Designer Trainers of the Year. Nike is the Official Hottest Brand
If you are a solemn fan of Nike, you will be pleased that this designer trainers and high-performance sport wear brand has been officially announced to be the hottest brand of the past three months.
According to the Lyst analysis of more than nine million shoppers, the brand’s revenue generated in the period of the last three months had not only beaten its own numbers vs last year but had also left the competitors far behind. So, yes, the statement of Nike designer trainers being the hottest thing is indeed official.
The report has shown that the digital sales of Nike have grown by 75% in the pandemic months, showing it’s a prime sample of the brand adapting to the new reality via optimizing its e-commerce efforts. With the physical stores closed, this growth of revenue has made 30% of the total revenue the sports giant generates. Even for a big brand that’s pretty impressive.
This is not surprising – many have turned their attention to luxury loungewear and designer trainers back in April when the global pandemic has first put us in the lockdown. This was the time that gave Nike a boost, increasing its sales for a total of 106%, all driven by people seeking for the comfy athleisure solutions and running shoes for independent exercising.
To add to the sales growth, Nike also played its cards right in terms of marketing. They became a powerful advocate of Black Lives Matter movement, additionally donating $40 million to various organizations fighting for social justice after the unlawful killing of George Floyd. For the sake of the anti-racism campaign, the brand has created a new video with a twist on their signature slogan, changing it to ‘Don’t Do It’ and reaping over 5 million likes on Instagram with it.
Why is this important? This is the first time other luxury sportwear giants such as Off-White have been taken over by more consumer-friendly designer trainers brand.
However, it is predicted that Nike’s astonishing revenue is going to flop. While the brand does great in terms of e-commerce, it is very likely to get affected by store closures, suspension of this year’s NBA season and supply disruptions. The numbers predict a loss of $5.5 billion in revenue. Will our favourite brand hold up?