will be announced this Friday. May saw an uptick in sales. Retailers are hoping June and July were positive with back to school shopping, followed by buoyed sales in the athletic apparel segment this week. Check back to our blog page to see how the summer retail news is shaping up.

Sources: USA Today, Forbes