The United States was once the world's largest consumer market, but now inflation and banking crises have made it difficult for the US to keep up with purchases.

China's vast market has instead become a focus for many international giants, but the US giant Nike is losing its grip on the Chinese market.

After releasing the latest performance data, we found that Nike's market value is now only $190 billion, with a loss of more than 550 billion yuan compared to its peak.

01, Changes in Chinese Consumers

With the rise of social media, consumers receive more diverse information. Moreover, they can handle this information well.

As a result, single-brand promotion and public opinion marketing gradually lose their advantage in output voice, and Nike's declining sales clearly show this.

Consumers can better grasp information, have more channels to speak and understand brand choices, which means they have more expertise and no longer accept a single brand and then make a purchase.

Now they have more of their own ideology, they have more channels to understand more brands, make comparisons and choices, and thus pay more attention to other brands.

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It is already difficult for these US giants to guide public opinion on their own, especially in the process of the Xinjiang cotton incident in the past few years, we can see this.

02, Hurting the Feelings of Chinese ConsumersCompared to foreign brands like Nike, domestic brands are more popular. They have a deeper understanding of the Chinese market and can develop products that suit the characteristics of the Chinese market according to customer needs and market changes.

On the contrary, we have seen that after Nike responded to the call of the United States and transferred its production chain to Vietnam, the style and quality of its products have declined significantly, no longer comparable to the quality of domestic brand products.

According to sources, Nike has already increased orders to contract manufacturers by at least 30% in desperation.