Nike previously stopped selling on Amazon, hoping to boost sales in its own stores and a few select third-party marketplaces|Adam Fagen|CC BY-NC-SA 2.0
Nike is returning to Amazon US after pulling away from the e-commerce platform in 2019. The brand aims to revive its slipping sales amid competition from rivals like Adidas, New Balance and On.
The sneaker brand had stopped selling on Amazon, hoping to boost sales in its own stores and a few select third-party marketplaces. But it hasn’t worked out well. Global sales fell 9% last quarter, with a 17% dip in China.
Its shares are down 20% this year.
New CEO Elliott Hill is trying to reverse the slump through various ways, including raising prices on certain Nike apparel and shoes priced above $100 to up to $10.
Kids’ gear and popular items like Air Force 1s won’t see price hikes.
Nike is also dialing down the supply of classic sneakers to boost demand and is banking on its new Air Max line and a hyped collab with Kim Kardashian’s Skims to bring in the greenbacks.