Nike's Market Position and Challenges

Nike remains the leading athletic brand with over $50 billion in sales but has faced significant competition from brands like Hoka and Adidas in recent years. This decline in market share is attributed to Nike's strategic withdrawal from wholesale retail channels, which limited brand visibility in stores like Foot Locker and Macy's. The decision to prioritize direct-to-consumer sales and focus more on digital platforms led to a reduced emphasis on product variety and performance, causing some customers to turn to competitors. To regain lost ground, Nike needs to return to its core focus on product innovation and performance, which has historically been a hallmark of the brand.