Nike sees boost to online sales
Sporting goods producer Nike has reported a significant growth in digital sales, despite stores reopening following earlier lockdowns. The US-based company experienced an 82 per cent increase in revenue between June and August, compared to its previous quarter figures which were depressed by more than one-third due to the effects of the COVID-19 pandemic. This welcomed boost helped to offset the lower-than-normal revenue from its bricks-and-mortar stores.
According to Nike chief executive John Donahoe, the move to online sales may actually be a permanent trend, adding that digital is the ‘new normal’, and that today’s consumer is a ‘digitally grounded’ person who simply ‘will not revert back’.
Although Nike’s core North American market is currently declining, sales are said to be growing in some of the company’s other major markets, including China, Japan, South Korea and the UK.
This article was originally published on page 2 of the November 2020 issue of SATRA Bulletin.