The Olympics is the world’s leading international sports competition. It includes a series of sports and games in which participants come from all around the globe. However, it is not any random competition; it is a business. This competition has become highly commercialised over the years.
Rossana Garcia is the Associate Professor of Marketing in the College of Business Administration at Northeastern University. Garcia had attended the 2012 London Summer Olympics. She shared her experience of attending the Summer Olympics since 1984. She said that the spirit and experience have changed over the decades.
They have now become commercialised. There are many corporate sponsors too. In the 2012 London Olympics, Proctor & Gamble was a major sponsor. It had a facility to pamper the families of the athletes – Thank you, Mom. This is a new twist to the marketing scheme.
The Olympics these days are also supporting notions of women empowerment. It also supports sustainability and family values in the spirit of athleticism. The London Olympics committee promoted the 2012 Olympics as being zero waste. This was a push for sustainability. Many new trends have evolved in terms of corporate sponsorship. Sponsors also influence the games’ merchandise.
The attendance has also increased with time. Around six million people attended the London Olympics. Garcia also said that the tickets were unavailable. However, there were many empty seats too. She said that scalping was seen too. Individuals sold the tickets to each other in the streets. Like, if somebody’s favoured country did not make it to the finals, then the tickets would be resold to others. However, this black marketing is no more existing. The officials have decreased the supply.
Ever since the Olympics have begun, many new games have been added. Garcia says that if the game spirit is considered, then the resale market should exist. More people will attend when more tickets are sold. The stadiums would be full. It would deliver a good Olympic experience. Thus, the International Olympic Committee (IOC) should look into this. This would ensure both marketing and better economic gain.
Due to the pandemic, the 2020 Summer Olympics have been postponed. It is a loss for all sports lovers.