Nike Statistics 2024 By Revenue and Market Share

Nike Statistics 2024 By Revenue and Market Share

Introduction

Nike Statistics: Nike is a multi-national corporation engaged in manufacturing, developing designs global marketing, as well as the sales of equipment, footwear development,

clothing and services. Nike is the biggest provider of athletic footwear and clothing, as well as a major producer of sporting equipment. Its headquarters are located near Beaverton, Oregon, in the Portland metropolitan area. It was founded by Bill Bowerman and Phil Knight in the name of “Blue Ribbon Sports” on January 25 1964. The company was officially renamed “Nike Inc.. on May 30th 1971. Nike also produces sportswear and equipment. Nike also operates retail stores under the name Nike Town. Nike has a long-standing relationship with famous athletes and teams across the world and is famous for its logos “Just Do It” and the Swoosh Logo. We’ll provide more details about Nike Statistics within the following article.

Editor’s Choice

  • As of 2021, the United States is Nike’s biggest market, generating almost $17.2 billion in revenue.
  • In 2022, the company spent $3.1 billion on marketing and promotion.
  • Nike has become among the 50 most valuable companies globally, with a market capitalization of $197.8 billion.
  • Nike and the Nike swoosh logo have been registered in 170 jurisdictions worldwide.
  • Nike’s Annual Revenue in 2022 was $46,710 million.
  • As of 2022, Nike operates a total of 1,046 retail stores globally.
  • According to Forbes, Nike is the world’s 13th most valued brand, having passed Adidas, which is 51st.
  • In February 2022, Nike.com had almost 98 million visits.
  • American visitors accounted for 34% of total visitors, whereas the Republic of Korea was in second place at 11%, followed by the UK in third place.
  • In 2021, Nike held about 27% of the United States sports footwear market.
  • In the second quarter of the 2022 fiscal year, sales for NIKE Direct grew by 16% to $5.4 billion, and digital sales grew by 25%.
  • Nike’s revenue includes buildings valued at $2.44 billion and machinery and equipment valued at $2.75 billion.
  • As of February 2023, Nike has a market cap of $197.43 Billion.
  • Nike placed 85th in the Fortune 500, declaring that it is the 85th largest company in America in terms of revenue.

Nike Revenue Statistics

  • As compared to the value of 2017, Nike’s shoe revenue has increased by 38.4% in 2023.
  • In 2020 and 2021, Nike’s total revenue was $23.3 billion and $28.0$28.0, respectively, with growth rates of 8.5% and -3.7%, respectively.

nike-shoe-revenue-by-year.

(Reference: runrepeat.com)

  • Nike’s revenue dropped 3.75 percent during the pandemic in 2021.
  • Roughly, the total sales of Nike footwear did not decrease. This deduction in the rate is caused by the increase in sales of Nike apparel, which took up 29% in 2021 and 29.9% in 2022.
  • About 1.3 points increase from the previous 66.8%.
  • Compared to 2020, the highest rate of increase in total revenue for past years was when the figures rose by 20.2%.
  • In 2018, the total revenue was $22.3 billion, with 5.7% growth, whereas in 2019, it was $24.2 billion, with 8.5% growth.
  • Nike’s total shoe revenue share reached $29.2 billion in 2022.
  • In the years 2022 and 2023, Nike’s total revenue was $29.2 billion and $33.1, with 4.3% and 13.4%, respectively.
  • In 2023, Nike’s footwear sector registered a 68% share compared to the total company revenue.
  • During the COVID-19 pandemic, Nike’s footwear revenue share increased from 66.2% to 66.7% and grew to 67.4%.
  • From 2017-2022, the Nike shoe market comprised 64.5% of Nike’s total company revenue.

Nike Employee Statistics

  • Nike has employed almost 83,700 employees globally as of May 31, 2023.
  • The largest group of Nike website visitors is between 25 and 34 years old, making up 30.82%.
  • On a global platform, Nike has over 500,000 employees producing its footwear.
  • In addition, outsourcing its production has given Nike more flexibility and responsiveness to market trends and customer demands.
  • Following closely, customers aged between 18 and 24 use 25.89% of the website.
  • In 2022, Nike. Inc. has a global workforce of almost 79,100 employees, reflecting a growth of nearly 7.91%.
  • Nike also emphasizes fair labor practices and ethnic sourcing.
  • Outsourcing as a production strategy has resulted in success on a global athletic footwear standard.
  • Age groups between 35 and 44, 45 to 64, 55 to 64, and 65+ also show notable interest in Nike’s products, making up almost 19.94%, 12.32%, 6.87%, and 4.16% of visitors, respectively.
  • As per Nike Statistics, 44% of the workforce is females, and almost 56% is male.
  • Nike also outsources the work to contractors in other countries, such as the Philippines, China, Vietnam, Indonesia, and Taiwan.
  • The maximum number of employees identified was 61% White, 16% Hispanic or Latino, and 11% African American.
  • The tenure for an employee at Nike is 3.3 years.
  • Nike implies quality control measures to guarantee that the products manufactured by the contractors are considered to the company’s standards.
  • Nike’s outsourcing decision has benefited it by lowering its inventory levels, minimizing price markdowns, and guaranteeing customer satisfaction.
  • Nike’s minimum annual salary is $37,434, and employees tend to support the Democratic party.
  • Nike prioritizes employee development and growth through extensive training programs and investment in professional development.

Nike Demographics

  • Nike is a rare brand with a vast target audience. It targets consumers aged 18 to 40.
  • As per Statista, in 2020, the official Nike sales showed a remarkable income.
  • As per Statista, Nike women’s clothing and sportswear generated almost 46.4 billion in revenue in 2021.
  • Menswear generates more noteworthy revenue with 14.2 billion Euros.

Nike Geographical Statistics

  • 34% of Americans, 11% of residents of the Republic of Korea, and 5% of U.K. residents visit the Nike website.
  • Roughly 5.3 million people claim that they have worn Nike clothing in 2023.
  • Nearly 61% of the men in the U.K. like Nike products. Nike is the most popular sportswear brand in the United Kingdom. Almost 4 out of 5 men have at least 1 product of Nike.
  • Nike Sports accessories are used by almost 1.5 million people in the U.K.
  • In 2022, North America generated revenue of $17.2 billion or 39%, whereas revenue from the EMEA area was $11.5 billion and $11.5 billion, respectively. China generated $8.3 billion in revenue, and the LATAM and APAC regions generated 45.3 billion and 45.3 billion, respectively.
  • Nike is notable in the global logistics and distribution section, having many distribution centers worldwide.

Nike Advertising Statistics

  • In 2020, Nike only spent almost $3.59 billion U.S. dollars on advertising.
  • Nike spent almost $150.4 million on social media only in 2021.
  • Nike’s T.V. spending was almost $239.6 million in 2022.
  • Nike spent almost $49.2 million on advertisements in the U.S. in just March 2022.
  • As of 2020, Nike has always been a leading advertiser in the clothing and sports accessories industry in the U.S., and advertising spends almost $691 million.
  • 73% of Nike’s advertisements were sports-themed in 2022.
  • Nike used the 1988 slogan “Just Do It,” which was known by almost 90% of Americans.
  • Nike’s digital advertising spent almost 13% more than last year.

Nike Stores Worldwide

Year Number Of Stores
2023 1032
2022 1046
2021 1048
2020 1096
2019 1152
2018 1182
2017 1142
2016 1045
2015 931

(Source: marketsplash.com)

  • In 2023, Nike will operate 1,032 retail stores globally, with stores located in the United States and other countries worldwide.
  • In 2015 and 2016, Nike started with 931 and 1045 stores worldwide.
  • As we move forward in the years 2017, 2018, and 2019, the global count of the stores was 1142, 1182, and 1152, respectively.
  • In 2020 and 2021, Nike’s sales and demand reduced, and there were 1096 and 1048 outlets, respectively.
  • The numbers were 1046 and 1032 in 2022 and 2023, respectively, so no special change was observed.
  • Europe is another primary market for Nike’s growth.
  • 50% of the Nike factory stores, a 3rd are in-line and employee stores and a quarter are Converse stores.
  • Nike’s target market is a variety of places all over the globe, generally in urban centers.
  • Nike generates more revenue from North America than any other part of the world.
  • Nike has seen noteworthy growth in emerging markets like China, Brazil, and India, with significant sales of sports and fitness products.
  • According to Nike Statistics, Nike has made an established stride in Asia, especially in China, Japan, and South Korea.

Nike Sponsorships and Endorsements

  • Nike has been named the world’s most remarkable sports brand, with a value of $452 million.
  • According to Nike Statistics, Turkey has the most Nike stores, with almost 170 official retail shops.
  • In 2020, the organization employed nearly 75,400 employees.
  • Air Jordan was introduced in accumulating $94.6 million in sales during 1st year.
  • Nike spends almost $4.5 billion on sponsorships and athletes per year.
  • Per SportsPro, Nike has nearly 8.7 billion in revenue from social media engagement posts promoting the brand.
  • As per Statista, Nike has 1,048 stores all around the world.
  • As per The Richest, Air Jordan generates almost $73 million annually.
  • Nike has 73,300 workers globally.
  • As per Statista, Nike has 40 stores in the United Kingdom.

Most Expensive Nike Footwear

  • Solid Gold OVO* Air Jordan 10 is worth $2 million to date.
  • Kanye West * Nike Air Yeezy 1 ‘Prototype’ is worth $1.8 million respectively.
  • Michael Jordon’s Game-Worn Nike Air Ship is worth $1.47 million.

Nike Endorsements Facts

  • Nike, a popular footwear and sportswear company, sponsors many sporting events, including the Super Bowl.
  • Nike is a sponsor of the prestigious football club FC Barcelona.
  • At the time of Fox’s Super Bowl LVII telecast, Nike was the most popular brand, which had almost 1,079 seconds of on-screen time, and the media cost $211.1 million.
  • The 57th edition of the Super Bowl took place at the State Farm Stadium in Glendale, Arizona, on February 12, 2023, which marked the cumulation of the National Football League.
  • Nike spends almost $4.5 billion on sponsorships and athlete endorsements every year.
  • The Dawn Project aired an almost 30-second advertisement that calls for a ban on Tesla’s Full Self Driving system.
  • The Tesla advertisement costs $598,000, and it features a video clip.
  • According to SportsPro, Nike is the world’s most-marketed sports brand, with a value of $452 million.
  • Nike’s athlete endorsements involve a lifetime deal with Cristiano Ronaldo, predicted to exceed $750 million in the coming years.

Technology Used by Nike

  • Nike Fit: This technology uses augmented reality to measure your feet and recommend the right size for Nike footwear. It aims to enhance the online shopping experience by ensuring a better fit.
  • Nike Adapt Technology: Nike Adapt is a self-lacing technology that allows users to adjust the fit of their shoes using a smartphone app. This technology was initially introduced in the Nike HyperAdapt and later in the Adapt BB basketball shoe.
  • Nike Flyknit: Flyknit is a technology that utilizes a lightweight, knitted upper material to create a form-fitting and virtually seamless shoe. It provides support and breathability while reducing waste in the manufacturing process.
  • Nike React Foam: Nike React is a cushioning technology used in the midsoles of some Nike running and basketball shoes. It is designed to be responsive, durable, and lightweight.
  • Nike Dri-FIT: Dri-FIT is a moisture-wicking fabric innovation used in Nike apparel. It helps keep athletes dry and comfortable by pulling sweat away from the body to the fabric’s surface.
  • Nike Air: Nike’s Air cushioning technology, introduced in the Air Max series, provides lightweight and responsive cushioning by incorporating pressurized air into the midsole.
  • Nike Vaporfly: The Vaporfly series, including the Vaporfly and Alphafly, features innovative designs and materials to improve running performance. These shoes gained attention for their use in elite marathons.

Conclusion

Nike Statistics states that the brand is among the 50 most valued organizations globally and the number 1 sports brand worldwide. Nike’s profits were adversely affected during the pandemic, and its profitability decreased. Nike’s sponsorship continues to prosper, and Nike’s brand loyalty statistics show how consistent it is with all demographic groups. Nike has several physical retail stores that are witnessing a decline, but Nike likers all over the globe still need to go online. Innovative strategies range from investing in digital advertising to outsourcing products. Nike’s journey is an enthralling statement of the potential of strategic advertising.

 


Source: Tech News