At a cost of 80 U.S. dollars per pair, Nike had the highest median price of popular sneaker brands worldwide in 2017, ten U.S. dollars more than the next ranked brands. At the other end of the list, Vans and Converse have the lowest median price at around 40 U.S. dollars.
Why are Nike sneakers more expensive?
Nike does offer moderately priced sneakers, but consumers are willing to pay high prices for signature models associated with high-profile athletes. Basketball icons LeBron James and Kyrie Irving are two players who have exclusive footwear collections with Nike, and these unique sneakers can command a greater price. Nike is able to agree lucrative endorsement deals with sports stars because it is the leading apparel brand worldwide, generating a global revenue of more than 39 billion U.S. dollars in 2019.
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Datafiniti. (June 6, 2017). Median price of popular sneaker brands worldwide as of 2017 (in U.S. dollars) [Graph]. In Statista. Retrieved October 11, 2024, from https://www.statista.com/statistics/828403/median-price-of-popular-sneaker-brands-worldwide/
Datafiniti. "Median price of popular sneaker brands worldwide as of 2017 (in U.S. dollars)." Chart. June 6, 2017. Statista. Accessed October 11, 2024. https://www.statista.com/statistics/828403/median-price-of-popular-sneaker-brands-worldwide/
Datafiniti. (2017). Median price of popular sneaker brands worldwide as of 2017 (in U.S. dollars). Statista. Statista Inc.. Accessed: October 11, 2024. https://www.statista.com/statistics/828403/median-price-of-popular-sneaker-brands-worldwide/
Datafiniti. "Median Price of Popular Sneaker Brands Worldwide as of 2017 (in U.S. Dollars)." Statista, Statista Inc., 6 Jun 2017, https://www.statista.com/statistics/828403/median-price-of-popular-sneaker-brands-worldwide/
Datafiniti, Median price of popular sneaker brands worldwide as of 2017 (in U.S. dollars) Statista, https://www.statista.com/statistics/828403/median-price-of-popular-sneaker-brands-worldwide/ (last visited October 11, 2024)
Median price of popular sneaker brands worldwide as of 2017 (in U.S. dollars) [Graph], Datafiniti, June 6, 2017. [Online]. Available: https://www.statista.com/statistics/828403/median-price-of-popular-sneaker-brands-worldwide/