Nike sales to go online, permanently
Soon there will be no more walking into a Nike store to buy your favourite sportswear. The US company will be moving its sales online, permanently.
Nike decided that this was the way to go after seeing the surge in its online sales since the coronavirus pandemic.
Digital sales skyrocketed 82 per cent during the June to August quarter, offsetting falling revenue in its stores.
For its previous quarter revenues were down by more than a third as it tackled store closures and lockdowns globally.
Nike chief executive John Donahoe said the shift to online sales could be a permanent trend.
“We know that digital is the new normal. The consumer today is digitally grounded and simply will not revert back,” Donahoe said.
Additionally, Nike sales are growing in its major markets including China, Japan, South Korea and the UK, while its core North American market is declining.
