So, Why is Nike so expensive?
Nike is perhaps one of the most well-known brands in the world. It has carved a special place for itself among the athletic footwear giants of the world. And not just for athletes, the brand has gained popularity as the go-to footwear for everyone.
These premium quality shoes can be worn almost anywhere and be paired with almost any outfit.
But a good pair of Nike shoes can cost you hundreds or even thousands of dollars.
So why is it that the brand that has gained such immense popularity also enjoys such high costs?
why is nike so expensive
Brand Value
The brand had a valuation north of $32 billion in 2020.
The distinguishable brand logo has gained widespread popularity. It has been repeatedly awarded the title of the world’s most valuable apparel brand, most recently in 2021.
The company has retained a praiseworthy reputation since its early days. And all this effort certainly adds value to the price tags of the products.
Quality
Nike is known to never compromise on quality.
Even the shoes towards the lower end of its diverse range are known to be of supreme quality.
Based on the fact that Nike primarily targets the needs of sports personalities, it needs to maintain certain standards during its production process. And the global giant has never disappointed.
Year after year, the reviews of users have turned out positive.
Versatile
Given that the founders were runners and track coaches, the company was always familiar with what an athlete needs.
Nike shoes were created with the idea of being the go-to product for runners kept in mind. Over the years, Nike has gone to great lengths to maintain this reputation.
Researchers have also confirmed that the shoes have an edge over their competitors in their comfort and tech levels. They can reduce the running time by 1-4%, which can provide them a winning edge.
Celebrity Endorsement
Nike has worked with popular faces like Michael Jordan, Tiger Woods, LeBron James, and Rafael Nadal for the promotion of their products.
These deals were worth millions of dollars. The brand has made repeated appearances on runways and has embellished the feet of numerous sportsmen and women.
Fashionable
Nike shoes are not just practical, they also have a very designer, modern look. They are great for routine wear and can be paired with most outfits. The creative designs along with the diverse color range only add to the desirability of the shoes.
One look at the beloved line- Nike Jordans, and you would be inclined to agree. The firm has allowed designers free reign over their collections. This has made Nike, not just a worldwide footwear brand but also a fashion industry giant.
with the rise of street style in recent years, the popularity of Nike is at an all-time high today as Nike is the go-to sneakers brand for any streetwear outfit.
Popularity
Have you ever seen the line outside a Nike store on the day when a new collection launched?
The enormous crowds speak for themselves. The product flies off of shelves. The brand is even a favorite among popular faces like Justin Timberlake and Jason Sudeikis.
Advertising
Nike is one of the best examples of how a product should be advertised. The company owes its brand value to great marketing to a large extent. Ironically enough, Nike ads do not even mention their own products.
They use a technique called emotional branding. Nike uses relatable ‘risen from the ashes’ stories in its advertisements. Something that resonates with everyone. The brave protagonist of the story fights against all odds to escape the bounds of what society told them. Each ad is carefully crafted to evoke motivation inside the audience.
All this thought process and hard work have paid off in the form of the large number of customers that remain loyal to the brand and others that join this group each day. Nike owes a large amount of its popularity to its advertising.
Marketing
If you were to ask a complete layman about the tagline of Nike, they would probably answer the question correctly. The now renowned ‘Just do it’ campaign was started in 1988. The catchphrase indeed caught the attention of the masses. This is why that particular campaign remains one of the most iconic ones, even today.
During the 2014 FIFA World Cup, it launched the phenomenal shot marketing campaign in partnership with Google, to attract the attention of football lovers from all around the globe.
The company even launched a Youtube original series by the name of ‘Margot vs. Lily’. The show featured Nike merchandise and promoted the brand not only with these appearances but by narrating a story that intrigues viewers and kept them glued to their screens.
Needless to say, the company has gone to great lengths by way of marketing.
Technology
Nike has been known for its cutting-edge technology. They have never fallen behind on any innovation.
In fact, the company has been a pioneer in new tech. Take, for example, the newly launched HyperAdapt shoes. This latest invention has laces that automatically adjust according to your feet. They are connected to Nike’s Adapt app. But they also come at a massive cost of $720.
In 2012, Nike launched its fly knit technology, the brilliant fabric that is used to make Nike shoes’ tops. It is a seamless fabric created with the use of advanced computer tech. The material is very flexible and yet has incredible tenacity. It reduces the overall number of parts used in stitching the shoe. This makes the shoe lighter, yet better in strength and quality.
Contributing to Society
Nike recognized the demands of the younger generation that make up the majority of its audience i.e. the call for companies that work fairly and for the betterment of society.
They compensate workers fairly. The material is derived in a way that does not harm anyone. For example, Nike claimed that 100% of its cotton is certified organic, recycled, or sourced through its Better Cotton initiative. It also reuses plastic.
The brand has even launched several communities outreach programs to show that it is committed to the goal of doing dome good for society.
the bottom line:
The good thing about Nike is that they also manufacture shoes that fall in the lower range of the price spectrum. While they may not be as fancy as a fancy pair of Air Jordans, they do offer a good amount of practicality and comfort.
A good pair of Nike sneakers is always a good addition to any wardrobe and spending a little bit extra is worth it considering the quality and design that Nike provides.
