A few weeks after announcing record fourth-quarter earnings in North America, Nike are introducing two new retail concepts in Boston.
last month, Nike Inc. reported fourth-quarter sales and revenues that exceeded analysts’ expectations, partly due to strong revenues in the influential North American market. Nike’s net profit for the quarter ended May 31 surged to $ 1.5 billion (93 cents per share), compared to a loss of $ 790 million (51 cents per share) in the year-ago quarter. did. Total revenue almost doubled from $ 6.31 billion in the previous year to $ 12.34 billion.
Nike continues to grow steadily, despite intensifying competition in the athletic and sportswear categories due to the ongoing dress-down trend brought about by the pandemic shutdown. In Nike’s largest market, North America, the brand boasts record sales of $ 5.38 billion compared to the previous year.
There are two new locations in the Boston area. A small format door on Chestnut Hill and an upcoming Watertown outlet store. This sneaker giant is adding digitally driven experiences, innovative devices, and a variety of services and products. Especially localized. This strategy is consistent with what Nike President and CEO John Donahoe announced last June. We have 150-200 small digital stores in North America, Europe, the Middle East and Africa. Year. According to the company, the plan includes creating more personal and localized consumer touchpoints to better serve consumers.
With stores in Chestnut Hill and Watertown, Nike has five mono-branded stores in the Boston area. The Nike App, Snkrs App, Nike Run Club, and Nike Training Club are other vehicles used by sneaker giants to connect with local shoppers and athletes.
Known for its avid sports enthusiasts and numerous colleges, Boston is the premier region for athletes.It’s also home to Nike’s rivals Reebok and New Balance. Both companies employ hundreds of people in the area, are focused on supporting local sporting events and communities, and have large home offices.
Nike by Chestnut Hill bowed on Thursday. The store for women offers services that facilitate online or in-store shopping through the Nike app. The 5,300-square-foot store has an assortment of apparel and shoes selected based on what is popular with women in the neighborhood. If you want to peruse yoga, bras, leggings and other products and pay special attention, we can arrange bra fitting and styling sessions.
Shoppers can also take advantage of online brand purchases, shop over-the-counter, and curb their experiences to speed up their purchases online or through company apps. There is also a free store pick-up for eligible orders.
Chestnut Hill shoppers can also use the unlock box, a digital vending machine where members can use their Nike App Pass to get free products and gifts. In another dash of the brand, the company stocked the machine with enamel pins featuring the store logo that was distributed on a first-come, first-served basis for the grand opening.
Nike is no exception, as many companies are looking for data collection and consumer interpersonal relationships. Shoppers can use Swoosh Text to contact Chestnut Hill employees to check inventory, request product advice on selected sports and lifestyles, and find out about the latest releases and services. I can. Engagement data, behavioral data, and attitude data are all mixed, as is the case with many global brands.
A Nike spokeswoman acknowledged the question of whether the ongoing labor shortage in the United States was a factor in accelerating small stores with a digital approach, but did not answer at the time of the press. She also didn’t mention how much of the digital-focused approach is driven by data collection for production, merchandising, and targeted marketing.
Boston is not the first big city to offer Nike specialty stores. Retail expansion is already seen in New York. Austin, Texas, Los Angeles.
Nike’s store concept includes House of Innovation locations in Shanghai, New York, and Paris, featuring the latest product innovations, athlete storytelling, and design.
On Saturday, Nike will announce Nike Unite Watertown, a 16,000-square-foot outlet store. The store has an in-store community wall that emphasizes design accents that reflect local partnerships and communities, such as local athletes and local landmarks. Shoppers have access to digital and self-service options through the Nike app and digitally-enabled service bar. Consumers can return or receive digital orders. The Watertown Store is an example of the Nike Unite concept.
