Nike, under CEO Elliott Hill's leadership, is making a retail comeback by significantly reducing the level of discounts it offers, transitioning to a more premium pricing strategy. Hill, who returned to Nike in October 2024 after a leave, believes that heavy discounting has hurt the brand's image and margins. The company plans to shift focus back to essential athletic categories, including running and basketball, and re-establish relationships with wholesale partners. By emphasizing full-price sales over promotions, Nike aims to elevate the shopping experience and restore its former retail strength.
Nike's new strategy aims to reduce discounts, focusing instead on full-price sales to enhance customer experience and restore the brand's market position.
CEO Elliott Hill emphasized that discounting harms margin and brand value, signaling a shift towards premium pricing and a more selective promotional strategy.
With a commitment to its heritage in athletic wear, Nike will concentrate on running, basketball, training, football, and sportswear categories for future growth.
Nike sees the transition from a 50-50 split of discounted to full-price items as essential for revitalizing the brand and improving wholesale relationships.
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