The COVID-19 outbreak was a tough one for retail in general, and the fashion industry in particular. The dire financial situation which many consumers were confronted with almost overnight resulted in a slump in demand for most products beyond everyday essentials. In addition, lockdowns forced retailers worldwide to close down their stationary stores for weeks or even months.
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
Practicology assessed 100 consumer brands who sell online directly to customers and identified the best practice. These brands compete against other retailers and marketplaces for online customers. In Practicology’s report, how brands compete against marketplaces as well as omnichannel retailers, and from this, become more advanced in selling directly to the end consumer, are