It’s been reported time and time again in recent years that adidas has been and continues to gain ground on Nike. Per investment bank and asset management firm Piper Jaffray’s 34rd semiannual “Taking Stock With Teens” research survey, teens in particular are still straying away from Nike in preference of other brands. For some context, this year’s project surveyed 6,100 teens throughout 44 states.
“For the first time in years, we’ve seen Nike share moderate as a preferred brand,” Piper Jaffray senior research analyst Erinn Murphy noted in a statement. “Offsetting this weakness, we’ve seen an unexpected rise in trends like streetwear with Vans and Supreme gaining momentum. In addition, other brands such as adidas, Puma and New Balance has been capturing more mindshare as teens gravitate towards that 1990s retro look.”
While teens are still going hard after streetwear, it’s also worthy of note that adidas has been able to keep up with such a trend by focusing on street style.
“They continuously release new colorways for some of their key products like the NMD,” according to a Jane Hali & Associates email to Retail Dive. “Adidas Originals is always successful as the product resonates with a fashion upscale customer. The product continues to be design led with minimalistic silhouettes.”
In addition, adidas is doing a fantastic job of targeting its marketing to teenagers courtesy of various streaming services as well as social media.
Will Nike make some necessary changes to turn the tides? Only time will tell.
For more, find out what industry insiders really think of the chunky sneaker trend.
- Source: Retail Dive