Nike, Inc is a multinational organization of America that focuses on designing, developing, and manufacturing footwear, equipment, apparel, accessories, and services. Nike is considered the largest supplier of athletic apparel and shoes all across the world. The company has its headquarters near Oregon, in the Portland metropolitan areas. It can be seen that Nike uses its brand name for marketing its products such as Nike Pro, Nike Golf, Air Max, Nike CR7, Nike Dunk, Nike skateboarding, and Foamposite. The subsidiaries of the brand are converse and Jordan. The Company has generated revenue of around US$ 37.40 billion in the fiscal year of 2020. The main competitors of Nike are Puma, Adidas, and Reebok. A close look at the structure of Nike reveals that its global market shares as of 2019 was at 27.4%. It can be seen that the global gross profit of the company amounted to US$ 16.24 billion which is less compared to the profit figure of 2019. The staggeringly high market share and revenue of the company are attributed to its range of successful products. In this article we have shed some light on the product of Nike.
Escalating Breakthrough Platforms
The product of Nike are built on the foundation of its innovation in cushioning platforms that help in constantly pushing for advancement in their athlete products line. As found from the SWOT analysis Nike, its products play a key attribute to its strength. It was seen in 2018, the company invented a trio that helped in the process of scaling their innovative platforms, which are as follows.
This product of Nike is made from a smooth, soft, and most resilient foam that helps in providing reliable cushioning, stride after stride. The aim behind innovating this foam is to reduce injuries during running or physical activities. The use of 24% Reacts foam in comparison to Nike Epic React FlyKnit 2 helps in providing more stability and a rocket shape for rolling a fluid foot strike. It was seen in a study of 226 women and men during a 12-week run training program that the use of Nike React Infinity Run has helped in reducing injuries by 52% in comparison to Nike Air Zoom Structure.
Nike ZoomX foam:
This foam is considered the best type of foam of Nike as it ensures that the runners can run fast and far. It also delivers 85% energy return to the runners as is called Magically Energetic Foam. This foam is used traditionally in aerospace innovation but has been applied in this product of Nike called Zoom Vaporfly Elite.
This technology or innovation comprises pressurized air that is kept under a flexible and tough bag which helps in providing spring and flexibility without affecting the structure. The sole that is used in this product of Nike helps in maintaining the form of the shoe with elasticity and lowering the impact on the foot. The air cushioning helps in improving the performance of the athletes by reducing the weight of the shoe. Nike Air helps in the process of delivering a comfortable feeling to the athlete along with protecting the environment. The air soles that are used comprise 50% recycled material, which is manufactured using 100% renewable energy.
Popular Product of Nike
Nike Zoom Pegasus Turbo:
The magic that was created by Nike’s Zoom Vaporfly 4% inspired in designing the new running shoe which is Nike Zoom Pegasus Turbo. This product of Nike is made of the same ZoomX foam in its midsole, which helped in creating the aerodynamic shape of the heel. Due to the absence of a carbon fiber plate, this shoe helps in offering the runners a comfortable kick during their training session. This product of Nike was available to the Nike Plus members from July 2019 in countries such as China, U.S, U.K, Germany, and Brazil.
According to Forbes, this product of Nike is labelled as the most versatile running shoes for women based on the review of the female runner who was interviewed for sharing her experiences. They stated that the upper part feels like a feather and the glove-like fitting helps in holding the foot without constriction or overheating the foot. The bouncy Zoom foam along with beveled heel helps them in pushing off and running faster.
Nike Air Zoom Pegasus 35 Flyease:
This product of Nike performs similarly due to the presence of similar elements such as in Nike Air Zoom Pegasus 35 but with an updated adaptive fit technology.Air Max 270:
This shoe offers the highest volume of heel displacement for maximizing the Air cushion comfort. It is seen that the Air Max sneakers such as the 270, the 720, and the 200 that were released in 2018 were the top-performing products of Nike. The product of Nike like the Air Max 270 React, VaporMax, and ZoomX have helped in bringing around $2billion in revenue since their introduction to the market in 2017.
It can be seen from the above graph that revenue generated from the sale of Air max in 2019 has been reduced by 40% in comparison to 2018. The orders and spending of customers per order also decreased by 37% and 4% respectively, causing the figures to fall from $138 to $132. However, there has been an increase in the proportion of new customers in 2020. It was seen that the Air Max Day shoppers in 2018 started using the online website of the company Nike.com for making purchases, which helped in raising the sales by 28%. The proportion further increased by 11% to 31% in 2019, as more customers were able to explore the site of the company.
According to Parker, the company enjoyed success by pairing its style with sports along with the collaboration between designer Virgil Abloh and tennis icon Serena Williams. The product of Nike are also the result of pairing Paris Saint-Germain F.C with Jordan Brand soccer kit and Chuck Taylor and One Star silhouettes with Converse’s limited-edition.
It can be seen that ease of use and refining fit is important for enhancing the performance level of the organization. The process of continuous growth of the two technologies such as the FastFit tightening system of Nike has helped in allowing the athletes in achieving 360-degree lockdown which can be opened with a single pull of a forefoot strap. The Nike Flyease has a closure system that helps in connecting a loop and a hook strap to a zipper to ensure that runners can take off or put the shoe in one fluid motion. This product of Nike also helps the athletes to dial in a preferred fit enhancing their performance level. It can be seen that the visible technologies in the product of Nike are considered for function along with opening the door for outstanding new treatments.
Air Jordan XXXIII:
Jordan is the first basketball shoe that is lace-less which is innovated by progressing the legacy of the visible technology. It also helps in inspiring different aesthetic standards along with proposing a new system for restraint on the court. This product of Nike was designed and manufactured from Ultra High Molecular Weight Polyethylene which gets activated by pulling the tab on the XXXIII’s tongue. The cables that are used by Nike in this particular product are similar to those used in the parachutes. This innovative design of the Air Jordan XXXIII helped in the process of surprising the customers. It will also be a change in the direction of Jordan which has been in the brand for the last 30 years. The Air Jordan XXXIII was launched in October 2018 in the U.S for $175 and $185 in China.
It can be concluded that the consistent process of innovation along with technological advancement has helped Nike in bringing innovative products into the market and achieve Nike’s purpose. This has also helped the brand in becoming the world's largest supplier of athlete shoes.
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