Nike falls to the altar, the good day of sports ocean brand is gone forever

Edit | Yu Bin

Produced | Chaoqi.com "Yu See Column"

For some time, news about Nike has always revealed a "sad" taste.

Not long ago, the Nike Run Club APP will stop operating in China. The recent decline in stock prices and the latest financial reports show that its performance in the Chinese market has continued to decline. Buy Nike's order.

As the "vane" of global sports brands, what happened to Nike? Why does its status in the hearts of young people fall thousands of feet, so that in the Chinese sports consumer market in recent years, we can't feel the presence of Nike?

Nike, leading sports ocean brand "ebb"

At the end of last month, Nike announced its fourth quarter and annual financial report as of the fourth and fiscal year as of May this year. According to financial report information, Nike's overall performance was not too bad. In fiscal 2022, Nike achieved a total of $ 46.7 billion in revenue, an increase of 5%compared with the same period last year.

However, why the stock price of Nike fell 7%within a day when the financial report was announced, the market value evaporated by more than 80 billion yuan instantly, and even the stock price recorded in the past two years?

The problem lies with the performance of the Nike China market.

In the fourth quarter of fiscal 2022, the total revenue achieved by Nike China was only 1.561 billion US dollars, a significant decline of 19%compared with the same period last year; The decline also reached 9%.

It is worth noting that this is the third consecutive quarter of Nike in the Greater China market. In the first two financial quarters, Nike's revenue in Greater China decreased by 20%and 5.2%year -on -year. Such a performance obviously could not make all parties satisfied.

So, how do we think of Nike's overall performance in the market and brand layout level in the Chinese market?

From a deeper level, this may fit the general trend of the rise of the "national tide" in the domestic consumer market in recent years, because in recent years, Nike is not the only foreign brand giant that has encountered "sinking" in the Chinese market.

For example, Adidas, who is "difficult brothers and brothers" with it, has also encountered a sharp decline in sales in the domestic market in recent times. The person in charge of the Chinese district was replaced.

However, Nike can be regarded as the most representative one in the "ebb" process of sports foreign brands. It has a strong indicator significance in the altar of the falling altar in the domestic market. This reveals that foreign brand giants represented by Nike are in China The localization level is gradually losing consumers' hearts. They must attach enough attention and change their strategies to better please domestic consumers.

Otherwise, their fall in the domestic market may be just the beginning.

In stark contrast to the formation, Chinese local sports brands are increasingly showing a strong influence.

Anta, Li Ning, Hongxing Erk ... In the context of "National Tide" at that time, the wave of "wild consumption" became the main theme of the Chinese sports consumer market, coupled with various domestic sports brands in innovative actions in product quality, product characteristics, and marketing models. Their limelight covers Nike, Adidas, etc. not only has nothing weird, but gradually makes people feel logical.

This is obviously not good news for international sports giants like Nike. As the world's second largest sports clothing market, China is a must -fight market for all sports brands in terms of scale and development growth. Put your future in your hands.

"Do you need to be hard to hit the iron," Nike's advantage is losing

In the past, when everyone mentioned Nike, in addition to the "superiority" that it brought to consumers at the international cultural level, the high fashion, high -quality, and high -level service under the expensive value is the core. At that time, it did deserve the reputation of the world's largest sports brand.

However, in recent years, Nike has unchanged in the domestic market. It can be compared to the domestic competitors that are struggling to catch up with, but its advantages in design, quality, and service are almost exhausted. Because of this, domestic consumers are no longer buying products and services provided by Nike.

To be simpler, "the iron needs to be hard to hit the iron." When your advantages in the industry are gradually lost, it shows that consumers have formed a certain influence on it.

From the current consumer's evaluation of Nike products, we can directly feel this.

Just search for Nike's brand e -commerce page, and we can easily find a lot of bad reviews about Nike products. Among them, the difference in poor reviews about the poor quality of the product is not uncommon. "False color loss", "rough workmanship", "obvious glue of the upper", "not smooth", "low cost performance" ... All kinds of evaluations are obviously inconsistent with the pricing of Nike's products.

A noteworthy phenomenon is that although the price of Nike products is not low compared to similar domestic products, it is a popular sports brand rather than luxury brand after all. In the case, how can Chinese consumers believe it?

What's more, today, when domestic goods are self -reliance, we are glad to see a large number of domestic products brand launched a product that is affordable, quality and design and does not lose to Nike.At the same time, with the rising influence of Chinese sports brands globally, many people's prejudices on domestic sports brands are also eliminated.In this context, Nike's "base camp" in the "base camp" of Chinese goods is almost inevitable.

The "good day" of the sports ocean brand is gone, but we will not want to nostalgic for their past good times.

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