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, Chief Financial Officer Matt Friend said Gen Z demand for Nike products on the Chinese shopping site Tmall increased 45% on Singles' Day, the annual shopping holiday.
Donahoe specifically mentioned local iterations of the Air Force 1 and Dunk that better resonate with Chinese and younger consumers. Nike footwear sales in China grew 11% to $1.3 billion in itsDespite a rise in popularity of Chinese brands likeThe semiannual, which includes Gen Z, shows Nike and its Converse brand, and rival Adidas, atop the footwear category in the US. Nike and Lululemon are the top clothing brands.
JD Sports, the UK-based owner of sneaker store chains Finish Line, Shoe Palace, and DTLR, recently credited Gen Z for bolstering its holiday sales by 20%. CEO Régis Schultz said the generation's spending power has grown and is not burdened by monthly bills. JD Sports and its subsidiaries sold over 2 million pairs of Nike Air Force 1s in the last three months of 2022,"I think that the buying power of our customer is much higher than it used to be," Schultz told reporters, referring to Gen Z."They don't have the utility and the rent or the mortgage to pay.
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