Nike raises prices on its products and returns to Amazon after a six-year hiatus
American sports brand Nike will raise prices on some of its products starting next week and return to direct sales on the Amazon platform for the first time in six years, Reuters reports.
Nike plans to raise prices on adult apparel and sports equipment by an average of $2–10.
Goods priced between $100 and $150 will increase in price by $5, and products priced above $150 will increase in price by up to $10. However, goods priced below $100 will not change in price.
The company also decided not to increase prices for children's products, taking into account preparations for the school season.
One of the most popular sneakers, the Air Force 1, which costs $155, was also not included in the list of products whose prices will be increased.
The company explained that the price revision is part of the seasonal planning that Nike conducts regularly.
At the same time, Nike announced a return to direct sales on Amazon. In 2019, the company stopped cooperating with the platform, focusing on developing its own online channels and physical stores.
Now, looking to strengthen its position in the market and win back share from younger and more trendy competitors, the brand is returning to Amazon. Currently, Nike is sold on the platform only through third-party sellers.
According to a statement from Amazon, some of them will be restricted from selling the brand's products starting July 19 as Nike resumes direct deliveries. The company promised to give these sellers enough time to sell out remaining inventory.
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- In January, it became known that Adidas returned to profit after its first loss in 30 years.
