Footwear brand Nike sees a sharp increase in its online sales during this financial quarter. The online sales grew 36%. This means that online now accounts for 20% of all sales of the brand.
Overall revenue increased by 5.1%, to $10.10 billion. Nike has yet to feel the full impact of the COVID-19 virus on its sales, which might influence future numbers. The brand is especially positive on its online sales, as it reaches holiday peak levels, reports Digitalcommerce360.
Nike currently focuses on a digital campaign, as the brand aims to remain online available to its consumers. A driving force of the 36% digital growth is the Nike app. This app grew its revenue close to triple digits in this quarter. Strong monthly engagement and member acquisition are the fuel for this growth. In-app sales grew more than 60% in this quarter.
The footwear brand concentrates on its online-to-offline journey. It aims to create a frictionless experience for consumers all throughout the world.
As this financial's quarter has come to a close, it does not take into account the various measurements governments have taken due to the corona-virus outbreak. It is yet unclear how this will affect Nike. The company aims not only to focus on the current management of this situation but also to emerge from it stronger than before. In China, currently, about 75% of all stores have reopened. Based on multiple analysis, the brand expects sales to be flat in the coming quarter and then return to growth afterwards.
Providing expected growth figures is hard, which is why Nike does not opt to do this at the moment. There are too many uncertainties to take into account.
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