Millennial shoppers are one of Nike’s largest and most important group of customers. In fact, the American brand is betting its future on the shopping habits of this crucial and dynamic group. The maker of some of the most iconic apparels and footwear for athletes will outperform other players in the industry in the next five years. Over the years, the brand has relied on specific factors to emerge the most dominant player in the industry.
What will make it the most talked-about brand by athletes?
Products that Enhance Health and Wellness
For a long time, Nike has marketed its products as the best for a person who believes in the importance of good health and wellness. Most of its modern products are geared for millennials, whose love for health and wellness knows no bounds. In fact, research shows that the number of millennials who participate in running activities/events has been increasing by 9% each year since 2005.
You can bet that Nike is the first name they think when buying footwear and apparel.
Increased competition = Better products
Nike has never been afraid of competition. In fact, it uses competition to motivate itself to produce better and more improved products. A few of the brand’s most famous competitors include Lululemon, Adidas, New Balance, and UnderArmour. The intense competition has pushed these brands to make the sort of apparel and footwear that customers can’t resist. Nike recently launched the wildly successful Flyknit.
Through Flyknit, Nike intends to outperform and stay ahead of the competition.
Nike Prioritizes Comfort
One thing all athletes who use Nike products love about the brand’s apparel and footwear is comfort. The brand has always put a premium on comfort. Its products guarantee the casual comfort athletes need when training or competing actively. Latest results show that more consumers are opting for the brand’s casual wear over denim. In fact, the apparel maker has already started making plans to offer wide-ranging assortments.
Internationalization of Athletic Apparel
Everywhere you look, you will notice the internationalization of athletic apparel. Middle class is rising in Latin America and China. Consequently, that causes an increased demand for athletic apparel. The potential in these new markets remains unrealized, which is good news for Nike. The brand has never shied off from sinking its teeth into new, emerging markets and that will not change any time soon.
A growing middle class around the world means more people have better purchasing power.
You can bet that Nike will continue being the dominant player it has been in the next few years.