Nike Ecommerce Surpasses $1 Billion, Millennials Do 60% of Shopping Online and $100K Online Airplane Jet Engine Sale
Nike’s Online Sales Surpass $1 Billion
Nike did it, they surpassed $1 billion in online sales. Nike’s online sales grew 36% year over year, surpassing $1 billion in Q3. A number of aspects contributed to the growth including investments in digital tools like the SNKRS app. The company also expanded customer options online and launched an app in Japan ahead of the 2020 Tokyo Olympics, growing online sales 60% in Asia for the quarter. Nike’s online tools are also boosting sales that originate in retail stores.
What stood out to us? Nike’s early investments in ecommerce and digital marketing are paying dividends.
Millennials Do 60% Of Shopping Online
Thanks to U.S. millennials, online sales are booming. Millennials shop more online than in brick and mortar stores, and younger millennials are even more likely to shop online than older ones. Older millennials, ages 32 to 37, make roughly 43% of purchases in stores, and 57% online. Younger millennials, ages 27 to 31, make 38% of purchases in stores and 62% online. Millennials ages 22 to 26 make 39% of purchases in physical stores and 61% online. In 2019, millennials have made 60% of their purchases online, which is up 47% from a survey CouponFollow conducted in 2017. In total, millennials make 40% of purchases in stores, down from 53% in 2017. The survey shows “a shift to totally digital thinking among millennials,” says Marc Mezzacca, founder of CouponFollow.
What stood out to us? We’ll get back to you. Taking a selfie right now.
$100K Online Airplane Jet Engine Sale
It wasn’t long ago that Honeywell Aerospace launched its new online marketplace. GoDirectTrade, a B2B aviation marketplace launched by Honeywell Aerospace in December, is quickly starting to create traction and sold an entire jet engine online. Last week, Honeywell Aerospace had its biggest online transaction to date, the sale of a $100,000 engine off of a lear jet in Great Britain. “It was actually a buyer with a Gmail account—he was a parts broker who was using it on a private individual’s aircraft,” says Honeywell GoDirect Trade general manager Lisa Butters. “It (the engine) went on a 1984 IAI aircraft—we keep people flying.” The engine sold in just a matter of days because all the necessary documents and paperwork were available on the marketplace.
What stood out to us? B2B ecommerce experiences are flying ahead of competition.
In the headlines
- Grocery shopping? The growth of grocery sales is primarily online.
- Wayfair’s physical move: The ecommerce retailer is opening its first physical store.
- Swinging towards ecommerce: NBC Sports has launched a first-of-a-kind ecommerce platform on its Golf Channel.
- Facebook faces discrimination charges: The U.S. Department of Housing and Urban Development slammed Facebook with these charges over ad targeting.
Before you go
Targeting niche audiences is the key to ecommerce success.
Listen to this if...
You want to hear the latest podcast in building an ecommerce business, focusing on raising money.
Look at this if...
You want to see an infographic on market growth in U.S. B2B ecommerce.
Dose data of the week
This is for you
If you’re not getting The Dose sent to your inbox every Saturday, make life easier by subscribing here.
Have a nice weekend!
Be an ecommerce expert. Share the knowledge. Share The Dose.