Nike's Digital Transformation

Many companies are making bold investments to remain competitive and relevant in today's digital landscape. One example is Nike's recent acquisition of Invertex— a startup that creates virtual sneakers and collectibles. Nike continues to use technology to allow people to try their products before buying them.

Digital Transformation at Nike
It's a new era in eCommerce, with digital innovation at the centre of it all. The Internet has created a new shopping channel for customers, and businesses have taken advantage of it. Still, traditional marketing approaches are no longer relevant—those trying to reinvent themselves on the Internet risk becoming irrelevant if they don't do it properly.

Nike is an excellent example of this trend. The company has gone from selling sneakers and running gear to selling everything from sneakers and running gear to underwear and eyewear. To truly build its digital brand, it needs to be more than just an email address or a URL. It needs to make itself known in the digital sphere — not just through its website, but also across all channels.

Nike Augmented Reality Inventions
Sneakers have been a hot commodity for decades, but the recent explosion of hype beasts worldwide has turned shoe collecting into a full-on culture.

With Nike's many Air Jordan and Yeezy models swiftly becoming sought-after collectibles, they've always been at the forefront of this fashion. But now, they're making some moves that could make their shoes even more valuable in the future.

Nike acquired Invertex, an augmented reality startup based in Tel Aviv. The startup specializes in 3D scanning, which will allow Nike to create virtual versions of their most popular shoe models. This innovative technology, like the Riverbelle casino canada video poker games, allows players to digitally "try on" shoes before purchasing them.

How Digital Transformation is Powering Nike Business Growth
Nike's purpose is to inspire and innovate every athlete across the world. Nike, has built a robust digital transformation strategy that has led to a 100% revenue increase from the Nike marketplace and revenue growth of 20% across its direct-to-consumer segment.

The digital transformation strategy has also helped it improve its customer experience, which has resulted in more than double the number of members signed up to NikePlus — its membership program that grants members exclusive product access, rewards, and experiences.

Making This Strategy Work for You
The complete transition of a company to digital technology fundamentally alters how you manage and provide value to customers, is a hot topic for businesses all over the globe. But while everyone knows they need to be "digital," most struggle to get started. Only 25 percent of the companies in our Global Digital IQ Survey feel they are effective at digital strategy development, and just 20 percent believe their board is aligned on the company's digital strategy.

Nike is a very successful company. It is a billion-dollar brand, and its success is mainly due to its digital transformation strategy. Nike's strategy has focused on the following:
- Giving customers access to products
- Creating customer loyalty
- Providing customers with a personalized experience
- Letting customers buy products directly from their mobile devices

Sports technology is constantly changing, and it's essential to keep up with new developments. It's also crucial to know how best to use technology to further your product, brand, or message. Nike tapped into this knowledge by purchasing a company that develops virtual sneakers and collectibles. Virtual reality may be an element of future sports gear. It's worth mentioning that the tech is being customized to assist athletes to perform better.

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