We have seen that 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, pivoting from investing in direct-to-consumer (DTC) channels, to reinvesting in its wholesale network.
These changes have raised questions for all brands on how they prioritize their retail strategy, especially as there have been discussions on how in-store products are facing increased discounts.
Leveraging Both DTC and Wholesale
After years of prioritizing DTC channels, Nike, among other brands, are 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 increase their retail relationships and enhance the company’s wholesale strategy.
If brands like Nike could hire hundreds of brand reps for their wholesale channel, would they? Well not really, but if they could have the opportunity to have a brand presence in each and every store/door they have product in -they would. If they could get direct access to the store floor sales associates and ensure they had all the right knowledge about the product to enhance in-store sales: ensuring optimal product displays, educating sales associates, and directly engaging with customers to boost sales – they would. However, hiring and maintaining such a large team of brand reps is not economical.
The Solution: Hire Digital Brand Reps
A Digital Solution
Haven’t heard of a Digital Brand Rep – that’s because ENDVR.io is the only one creating them. ENDVR’s innovative solution is helping brands sell more in-store. ENDVR’s Digital Brand Rep is an always-on version of a traditional Brand Rep. Powered by an app, it provides constant support and 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.
Benefits of a Digital Brand Rep:
- Real-Time Data: A Digital Brand Rep offers features like live insight tracking, dashboard reporting, and campaign analysis. These tools allow brands to see which products are performing well in specific locations, enabling timely adjustments in stock levels and marketing strategies. For Nike, this means there is the opportunity to react swiftly to consumer demands and optimize their inventory and promotions across all retail partners.
- Consistent Training: Sales associates play a pivotal role in influencing purchasing decisions. A Digital Brand Rep provides continuous training and updates to sales associates, ensuring they are knowledgeable about the latest products and promotions. This can significantly improve the in-store customer experience, leading to higher conversion rates and increased sales. Nike can use this tool to educate sales associates on the value of their products, ensuring that they can effectively communicate this to consumers and reduce the need for discounts.
- Cost Efficiency: Hiring multiple in-store brand representatives can be expensive. A Digital Brand Rep provides a cost-effective alternative, offering consistent support without the need for physical presence. It’s available for every new hire and communicates directly with top salespeople, ensuring that they never miss out on crucial training sessions.While your traditional brand rep might only be able to be in store every few months, 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 Brand Challenges in Wholesale
Many brands, even brands like Nike, face challenges in wholesale, such as improving in-store displays and educating sales associates about product value. With so many products available and 63% of consumers walking into a store undecided on what to buy, brands need the right tools to capture those customers’ interest. How do they stand out with so many other brands in the store, discounted products, and sales associates who might have missed traditional brand rep clinics or are new and unfamiliar with the products? By implementing ENDVR’s Digital Brand Rep, Nike can ensure that every retail partner has the tools and information needed to properly showcase Nike products. This includes real-time updates on product assortments, continuous training for sales associates, and real-time data on sales performance.
With better-educated sales associates, Nike and other brands in wholesale, can ensure that their products are presented at their full value, reducing the need for discounts and enhancing overall brand perception. Sales associates will be able to communicate the benefits and innovations of Nike products more effectively, leading to higher sales and improved customer satisfaction, experiences and sales.
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 at a very low cost to increase sales and sell through in physical stores.
