// Nike books 82% rise in online sales in Q1, offsetting falling in-store revenue due to the pandemic
// Overall first quarter revenue came in at $10.6bn (£8.3bn)
Nike has enjoyed a significant rise in online sales as its direct-to-consumer strategy came to fruition during lockdown and allowed it to bounce back from a coronavirus slump.
The sportswear giant saw digital sales surge by 82 per cent in the three-month period ending August 31, offsetting falling revenue in its stores as a result of the pandemic.
This follows a 75 per cent surge in online sales that was recorded in the previous quarter.
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While Nike did not provide a figure for its bricks-and-mortar sales, it did reveal overall first quarter revenue of $10.6 billion (£8.3 billion) as many of its key markets recovered since various lockdown restrictions eased, including China.
The retailer and brand has been transforming its business in recent years to sell directly to customers while reducing its store presence and wholesale partners.
During the various lockdowns across all of its markets, it leveraged its website and app to release limited edition products and drive sales through online customer experience innovations such as interactive work-outs and games.
Part of Nike’s transformation strategy is to have half of its sales derive from direct-to-consumer online sales, and chief executive John Donahoe said this shift could be a permanent trend.
“We know that digital is the new normal. The consumer today is digitally grounded and simply will not revert back,” he said.
Nike now expects full-year profit and revenues to come in ahead of expectations.
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