By ENDVR
Nike has recently been at the center of various strategic shifts, prompting discussions about its approach to retail. There have been talks about laying off employees and pivoting from investing in direct-to-consumer (DTC) channels to reinvesting in its wholesale network. These changes have raised questions about Nike’s retail strategy, especially as there have been discussions on how their products are facing increased discounts in physical stores, while other brands dominate sales there.
The Problem Nike Needs to Solve
After years of prioritizing DTC channels, Nike is now recognizing the importance of its wholesale partners in driving growth and connecting with consumers. This shift is not just about increasing sales; it’s about leveraging the strengths of both DTC and wholesale to create a seamless, omni-channel retail experience. As reported by Bloomberg, Nike has brought back retired executive Tom Peddie to mend retail relationships and enhance the company’s wholesale strategy.
If brands like Nike could hire hundreds of brand reps for their wholesale channel, they likely would, because brand reps work directly with in-store sales associates. They provide them with knowledge and information to enhance in-store sales: ensuring optimal product displays, educating sales associates, and directly engaging with customers to boost sales. However, hiring and maintaining such a large team of brand reps is not economical.
The Solution: Hire Digital Brand Reps
Given the challenges and costs of employing numerous in-store brand representatives (and because your brand might not have the ability to hire staff in the 3rd party retail stores), the solution is to hire digital brand reps! A digital brand rep operates like a traditional brand rep but without physical limitations. It’s a constant presence for sales associates and store managers, providing support and information whenever needed, helping brands sell more in-store. Essentially, it’s an app that holds all the brand information, ensuring that every store offers a premium brand experience. Think of a digital brand rep as similar to ChatGPT for content writers; it enhances the role of traditional brand reps without replacing them.
A Digital Solution
Haven’t heard of a digital brand rep? That’s because ENDVR.io is the only one who has them. ENDVR’s digital brand rep is an always-on version of a traditional brand rep. Powered by an app, it provides constant support on product information, sales incentives, and rep servicing to sales associates and store managers. Unlike human reps, digital reps are available 24/7, offering a cost-effective solution that ensures consistent brand messaging and support across all stores. By combining a digital brand rep with traditional reps, brands can maximize efficiency, reduce costs, and ensure sales associates always have the latest information. This powerful combination empowers traditional reps to focus on building relationships while driving in-store performance.
Benefits of a Digital Brand Rep
Real-Time Data: Imagine a platform that tracks live insights, offers dashboard reporting, and analyzes your brand campaigns. This could help brands like Nike adjust stock levels and marketing strategies quickly based on consumer demand.
Consistent Training: A digital brand rep provides ongoing training and updates for sales associates, enhancing their product knowledge and improving the in-store customer experience. This results in higher conversion rates and reduced reliance on discounts.
Cost Efficiency: A digital brand rep offers a cost-effective alternative to hiring multiple brand reps for each and every store/door that your brand product is in. It supports every new hire and engages top salespeople without requiring physical presence, optimizing training efficiency. Your traditional brand rep might only be able to be in-store every few months, and that relationship is still important and essential, but in between, sales associates can tap the app and get all the information they need on the brand they are selling in-store.
Addressing Nike’s Challenges
Nike and other brands with physical store presence can benefit from hiring a digital brand rep to improve in-store merchandising and educate sales associates about product value. These reps ensure retail partners have the tools for real-time updates on product offerings, ongoing sales training, and immediate sales data. With knowledgeable sales associates, brands can effectively present products, reduce discount reliance, and enhance overall brand perception, leading to increased sales and customer satisfaction.
Get Your Own Digital Brand Rep and Sell More In-Store
ENDVR.io is the digital brand rep that is always there – supporting sales associates anytime, anywhere. Don’t miss this opportunity to stay ahead of the curve and sell more in-store.
Watch a quick video on what ENDVR’s digital brand rep is and how your brand can take advantage of it at a very low cost to increase sales and sell-through in physical stores.
