For some conventional Retail chains, flagship adjective is synonymous with point-of-sale that generates heavy losses. Efforts by some brands like the one Nike makes in this new flagship only have a good reason to be when there is a clear focus on omnichannel and core wholesale activity.
Located on NYC’s Fith Avenue and opened on November 2018 with more than 5,000 square meters of surface and six floors. Originally named as House of Innovation, follows the track of the first opening of this type of Nike store in the Asian continent, not randomly (Shanghai).
It contains within it different new concepts, some of them already tested individually:
- Nike Speed Shop
- Nike Sneaker Bar
- Nike Expert Studio
Nike, with a growth of +10% annual sales (with only +1% stock) and consolidating margins, materialises in this new flagship store its three principles:
+ Speed to market
+ DIRECT to client
Direct to client
“DIRECT” sales to customer already account for 1/3 of Nike’s total including own retail and ecommerce, the latter with year-on-year growth of 25%.
Platforms vs individual products
They are not based on merely releasing new individual products to market. Otherwise they make use of already proven platforms (e.g. Air Max) as a growth vehicle through new models designed much faster than the past.
Strong support and development of its app and omnichannel with new features such as:
- Click & Collect internal in store. Looks and individual items
- Scan & try
- Express Check out paying from mobile without going through the cash register
- Extreme customisation for some products
- Selection of the goods displayed based on online analytical criteria for the specific geographical area where it is located
- Members of Nike Plus community enjoy special perks and privileges such as personalised assistance, express shipping and increased product customisation possibilities
Mhe works for major chains and brands improving retail strategy and operations
For some conventional Retail chains, flagship adjective is synonymous with point-of-sale that generates heavy losses. Therefore efforts by some brands like the one Nike makes in this new flagship only have a good reason to be when there is a clear focus on omnichannel and core wholesale activity.
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