How Nike Survived The Crisis
How Nike Survived The Crisis?
While many businesses struggle with retail sales drop during the pandemic...
One Company remained strong; Nike with a retail sales increase of 5% in this 2020 third quarter. The company deployed a playbook strategy to tackle the crisis.
After news of the COVID-19 virus spread, retailers would have to close their doors in China, Nike's first step was to make a pivot-turn into their own digital channels by helping Chinese user's stay active while staying home.
Weekly active user increase +80%
The strong engagement between the brand & the consumers resulted in more visits to Nike's online shops. Digital sales went up by 30% in China, according to Nike's third-quarter fiscal report.
PLAY INSIDE, PLAY FOR THE WORLD
The brand was able to launch a new marketing campaign called 'Play Inside,' encouraging app download. Here's what the Nike Training Club app plan:
The playbook Strategy
Physical stores close, adapting to changes.
Stores Gradually reopen. Stay aware Of new opportunities.
Foot traffic Increases. Everything blends back together.
Business is back to normal & in position for growth.
Preparation was a big part of Nike's strategy to overcome the virus crisis. Building strong relationships with consumers & engaging with them through digital channels such as apps, e-commerce stores & social media platforms is mandatory.
The world is changing & those who adapt quickly will survive afterward.