In an effort to regain the market share lost to newer and trendier rivals, the company will also be making its return on Amazon, as per the report
As part of its business evaluation and seasonal planning, Nike, a footwear retailer, is planning to increase the prices of a few products from next week, as per a report by Reuters. The company is also set to make its return on Amazon after over a decade.
The company will be raising the prices on apparel and equipment for adults between USD two and USD 10, as per the report, which added that those priced between USD 100 and USD 150 will be seeing a hike of USD five.
Nike will not be raising the prices for children’s products as the critical back-to-school shopping season is approaching. The report noted that the company sources a significant portion of its footwear from Vietnam and China.
While products costing less than USD 100 will not see any increase, shoes costing more than USD 150 will see their prices rise by upto USD 10. The report noted that Nike’s Air Force 1 shoes, costing USD 155, will not see a price rise.
In an effort to regain the market share lost to newer and trendier rivals, the company will be making its return on Amazon, as per the report. Currently, the company’s products are being sold by independent merchants. In 2019, Nike directed its focus to sales on its own websites and in stores, and decided to move away from the ecommerce platform, the report added
