In the deep dive analysis of Nike (NYSE:NKE) (read
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Hombres Zapatos Baratos Nike Free Run 2012 Lana Invierno Piel Negro Azul Hombres Comprar Con Seguridad NKE. We’d like to pick companies managing to grow despite the worldwide recession. But given today’s situation, it is reasonable to assume that the overall economic activities may slow down to such an extent that growth becomes unattainable for
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1. Aggressive expansion may offset flat or declining revenue from existing stores. In the F2Q09 earning call, NKE management described its China market as:

China remains
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4000 stores, that sounds like a lot; and tier 1 and tier 2 cities, what does this mean? China’s cities are commonly segmented into different tiers, normally 4, based on the economic importance. However, there are no definitive standards for how the cities should be categorized. If you Google it, you should be able to find two basic versions. One of them categorizes around 30 top China cities as tier 1 2, but obviously, for our case, Nike potential market in China won
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A common approach is to put the four
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Let not talk about tiers 3 and 4, as I don think Nike would have the resources to tap into these cities in the next few years. And for tiers 1 and 2, estimated to contain a population of around 450 million, we are having 4000 stores, so roughly, we are talking about 12 stores per city, with each one serving around
Página Oficial Descuento Venta Nike Free Run 3.0 V5 Ext Pink mujeres rojas Venta Zapatos Para Hombre 110,000 people. (It’s not rock solid science, it is my estimation. The same source mentions among the 300 tier 2 cities, 120 of them have populations over one million, so it is 120 million. For the rest 180 cities, I assigned an arbitrary number, 100 million (maybe too conservative), based on my readings of China
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In
Tienda Online Nike Roshe Run Hombres Rojo Blanco 2014 Nuevo Estilo the US, "We estimate that we sell to more than 25,000 retail accounts in the United States" (2008 10K), which translates to 12,000 people per store. Sure the average household income in America
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2. Nike core customer
Comprar Auténtico 2013 Nike Free Run 5.0 Olímpico Amarillo Gris Mujeres Tenemos Buena Reputación base is not affected by the recession as much as perceived. As I mentioned in another blog, Nike actually has a higher price tag on their products in China than in the US. Using
Venta Con Alta Calidad y Bajo Precio 2012 Nike Free Run 2.0 Gris Púrpura Mujeres Una Semana Llegue a Su Puerta y Super Servicio Al Cliente footwear as the example, in the US market, normally the prices are between $50 and $140, and you
Cómo Puedo Comprar 2012 Nike Free Run 3 Naranja Gris Mujeres Hasta 52% De Descuento can easily find sale items below $50, or if you live close to a factory store, the deals may be even cheaper. While in China, most of the shoes are above $100, when on sale, you may see a few items drop to around $60, and factory store? Unheard of. Keep in mind that the
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The immediate question to follow is that how much is this group of consumers affected by the
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Another important factor to keep in mind is that social stability is always the top priority for
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3. The money management pattern of Chinese customers makes them less vulnerable than US customers under economic pressure. We just witnessed the burst of the Chinese stock market bubble. In the year
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Setting aside all the market manipulations, one interesting yet important fact you can gather from this is the vast savings the Chinese people have in their bank accounts. This reflects a Chinese tradition in money management: no debt, saving for the future. This concept evolved as China society is becoming more open, but it is still mainstream. In fact, credit cards just started getting attention and have been gaining some momentum over the past 2 years in a few cities. I won elaborate on this topic, as this is more like an indirect and habitual factor. The key is, since the customers, as a group, have decent savings and little to no debt, the pressure from the economic slowdown is much less compared to their counterparts in the US, who normally are constantly haunted by fears of selling their houses and cars once their jobs are lost. As a result, they
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So here are the conclusions. First, there is no doubt that China’s market offers NKE the golden opportunity to thrive through the recession. The rest of the story is about NKE’s
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