After a five-year absence, Nike is re-entering the Amazon marketplace as it seeks to reverse a decline in sales. The company previously withdrew from the platform in 2019 to focus on its own website and select retailers, but recent sales drops, including a significant decline in China, have prompted a reevaluation of its strategy. As part of this shift, Nike is not only returning to Amazon but also raising prices on certain products while exploring new retail partnerships to enhance consumer experience—especially targeted to Gen Z shoppers.
Nike is investing in our marketplace to ensure we're offering the right products, best services and tailored experiences to consumers wherever and however they choose to shop.
Nike's price hikes, meanwhile, will kick in on June 1...we regularly evaluate our business and make pricing adjustments as part of our seasonal planning.
Various pieces of Nike apparel and equipment will increase in price by as much as $10...shoes priced between $100 and $150 will get a $5 increase.
The company's global sales dropped 9% last quarter, including a 17% drop in China...Nike is now searching for new avenues of growth.
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