Footwear giant Nike is trying out a new business playbook to meet the needs of brand-loyal consumers amid the coronavirus pandemic.
"We've seen a lot of success digitally," Heidi O'Neill, president of direct to consumer at Nike, told Cheddar. "We're leveraging the strength of our digital ecosystem to create millions of connections with consumers around the world who want to stay healthy and maintain their physical and mental wellbeing."
The company is offering its Nike Training Club Premium subscription service for free. The app offers workout sessions with "master trainers" teaching everything from yoga to weight training.
O'Neill said Nike has focused on putting out workouts that people can do indoors.
"We're publishing all sorts of workouts, but we're paying real close attention to the workouts that people care about now, workouts such as stretching, mindfulness, big workouts for small spaces," she said.
Nike is also streaming workouts for free on YouTube. A recent video featuring Kirsty Godso, a New Zealand native and fitness trainer, drew 800,000 viewers. She's set to lead another class on Saturday.
Last week, 10,000 million people around the world did a workout with Nike, according to O'Neill.
As for its retail locations, Nike is piloting contactless pick-up and contactless pay at Chinese stores and plans to bring those same conveniences to U.S. stores, which have been closed since mid-March.
To some degree, O'Neill said, changes to consumer preferences could stick around after economies reopen.
"What we're seeing in China is that some of consumers' preferences and behaviors during the crisis actually don't change," she said. "Consumers have a new expectation and love for the convenience of working out at home. Consumers are staying online and shopping digitally even as stores reopen."
After the 2021 boom, IPO activity slowed down significantly, in part due to monetary policy – but things are getting moving again with tech-friendly companies like Iboutta and Rubrik making a public debut.
With an increasing demand for mental health services, one person wanted to change the therapy game. In 2017, CEO Alex Katz founded Two Chairs, a company that uses technology to match patients with the right therapist.
Not only is April Financial Literacy Month, it’s also the kickoff of the spring homebuying season. So now is the time to make sure you have a financial plan in place – and why it might not be wise for that to include buying your first home.
While the U.S. may slowly be on the path to lowering inflation (and therefore interest rates), Europe has thoroughly trounced America, putting it on the path to lower rates by this summer.
April's release of the monthly Housing Starts and Building Permits reports by the Census Bureau provides crucial insights into the construction activity in the housing market. These reports are an economic indicator, shedding light on the current state of the housing market and its broader economic impact.
Caitlin Clark is heading to the Indiana Fever, the number one draft pick and the highest-scoring college basketball player of all time. And while she may not be getting millions from the WNBA, there's a few ways she'll net compensation for her generational talents.
Author of 'Clean Meat,' Paul Shapiro joins Cheddar to discuss how the cellular agricultural revolution helps lower rates of foodborne illness and greatly improves environmental sustainability. Plus, how his company The Better Meat Co. is bringing healthier food options to the table.
Recent headlines might make it sound like World War III is imminent, but when it comes to your finances, it's not the time to panic. The market is coming off its longest winning streak since 2011.
You may have noticed fewer new venture capital-backed startups (like Airbnb or Uber) lately. The market slowed to a crawl after 2021, but things are expected to take off again in 2025.