Nike is being considered as the top pick in the consumer sector due to its foraying into selling directly to consumers on social media and e-commerce platforms.
With an increase in the number of millennials, the sports goods industry is radically transforming. Leading brands’ online growth will outshine retailers as they have the muscle power and are able to develop customization capabilities.
Nike also sealed a pilot deal with Amazon, wherein it will sell a limited number of products via Amazons’ website. It will also start selling its products directly to consumers on Instagram.
Selling products on Instagram is a trend which is fast catching up. Nike has the largest number of followers on Instagram as compared to its competitors. So, it can naturally leverage this to gain a significant advantage over its competitors.
Nike boasts of greater than 90% market share in basketball shoe market and nearly 75% of the basketball players are sponsored by the company. In relation to endorsements, Nike is far ahead of its main rivals.
