Nike Jumps into the Shoe Subscription Service and Hong Kong Protests Shut Down an Airport: The Short List
This week’s edition of The Short List highlights Nike’s latest play into the shoe subscription space and the economic impact of protests and flight cancellations in Hong Kong.
67% of retailers report higher revenue after launching subscription services, and Retail giant Nike looks to follow that trend. Nike announced its first jump into the shoe subscription service with a program called the Nike Adventure Club. The program is geared specifically for parents with kids ages 2-10 to accommodate the constant need for purchasing new shoes in different sizes. The company hopes this move will capture a larger share of the $10 billion dollar kids shoe market. As delivery woes with Amazon continue to grow, look for shipping providers like FedEx capitalize on this program.
Authorities in Hong Kong cancelled hundreds of flights in response to large scale protests inside the city’s international airport this week. This is the latest blow to the region’s travel and hospitality industries. The airport alone currently contributes approximately 5% to Hong Kong’s GDP.
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