Myeongdong streets are usually filled up and crowded with many people from different countries. In 2021, sadly due to Covid-19, Myeongdong streets became empty afterward. On August 12, 2021, a new Nike building was built in the Myeongdong streets. Nike is one of the most famous sports brands in the world. This new building is called “Nike Rise” and it is a third-floor building. Surprisingly, Nike Rise in Korea is the second store in the world and the first store was built in Guangzhou, China.
Many people assumed that Nike's sales would suffer as a result of Covid-19. However, the outcome exceeded expectations: their sales jumped by 20%. Nike was the first corporation to consider digital transformation ten years ago. As a result, they were able to plan ahead for the pandemic.
To start with, what is the difference between normal stores and Nike Rise? The answer to this question is that this store is more of online and offline stores combined. Many people wondered why they would build in Korea instead of Europe and the USA. The reason why they built it in Korea was that Korea has one of the best internets in the world including 5G. Not only that, but also many people in Korea are passionate about many different sports including soccer, basketball, and even sports like yoga, dance, and more.
Companies struggle to develop with digital transformation since they don't know if consumers would utilize them, it takes a long time, and there are numerous short-term negative consequences. Nike, on the other hand, waited and tried for ten years with patients. They were able to incorporate both offline and online elements successfully. Nike believes that sports and exercise are important in our daily lives and that they will improve our lives and the world in the long run..
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