How Nike Ran Into Trouble

Nike is now worth $100 billion less than it was during the last Summer Olympic Games.The brand’s decision during the pandemic to cut ties with brick-and-mortar retailers in favor of its own stores and website played a part in its decline in value, but so did the rise of competitors like ON, Asics and Hoka. It’s one of the reasons that this year’s Paris Games are exceptionally important for the world’s largest sportswear retailer.

00:00 Introduction
1:07 Nike’s success
1:47 Cutting ties with wholesalers
3:24 Rivals take the stage
4:18 Sluggish innovation
5:32 Nike’s plan to save itself

#Nike #Business #News
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[jamesdellaneve]

I stopped buying their stuff a decade ago. I don’t like their values.

[projoebiochem]

You left out that NIKE got political and alienated half of the audience base. Whether you agree with their political stance or not, it did cut their customer pool.

[Dangic]

Another big problem is that every time Nike releases a retro shoe, the quality of the shoe is completely different from the original.
The build of the original is 90% better quality than the re-releases.

[deezynar]

I have refused to buy their products for over 30 years. The world would be better off if they went out of business.

[ropro]

From a customer's perspective, the problem is that their product quality is in the toilet now. I used to love Nike running shoes and happily shelled out over $100 for a pair but these days, they barely last me a year before falling apart. 😒 Much like Boeing, feels like the bean counters are running the ship.

[sweeseen]

Nike is becoming the Boeing in shoe industry. Cutting cost, quality dropping and yet price up the product. Bye, going for Adidas.

[I_like_YT_lots]

What the upper management didn't know, their customers need to try on the shoes. They were blinded by sneakerheads where a lot of the time, the shoes aren't being worn.

[nguyen_van_a]

Basically, any big shoe brand: "Please buy our $250 shoes so that $50 goes to Ronaldo and Messi, and 50 cents goes to the workers". I feel ashamed buying from them.

[sidybidy]

When Jordans are sitting on shelves, you know Nike is in trouble.

[vashonm]

They got too greedy with cutting 3rd party sellers

[evanortiz]

It’s their quality. No one is gonna buy a 100+ dollar shoe that is gonna break on you in three months. They have cut so many corners, that they have burned their fans, and now they are going to look elsewhere.

[Your_President_Kanye_East]

Nike's quality sucks. I had gym clothes and shoes from Adidas and New Balance, which I used for 5 years or so before I had to throw them away. Nike's product start falling apart literally after weeks. I don't know how they're still on the market considering the abysmal quality.

[overman]

A lot of companies are living off their name, but they're completely different companies to what they once were. I prefer to find smaller companies that offer great quality at a fair price. I'll even pay more for better quality, but I won't pay more just for a brand.

[Gronvit]

I dont know if it is a big issue for Nike. But I live in Sweden and here adidas, asics and HOKA is on every peoples feet. And when Im in the store and talk to people in general about Nike they all say the same thing " Nike is to narrow and there is no room in the toebox".
I guess they loosing a lot of customers just for that simple reason. Im one of them

[katariagaurav]

Yawn, Nike is boring! They sold you a product for far more than what a shoe should cost, to be able to pay sportstar fees to market their products! They have fooled generations.

[gablan]

I bought myself Nike running shoes for around 80$, at the same time I bought running shoes from Decathlon for 10$. They looked alike - both in style and color. Difference was only in price.

Needless to say, the Decathlon ones lasted much longer.

[Ilovecruise]

Nike’s product quality has gone down quite a lot since they moved out of china, the quality right now are more like 5 dollars product instead of something that are selling for 100-200 dollars. It’s simply overpriced and bad quality

[lempickavb]

While lurking on youtube I was just telling myself I don't like the messages Nike is pushing through their ads these days. Glorifying selfishness & cruelty through them while much more positive messages can be drawn from sport. So even just for that reason I'm disappointed in them.

[mattkop]

problem is if you do outdoors activities they break in a month

[MrBobbyBrown]

Prices are up, quality is down. During a recession and weak economy, people are putting their money towards other things. Simple as that.