The ongoing COVID-19 pandemic has been pushing the fitness and health enthusiasts to embrace solo fitness endeavors like running a major part of the lifestyle, making the running sneaker industry a winner. The trend caused by the pandemic beats the 2010’s, group classes which were the world’s hottest fitness trend earlier.
As per analysts at Bank of America Global Research brands like Brooks, HOKA One One, On Running, and Nike’s performance running sneakers stand strong enough to benefit in the interest of running outdoors with searches for Nike Running surging with 104% through May 24, beating this entire group.
“We believe key beneficiaries from the relative momentum in performance running is [Nike] & [Deckers Outdoor],” wrote BofA in a note to clients. Dicks Sporting Goods] (DKS) should also be a significant beneficiary with its broad offering of performance running brands (Nike, Brooks) and the recent announcement as the first sporting goods retailer to carry HOKA,” the firm added.
Other sports like biking and hiking are also likely to benefit from new post-COVID-19 fitness trends with consumers picking up new fitness habits keeping social distancing norms in mind.
NIKE, Inc. (NIKE) is the world’s top designer, marketer, and distributor of athletic footwear, equipment, apparel, and accessories. The Beaverton, Oregon based company offers products for a wide variety of sports and fitness activities. To learn more about NIKE, Inc. (NIKE) and to continue to track its progress please visit the Vista Partners NIKE Coverage Page.