In data: Online footwear market outpaces physical in 2024 [Yahoo! Finance]
Nike, Inc. (NKE)
Last nike, inc. earnings: 3/24 04:15 pm
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Source: Yahoo! Finance
Tech innovations enhancing the online experience Several technological advancements are contributing to the online footwear market's resurgence. Brands are incorporating features like artificial intelligence (AI) and augmented reality (AR) into their websites, which help shoppers accurately select the right size and style. Between 2023 and 2027 the online channel is expected to rise at a compound annual growth rate (CAGR) of 8.1%, making up over a quarter (25.8%) of the overall footwear market by 2027. Credit: GlobalData GlobalData's Artificial Intelligence in Retail and Apparel report suggested the market will be worth $908.7bn by 2030 and within the apparel sector, manufacturers will have the biggest opportunities to capitalise on that growth depending on where they choose to apply the technology. In 2019 US sports brand Nike introduced its Fit technology which measures users' feet using their smartphone cameras and AI algorithms. The following year UK online retailer T
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