Thursday, June 29, 2017

Will Other Brands Follow Suit?

Nike To Start Selling Shoes On Amazon And This Will Have Major Reverberations 

The agreement will have Nike provide product directly to Amazon and in return Amazon will police and prohibit counterfeit and third-party sales of Nike products. Amazon has been gearing up for this significant partnership by cracking down on counterfeit product and the proliferation of unauthorized third-party sales on the site already. Amazon already began notifying third-party sellers that they have until July 13 to stop selling certain Nike products.

What’s not known is what Nike products will be available on Amazon. Zappos, which is owned by Amazon, doesn’t sell premium Nike brands such Jordan, Air Max or Nike signature basketball products. Experts believe that premium Nike products will not be offered on Amazon, to give other retailers that Nike has a relationship to survive. Sports apparel retailers such as Dicks Sporting Goods, Footlocker, Finish Line, Hibbett Sports all saw their stocks drop on Thursday.
 
Nike is enchanted by Amazon more than ever since sales in North America have been stagnate, and this month they were forced to cut 1,400 jobs, or about 2 percent of its workforce. Plus traffic to brick-and-morter retail locations are on declining at a worrying pace.

(BroBible.com)

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