Nike updated its terms of sale and said it could refuse refunds, charge restocking fees, and close accounts of resellers, but an insider and analysts said the company could take additional steps to make the market for hot sneakers more fair.
Nike releases its most coveted, limited-edition shoes on its SNKRS app. The company also restocks some popular footwear on its self-titled Nike app, where it sells most of its apparel.
Nike's admitted inventory troubles make the timing of the terms of sale changes peculiar, Sakany said. In September, Nike. Nike is looking to offload as many sneakers and apparel as it can through the holiday season by way of discounts. Nike's revision to its terms of sale haven't swayed investor opinion too much so far. Shares increased slightly on Wednesday. But the changes could do more to help improve consumer perception, Tom Nikic, Wedbush Securities senior vice president and equity analyst, said.
"If you look on social media, sneaker blogs, or other sources of sneaker content online, you often see 'sneakerheads' venting their frustrations about how hard it is to get access to these shoes without paying a premium - sometimes, a very large premium," Nikic said, referring to the secondary sneaker market.
Sakany added that it would benefit Nike to point out how exactly the brand is making launches on its apps more fair to improve consumer perception.Do you work at Nike or have insight to share? Contact reporter Matthew Kish via the encrypted-messaging app Signal or email .Sign up for notifications from Insider! Stay up to date with what you want to know.Was this article valuable for you?
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