Nike SWOT & PESTLE Analysis
ID : 5286353| Jan 2022| 15 pages
COMPANY PROFILE -Nike
Business Sector :Sports Goods
Operating Geography :North America, United States, Global
About Nike :
Nike, Inc. is an American multinational corporation that was founded in the year 1964 as blue ribbon sports by Bill Bowerman and Phil Knight, went on to become the world’s largest manufacturer of sport shoes, apparels and accessories. It is headquartered in Washington County, Oregon, U.S and the retail stores are named as Niketown. Nike's core business model is the design, development, production, and global marketing and sales of footwear, apparel, equipment, accessories, and services. Nike is the largest seller of athletic footwear and apparel in the world. NIKE Brand offers its products mainly in six categories viz., Running, NIKE Basketball, the Jordan Brand, Football (Soccer), Training and Sportswear. The company sells its goods through NIKE-owned retail stores and digital platforms. The company also markets products designed for recreational uses such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities. Nike's key success factors are its impeccable efforts in research, design, technical innovation, and development. As of early 2022, the company has 73,300 employees worldwide.Nike Inc.’s mission statement on its official website reads “Our mission is what drives us to do everything possible to expand human potential. We do that by creating groundbreaking sport innovations, by making our products more sustainably, by building a creative and diverse global team and by making a positive impact in communities where we live and work.” The Company strives “To bring inspiration and innovation to every athlete in the world.”
Nike's unique selling proposition or USP lies in being the world's largest manufacturer and seller of athletic shoes and apparels. It is also one of the most renowned and valuable companies with its brand valued approximately 30.44 billion U.S. dollars in 2021. NIKE, Inc. includes the Nike, Converse, Hurley, and Jordan brands.
Nike Revenue :
$44,538 million – FY ending 31st May 2021
$37,407 million – FY ending 31st May 2020
Competitive Analysis of Nike
SWOT
PESTLE
Titled after the Greek goddess of victory, Nike's foremost purpose is to provide athletes with outstanding commodities that boost their sports performance. Nike is the largest sports footwear, apparels, and equipment company in the world which endeavors to design products that help to improve athletic performance, lessen injury and maximize comfort. Following is the analysis of all the pertinent internal and external strategic factors of Nike that contribute to the trajectory growth of the company. The SWOT Analysis of Nike Inc. illustrates the company's key strengths and opportunities from its external environment that can be consolidated to further strengthen the company. The report also manifests intelligence on Nike's internal weaknesses and external threats that can cripple its growth.
World's No.1 and largest shoemaker, innovative and diversified product portfolio, strong core and side brands, loyal and large customer base, global presence, strong R&D and technical innovations, low manufacturing cost, influencing marketing strategies, etc., are just a handful of the several strengths of Nike.
These factors also serve as core competencies to Nike and lend it a competitive advantage. Despite all the quintessential strengths of Nike, the company faces trouble from some of its inherent weakness. Nike has always been targeted for labor issues like child labor, low wages, in-equal pay on a gender basis, toxic work environment, sexual harassment, etc. These internal weaknesses have damaged the brand reputation. Though Nike's merchandises are mainly designed for an athletic use a considerable percentage of the products are worn for informal or leisure purposes. This grants the company a great opportunity to target audiences who utilize Nike's products not only for sports purpose but also as a fashion trend. The athletic footwear, apparel, and equipment industry, as a whole, is extremely competitive on a worldwide basis; therefore, Nike faces stringent competition threat from its top rivals like Adidas, Under Armour, Puma, etc. Another major threat Nike encounters from the counterfeit products that extensively affect the revenue and reliability of the brand.
The SWOT analysis for Nike is presented below in a nutshell followed by the detailed analysis:
World's No.1 and largest shoemaker, innovative and diversified product portfolio, strong core and side brands, loyal and large customer base, global presence, strong R&D and technical innovations, low manufacturing cost, influencing marketing strategies, etc., are just a handful of the several strengths of Nike.
These factors also serve as core competencies to Nike and lend it a competitive advantage. Despite all the quintessential strengths of Nike, the company faces trouble from some of its inherent weakness. Nike has always been targeted for labor issues like child labor, low wages, in-equal pay on a gender basis, toxic work environment, sexual harassment, etc. These internal weaknesses have damaged the brand reputation. Though Nike's merchandises are mainly designed for an athletic use a considerable percentage of the products are worn for informal or leisure purposes. This grants the company a great opportunity to target audiences who utilize Nike's products not only for sports purpose but also as a fashion trend. The athletic footwear, apparel, and equipment industry, as a whole, is extremely competitive on a worldwide basis; therefore, Nike faces stringent competition threat from its top rivals like Adidas, Under Armour, Puma, etc. Another major threat Nike encounters from the counterfeit products that extensively affect the revenue and reliability of the brand.
The SWOT analysis for Nike is presented below in a nutshell followed by the detailed analysis:
| 1. Strong international presence 2. Follows a “Make to stock” model focusing on fast track availability of product for customers from available stocks 3. Highly innovative products and strong research and development base 4. Follows a “ Low cost high quality” 5. Recognized three times as “top 100 companies to work for” 6. Branding product through top athletes of the world. 7. Increase learnings and speed of developing innovative products through NSRL 8. Relentlessly focusing on recycling material and increasing sustainability | 1. Price sensitivity of the retail market 2. Issues with wholesale distribution channel 3. SNKRS app pushing away customers |
| 1. Rise in Health and Fitness Trend 2. Growth Opportunities in Asia 3. E-commerce to be a major growth driver 4. Expansion scope as a fashion brand and other products 5. Digital initiative to push deeper connection 6. Partnership with D Sports and Pokemon Go’s maker Niantic will increase customer base | 1. Highly dependent on sports segment 2. Intense competition from global top players impacting profit margins 3. Foreign exchange and market risk 4. Inventory availability issues due to lockdowns in Vietnam and Indonesia |
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Detailed SWOT Analysis of Nike
Strength
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Weakness
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Opportunity
1. Rise in health and fitness trend: As health trends increase all over the world, a huge new market is opening up for sports apparel and footwear. From yoga moms to athletes, everyone is trying to keep fit. According to the Global Industry Analyst, global sports and fitness clothing market is expected to reach $221.3 billion by 2026. Prospects for growth are stronger, as sports participation for youths and health and fitness trends for adults and are going global.
2. Growth opportunities in Asia: Markets in Latin America and Asia, where athletic-wear penetration is low compared to the US, have room to grow and could deliver high gains. China will be a key market to monitor. The Chinese government emphasized support for youth athletic participation, development of sports infrastructure and business. It plans to build 60% more sports facilities by 2025 and encourage 500 million citizens to exercise and play sports regularly. The government wants to integrate soccer or football into school curriculums to develop talent. Sports pastimes, like hiking and skiing, which were unheard of a generation earlier, have become common and easily accessible. Consumers who enjoy such activities, usually have the means to buy the gear and clothes that go with them.
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Threat
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Major Competitors :
- Adidas
- Under Armour
- Puma
- Fila
Major Brands :
- Nike
- Air Jordan
- Converse
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SWOT & PESTLE (combined)
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WHY BUY THIS REPORT?
TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
1. The SWOT and PESTEL analysis report of Nike Inc. presents the complex internal and external factors affecting Nike's brand, its operations, business model, market strategy and growth trajectory.
2. The SWOT analysis evaluates the strengths and opportunities that Nike holds and how it strategizes itself to succeed its weaknesses and threats in its operating external environment
3. The report confers intelligence on the external analysis, comprising the opportunities - low hanging fruits which can be harvested to achieve further growth and expansion and some pertinent threats that threaten to hinder the growth of the company
4. The Report covers compelling initiatives that were taken by Nike, to stay ahead of its competitors and adversaries and attain a competitive edge in the industry.
5. The PESTLE analysis of the Sports Apparel and Accessories Industry helps to distinguish the factors that compel and restrain the retail market.
6. The PESTLE/ PESTEL/ STEEPL Analysis for in-depth analysis of all external factors specifically, political, economic, social, technological, legal and environmental, highlighting their consequence on Nike's business model, marketing and growth strategy
7. Abstract information on Nike's business diversification, deriving its key business segments and highlighting its major competitors
8. A concise window into of Nike’s headquarters, turnover, revenue, and subsidiaries. This is followed by a comprehensive company analysis to obtain perspicacity into company information, company profile, business model, business plans and marketing strategy
9. Analysis of Nike's market position, mergers and acquisitions, strategic partnerships and alliances, that the company endorsed, and the business aims or synergies that were achieved with them
10. Interpretation of Nikes USP or unique selling proposition, mission statement, and vision statement. With a peek into Nike's key success factors, performance indicators, core values, value propositions, and core competencies.
11. Discussion on Nike's business model, extending to the analysis of key business segments and business case study
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References used in Nike SWOT & PESTLE Analysis Report
1. Nike Form 10-K 2021 - https://s1.q4cdn.com/806093406/files/doc_downloads/2021/08/Nike10k2021.pdf
2. How Nike Is Building On Diversity and Inclusion to Advance Sustainability - Nike News - https://news.nike.com/news/how-nike-is-building-on-diversity-and-inclusion-to-advance-sustainability
3. Olson Kundig designs LeBron James Innovation Center for Nike | Wallpaper - https://www.wallpaper.com/architecture/nike-headquarters-lebron-james-innovation-center-olson-kundig-usa
4. Nike fears customers will move ‘towards New Balance’ amid SNKRS issues – MarketWatch - https://www.marketwatch.com/story/nike-fears-movement-toward-new-balance-and-smaller-independent-brands-report-11634156107
5. How Nike’s Big Digital Push Is Shaping Its Future | The Motley Fool - https://www.fool.com/investing/2021/10/23/how-nikes-big-digital-push-is-shaping-its-future/
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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Nike SWOT and PESTLE analysis has been conducted by Supreet Panigrahy and reviewed by senior analysts from Barakaat Consulting.
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Nike SWOT & PESTLE Analysis
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