Nike's Comeback Strategy

#nike #crypto #trump #bitcoin

Claim your Moomoo welcome rewards https://j.moomoo.com/01Iik6

Gate.io Crypto exchange, Web3, NFT, Defi
https://www.gate.io/ref/X1NDAVk?ref_type=102

OKX Crypto exchange and Wallet
https://okx.com/join/9458250

Bridget, enjoy the crypto trading joiner together.
https://bit.ly/3Bx99Mn

Check out https://linktr.ee/thecapmarkets for complete coverage along with all the latest financial news and data!

Strategic Missteps and Market Challenges
Nike's recent struggles can be attributed to a series of strategic missteps and market challenges that have eroded its competitive edge.
Neglecting Core Strengths
In its pursuit of digital transformation, Nike inadvertently neglected some of its core strengths. The company pulled back on developing its running business at a time when the sport was experiencing a surge in popularity during the pandemic. This retreat from a key market segment allowed competitors to gain ground.
Innovation Slowdown
Nike's reputation has long been built on innovation, but recent years have seen a noticeable slowdown in groundbreaking product releases. This lull in innovation has allowed emerging competitors like Hoka and On Running to capture market share, particularly in the running space.
Inventory Management Issues
As consumer spending patterns shifted and Nike's product offerings failed to resonate as strongly with buyers, the company found itself grappling with excess inventory. This oversupply led to discounting, which in turn diminished the brand's premium image and desirability.
Global Economic Factors
Nike also faced challenges in key markets, particularly China, where a slowdown in consumer spending impacted sales. While some of these issues can be attributed to macroeconomic factors, Nike's flat growth in North America was particularly concerning, especially when competitors like Adidas were showing growth.