The Financial Collapse of 2001 Unwinding Message Board

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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding

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To: robert b furman who wrote (11932)	12/23/2023 2:44:01 AM
From: elmatador	Read Replies (3) of 13782

Hi Bob! This is the canary on the coal mine. Nike says it will cut $2 billion in costs in the next 3 years, which includes laying off employees, in a major warning for consumers. Shares tumbled as much as 14% Friday. Expect footwear, athletics goods and apparel to suffer in 2024. Customers are switching their behavior, passing up discretionary purchases — like expensive sneakers and athletic wear (it surely are the GenZs!) — for basics and experiences like concerts and travel. Here is what Nike can do: Income comes down, GenZs cut the superfluous and prioritize backpacking. Nike move focus on fitness and on the outdoors and backpacking travel Let's look as some numbers: - The outdoor economy is strong, with $862 billion in gross economic output - Compare with the global fitness industry which was worth $96.7 billion in 2022. - The global Backpack market size was valued at USD 1.58 billion in 2021 and is expected to expand at a CAGR of 7.17% during the forecast period, reaching USD 2397.99 million by 2027.

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