Open Report:Bespoke – NKE Thesis Flags
Key Takeaways:
- Sneaker Purchasing is Shifting Direct, Driven by Millennials and Nike/Jordan
- Footwear Purchasing is Shifting Online
- Nike Customers Are Among The Most Loyal
- Nike and Under Armour Flagged As “Up and Coming Brands” Generating Excitement
- Athleisure’s Upswing / Usage For Casual Wear is Being Driven By Millennials
- Nike and Under Armour Viewed As Having Better Athletic Performance Than Competitors
- Sentiment Toward Nike in China is Very Positive
A Few Other Thoughts:
- The tailwinds we are observing in our surveys re footwear and Nike are largely being driven by millennials (buying direct, buying online, wearing athletic clothing for casual wear, buying more pairs of footwear per year, etc).
- We will get updates from consumers shortly with the new coronavirus world backdrop. While footwear purchases will likely slow during “social distancing and quarantining” – it wouldn’t be surprising to see some degree of increased adoption of online and direct purchasing among older cohorts for footwear. With more people stuck at home, you would also imagine that they would be increasing usage of casual/athletic clothing.
- UA tested well in our surveys both for a) sentiment toward athletic performance and b) call-outs by consumers of “up and coming footwear brands” they are excited about.
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