The Impact of Tokyo 2020 Summer Olympics on Chinese Brands

As the Tokyo 2020 Summer Olympics comes to a close, the topic of discussion in China has shifted from the controversial opening ceremony to the gold medals those incredible Chinese Olympic athletes had won. Team China has put up some fantastic performances in the Tokyo 2020 Olympics, especially in swimming, weightlifting, and shooting, where they smashed expectations and have seen significant breakthroughs. In terms of medals, Team China is second in both gold medals count total medals count. As a result of their outstanding performances, these Chinese Olympic athletes sparked many topics and discussions on various Chinese social media platforms, such as Douyin and Weibo, and attracted much attention. Whether it's about the performances in the Tokyo 2020 Olympics or the backstory behind their journey to become an Olympic champion, trends and topics related to Chinese Olympic athletes went viral in China. With the rising popularity of various Chinese athletes, many Chinese businesses also gained much awareness from the public and exploded in sales.

Team China's Yang Qian won the first gold medal of the Tokyo 2020 Olympics in the women's 10-meter rifle competition.

Image Source: Ann Wang / Reuters Pictures

For example, on July 24th, 2021, Team China's Yang Qian competed in the women's 10-meter rifle final of the Tokyo 2020 Olympics and won the first gold medal of the Tokyo 2020 Olympics with an Olympic record total of 251.8. During her incredible performances, Yang's pink nails, yellow-duck barrette, and carrot-shaped hair tie caught the attention of many viewers. Soon after she won the gold medal, many Chinese Olympic audiences went shopping, both online and offline, hoping to purchase the same product that Yang Qian, now an Olympic medalist, was wearing. On Taobao, a Chinese online shopping platform, more than 50 thousand units of the same yellow-duck barrette were sold. Various Chinese manicure stores also push out the same style of manicure that Yang had and have attracted many customers, seeing some great success. Such examples are seen on other Olympic athletes as well. After winning the Olympic diving gold medal in Women's 10-meter Synchronised Platform, Zhang Jiaqi mentioned that she wanted a Barbie doll as the reward in the interview. The interview soon went viral, and Barbie dolls sell both online and offline in China boomed. The same situation applies to Hou Zhihui. After Hou won the gold medal in the Women's 49kg weightlifting competition, the same thermos mug that she used to drink water before the competition went viral, attracting a huge amount of Chinese Olympics audiences to buy the product. 

Team China's Hou Zhihui won the Olympic gold medal and set an Olympic record in the Women's 49kg weightlifting competition at the Tokyo Olympics.

Image Source: AFP

However, these Olympic gold medalists have a more profound impact on the sports industry. The atmosphere of the Olympics, along with these amazing Olympic athletes, catalyzed the rising popularity of the sports industry during this time. Now in China, more consumers are willing to spend on sports, especially those that Team China has seen great success in, such as table tennis and badminton. From sports equipment to sports clothing, the Chinese sports industry boomed during the Tokyo 2020 Olympics. Every gold medal that Team China has won not only invigorate pride to the country and its citizens but also brings immense business values to many Chinese businesses. 

At the Tokyo 2020 Olympics, Team China's Ma Long became the first player in Olympic history to win Men's Singles Gold in table tennis for a second time.

Image Source: Jung Yeon-je / AFP

For many Chinese brands, the Tokyo 2020 Olympics is a golden opportunity to spread their brand awareness. Various Chinese brands utilized different marketing strategies during the event, hoping to reach out to more consumers. A great example would be the endorsement deal that Ping An Insurance reached with Chen Lijun after winning the gold medal in Men's 67kg weightlifting at the Tokyo 2020 Olympics. Despite having a difficult childhood and struggling with various injuries, Chen Lijun became a part of Team China at the Tokyo 2020 Olympics and is now an Olympic gold medalist. His story touched many netizens in China and was trending on Weibo. For Ping An Insurance, the endorsement deal with the widely admired Chinese Olympic gold medalist Chen Lijun allows the company to establish a great brand image, attracting more consumers. 

Chen Lijun of China celebrates on the podium after winning the gold medal and setting an Olympic record in the men's 67kg weightlifting competition at the Tokyo 2020 Olympics.

Image Source: Getty Images

Some other Chinese brands took a different approach. Anta became the official sponsor for Team China's outfit, allowing the brand to be seen whenever a Chinese Olympic athlete stands on the podium. KanS chose to partner with the entire Chinese swimming team at the Tokyo 2020 Olympics and made documentaries to record and explain the story behind the Chinese Olympic swimmers. And many other Chinese brands created topics and trends on the internet related to the Tokyo 2020 Olympics, hoping to gain more attention from the Chinese netizens. For these Chinese brands, the Tokyo 2020 Olympics is an essential marketing spot within their plans. 

Anta produces kit for Chinese Olympic Team.

Image Source: PRNewsfoto / ANTA Group

Speaking of the business value these Chinese Olympic athletes hold, many wonder how these star athletes' business value will change in the long term. In the current society, it will be difficult for many star athletes to maintain this sudden growth in popularity in the long term, especially after retirement or the event's popularity fades away. However, with the development of the "fan economy" in China, many Chinese Olympic star athletes, like celebrities, have already established their own fan base. It is also very common in China to see these Chinese Olympic athletes in various TV shows, helping them to stay relevant and maintain their popularity. So, as the Tokyo 2020 Olympics comes to a close, it will be interesting to see how things turn out in the future.