Nike is still tops with teens: Piper Sandler survey
Many boardroom executives have racked their brains trying to figure out what appeals to teenagers, but according to Piper Sandler’s “Taking Stock With Teens Survey - Fall 2020,” Nike (NKE) has seemingly cracked the code.
Piper Sandler’s Senior Research Analyst Erinn Murphy joined Yahoo Finance to break down what the Swoosh brand is doing right when it comes to teens.
Nike has been the Number 1 apparel brand in the survey for 10 consecutive years and has further strengthened its lead at a 27% share—up 400 bps vs. last year.
“I think that Nike has done an excellent job of really being relevant to this generation. There have been so many controversial, if you will, ... ways they market, whether it’s Colin Kaepernick, whether it’s some of the ways that they’ve been marketing [amid] the pandemic, but yet this generation resonates with that. They do stand for change.”
Air Force 1s and Air Jordans have been some of the most popular Nike offerings as far as teens are concerned. According to the multinational independent investment bank, the brand is also the number 1 preferred athletic apparel & footwear brand among upper-income teens at a 60% and 74% share, respectively.
Murphy tells Yahoo Finance that the Jordan brand has had a renaissance this year with the success of ESPN’s Chicago Bulls documentary “The Last Dance.” The Piper Sandler analyst also notes that Nike’s focus on creating sustainable products also plays big with teens.
“From a product perspective, they have been innovating, and it’s not just new products, they have new products coming into the market. Now that’s focused on recycled or upcycled products, so it’s good for the environment.”
Reggie Wade is a writer for Yahoo Finance. Follow him on Twitter at @ReggieWade.
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