Nike Should Be Worried It's Losing This Key Customer
Nike's (NYSE: NKE) problems may be bigger than you think. Beyond flat sales, losing market share to rival Adidas (NASDAQOTH: ADDYY), and its sneakers and apparel no longer holding the cachet they once did, the footwear giant is reportedly losing its grip on an important consumer demographic: teens.
Analysts at Piper Jaffray say teens are abandoning Nike at an alarming rate, with the brand shedding between 600 and 800 basis points of market share with teens depending on how they sliced up the data in its biannual Taking Stock With Teens report. Make no mistake, Nike is still the top brand overall, but it is quickly losing mindshare among teens across all categories, and that could portend greater hardship for Nike in the future.
Image source: Getty Images.
Source: Fool.com
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