Retail

Nike Is Set to Upend the Sneaker Market

Image Credit: Alexander Rotker on Unsplash

Nike became a tech company last month when it announced the summer debut of Nike Fit, an app that will allow people to scan their feet to get their exact sneaker sizes. No more guesswork when ordering sneakers online from Nike, and obviously, the app works just fine for in-store purchases as well.

CivicScience asked more than 1,300 Americans 13 years and older if they thought they’d give Nike Fit a try, and 33% said they were likely to do so.

Taking the chart above into account, the chart below is notable, as Nike – along with New Balance – is the clear market leader among favorite sneaker brands in America. But the big takeaway is that 50% more Americans are willing to try Nike Fit than there are people who say Nike is their favorite brand. This clearly bodes well for Nike.

Obviously, those extra feet have to come from somewhere, and competing sneaker brands might want to light a fire under their R&D lab personnel. The chart below shows how likely people are to try Nike Fit crossed with their favorite sneaker brands.

It’s troubling news for Nike’s competitors.

At least 16% of everyone who has a favorite sneaker brand other than Nike is at least somewhat likely to give Nike Fit a whirl. Predictably, nearly 60% of Nike fans say they are “very” to “somewhat” likely to give it a try. But so are more than one in three Reebok fans, and more than one in four New Balance fans. Even 20% of Americans without a favorite sneaker brand – and this includes people who don’t wear sneakers at all – are going to see if Nike Fit is a fit for them.

As with most technological advances in the CivicScience database, the younger someone is, the more likely they are to try something new. Nearly twice as many Millennials say they might try Nike Fit compared to Americans over the age of 55. But it is notable that nearly 25% of Baby Boomers and older say they would scan their feet in an effort to get a better fitting sneaker.

Notably, Nike Fit crosses gender lines, as women are only slightly more likely than men to consider trying the app.

Also notable: For 40% of Americans, the shoe size struggle is real.

However, compared to the 33% of Americans who say they would try Nike Fit, only 39% of people who say they have trouble finding the right fit are at least “somewhat” likely to try the app. Clearly, if word spreads that the app is successful in getting sneakers to fit better, there would be massive room for growth in this segment of the market.

Nike has been a market leader in sneakers for decades, but this new app has the potential to make a serious change in American sneaker-buying habits. It also seemingly has the potential to give a few sleepless nights to competing sneaker brand CEOs.

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