Have Minnesotans Decided to not “Do It” Anymore?

We’ve learned over the years that there are many dividends for exercise; staying in shape, doing some sort of exercise is a great way to deflate the stress in your life and it’s good for your heart and your mind. 

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For those who work out regularly, what they workout in is key. Lightweight clothing, or moisture-wicking clothing have become very popular, and of course the shoes you wear are a major component to you having the most opportunity for the success you seek.  

Dating back to the 1980’s, Nike has been a favorite for those who work out. The introduction of “Nike Air” shoes was a game changer for the shoe world. That is until now. 

Nike’s popularity and profitability has been on the ropes a bit lately. Late last week, their shares fell 20% and the company forecasts that they expect sales to be down at least 10% through the rest of the fiscal quarter.  

So, what has led to the loosening of the grip Nike has had on the shoe/sportswear world? Experts say that Nike has had a few marketing “boo-boo’s” that caused people to re-evaluate their allegiance to the company. 

And during that time of reflection, runners and those who exercise have found a shoe brand they like more. Both On Running and Hoka have each made great strides in popularity among those who run a lot.  

If you pay attention to shoes, which I do, around Minnesota you’ll see a ton of runners wearing On Running or Hoka. But, not just runners, but nurses and others in the medical world, as well as others who are on their feet a lot have found these two brands to bring the comfort and durability they need and want.  

Over the last 12 months, Nike’s shoe sales have dropped by over 17%. They have had the slowest growth in sales in the last 14 years, not counting the pandemic period.  

And The Morning Brew says that Nike has a “lifestyle” department, which includes the brand Converse, and it is now under performing.  

Nike says they have some new product lines coming out which they hope will help garner attention for those customers they’ve lost. Whether or not it will be enough for Minnesota customers to “Just Do It” again, remains to be seen.